Jubilee Metals Regulatory News (JLP)

5 Apr 2005 07:00

Jubilee Platinum PLC05 April 2005 AIM: JLP JUBILEE PLATINUM PLC ("Jubilee" or "the Company") Jubilee Placing Raises £1.6m Jubilee is pleased to announce it has raised £1.60 million gross (£1.51 millionnet of expenses) in a conditional placing (the "Placing") with UK institutionalinvestors arranged by Numis Securities Limited ("Numis"). Under the Placing,the Company has conditionally placed 4,848,485 new ordinary shares of 1p each inthe capital of the Company ("Ordinary Shares") at a price of 33p per share.Immediately following the Placing the total number of Ordinary Shares in issuewill be 69,922,828. The proceeds of the fund raising will allow the Company to progress moreaggressively on-going drilling on its Tjate project in South Africa (in respectof which the Company published an announcement on 10 March 2005). Jubilee willadvance concurrently as opposed to sequentially its exploration sites inMadagascar. In Madagascar, Jubilee will be undertaking geochemical andgeophysical exploration as well as trenching and drilling at its prospectivesites at Londokomanana, Pachoud and Lanjanina. The proceeds of the Placing willalso be used for general working capital purposes. The Placing is subject to a placing agreement between the Company and Numisbecoming unconditional and not being terminated prior to 8 April 2005 or suchlater date (being not later than 15 April 2005) as the Company and Numis mayagree. Numis has underwritten the issue. The new Ordinary Shares will rankpari passu in all respects with the existing Ordinary Shares in issue. The newshares are expected to be admitted to trading on AIM on 8 April 2005. Colin Bird, CEO of Jubilee, said "As reported on 10 March 2005, our initialresults on Tjate were highly encouraging and our recent formal review of resultsfrom Madagascar suggests that an exploration programme run concurrently with thedrilling at Tjate, as opposed to sequentially, should increase shareholder valuemore rapidly." For further information please contact: Colin Bird Cathy Malins / Annabel LeatherJubilee Platinum plc Parkgreen Communications LtdTel: 07768 397 627 Tel +44 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange