The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksJubilee Metals Regulatory News (JLP)

Share Price Information for Jubilee Metals (JLP)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 7.60
Bid: 7.50
Ask: 7.70
Change: -0.10 (-1.32%)
Spread: 0.20 (2.667%)
Open: 7.60
High: 7.60
Low: 7.50
Prev. Close: 7.60
JLP Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Results of Placing and Notice of General Meeting

15 Dec 2023 13:53

RNS Number : 0295X
Jubilee Metals Group PLC
15 December 2023
 

Jubilee Metals Group PLC

("Jubilee" or "the Company" or "the Group")

Registration number (4459850)

Altx share code: JBL

AIM share code: JLP

ISIN: GB0031852162

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDEDUPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Results of Placing

Notice of General Meeting

Investor Webcast

 

Jubilee is pleased to announce that further to its announcement of 7.00 a.m. (London time) on 15 December 2023 (the "Placing Announcement"), that it has successfully closed the Placing.

Result of Conditional Placing

Following strong demand in the bookbuild, the total gross proceeds from the Placing has increased from the minimum amount of approximately £10 million to £13 million (approximately US$16.6 million[1]) through the placing of 236,363,636 new Ordinary Shares (the "Placing Shares") with certain institutional and other investors at a price of 5.5 pence per share (the "Placing Price").

The Placing is not being underwritten and is conditional, inter alia, upon:

a) the passing, without amendment, of the Resolution, at the General Meeting;

b) Admission becoming effective by no later than 8.00 a.m. on 4 January 2024 (or such other time and/or date, being no later than 8.00 a.m. on 15 February 2024, as the Joint Brokers and the Company may agree);

c) the other conditions in the Placing Agreement being satisfied or (if applicable) waived; andthe Placing Agreement not having been terminated in accordance with its terms prior to Admission.

 

Use of Proceeds

The Placing is specifically targeting Jubilee's Zambian Copper operations, in order to accelerate the implementation of our newly acquired Copper Waste Rock Project in partnership with International Resources Holdings ("IRH"), as follows:

· Pay the initial payment of US$1.75 million, due under the agreement for the acquisition of the copper waste rock dump announced on 12 December 2023 detailed above and progress resource and process design (a total of c.US$4.5m).

· Expand the sulphide recovery circuits at the Company's Sable Refinery to accommodate increased sulphide concentrate production from newly acquired projects (c.US$5.7m).

· Progress the project development phase of the Mufulira slag project, with early-stage bulk trial and processing (c.US$2.5m).

· For general working capital purposes.

WH Ireland and Berenberg acted as joint brokers and joint bookrunners in connection with the Placing.

Leon Coetzer, Jubilee CEO, commented:

"We have received overwhelming support for this very targeted fundraise and I thank shareholders for their strong support.

Fundamental to this support was the recognition of the potential value and scale of copper production that this new copper Waste Rock Project affords Jubilee. The additional value in accelerating the implementation of this project over and above our current commitment to the expansion of both chrome and copper further adds to this potential value for Jubilee.

This very targeted raise offers us the opportunity to not only bring forward the expected timelines to implement the very exciting Copper Waste Rock project, but to potentially scale-up the projected copper production profile of the project to far exceed our copper strategy of 25 000 tonnes per annum of copper. Importantly, under the terms of the executed agreement with the IRH, our partnership affords us the ability to bring this project to full fruition with no further capital requirements from Jubilee while enjoying a fully funded position."

Investor Webcast

Jubilee will be hosting a live webcast via the Investor Meet Company platform on Wednesday, 20 December 2023 at 10:00 a.m. UK (RSA 12:00 p.m.).

The webcast will provide investors with a valuable opportunity to interact with the Company and gain insights into the latest strategic partnership with Abu Dhabi based International Resources Holding RSC Limited ("IRH"), and the Placing Announcement.

Investors can sign up to Investor Meet Company for free and add Jubilee Metals Group Plc to their profile via: https://www.investormeetcompany.com/jubilee-metals-group-plc/register-investor

Investors who already follow the Group on the Investor Meet Company platform will automatically be invited.

Questions can be submitted at any time during the live presentation and can also be submitted at jubilee@tavistock.co.uk.

Notice of General Meeting

The Company announces that it will despatch a circular and notice of general meeting to Shareholders, to convene a general meeting of the Company at 11.00 a.m. on 3 January 2024 at the offices of Fladgate LLP, 16 Great Queen Street, London, WC2B 5DG. The circular will be posted to shareholders on Monday 18 December 2023 and will also be made available on the Company's website https://jubileemetalsgroup.com/ from 18 December 2023.

Salient Dates:

 

Shareholders on the register who are entitled to receive the notice of GM (SA)

Friday, 8 December 2023

Notice of GM posted to shareholders

Monday, 18 December 2023

Last date to trade in order to be eligible to participate in and vote at the GM (SA)

Friday, 22 December 2023

Record date for the purposes of determining which shareholders are entitled to participate in and vote at the GM (SA)

Friday, 29 December 2023

Record date for the purposes of determining which shareholders are entitled to participate in and vote at the GM (UK)

Friday, 29 December 2023

Latest time and date for receipt of CREST Proxy Instruction and uncertificated instructions (UK)

Friday, 29 December 202311:00 a.m. (UK time)

 

Latest time and date for receipt of Proxy Forms, Dematerialised Holding Instruction and other uncertified instructions (SA)

Friday, 29 December 20231:00 p.m. (SA time)

 

General Meeting 

Wednesday 3 January 202411:00 a.m. (UK time)1:00 p.m. (SA time)

 

Results of the General Meeting released on RNS and SENS

Wednesday, 3 January 2024

 

Admission and Total Voting Rights

Subject to the resolution being passed at the General Meeting, an application will be made to the London Stock Exchange for admission of the Placing Shares to trading on AIM. It is expected that Admission will become effective and dealings in the Placing Shares will commence on AIM at 8.00 a.m. on or around 4 January 2024 (or such later date as may be agreed between the Company and the Joint Brokers, but no later than 15 February 2024).

The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

The Placing Shares, assuming completion of the Placing, will represent approximately 7.95 per cent. of the Enlarged Share Capital

Following Admission, the total number of Ordinary Shares in issue will be 2,974,493,617. The Company does not hold any shares in treasury and, therefore, following Admission, the number of voting shares in issue in the Company will be 2,974,493,617. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Capitalised terms used, but not otherwise defined in this announcement, shall have the meanings ascribed to such terms in Appendix II of the Placing Announcement unless the context requires otherwise.

For further information please contact:

 

Jubilee Metals Group PLC

Tel: +27 (0) 11 465 1913

Leon Coetzer (CEO) / Neal Reynolds (CFO)

PR & IR Adviser - Tavistock

Tel: +44 (0) 20 7920 3150

Jos Simson/ Gareth Tredway

Nominated Adviser - SPARK Advisory Partners Limited

Tel: +44 (0) 20 3368 3555

Andrew Emmott/ James Keeshan

Joint Broker - Berenberg

Tel: +44 (0) 20 3207 7800

Matthew Armitt/ Jennifer Lee/ Detlir Elezi

Joint Broker - WH Ireland

Tel: +44 (0) 20 7220 1670/

Harry Ansell/ Katy Mitchell

+44 (0) 113 394 6618

JSE Sponsor - Questco Corporate Advisory Proprietary Limited

Tel: +27 (0) 11 011 9207

Alison McLaren

 

 

 


[1] GBP:USD rate of 1:1.28, as at 11:35 on Friday 15 December 2023

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ROIGPGGAPUPWGWA
Date   Source Headline
29th Mar 201812:00 pmRNSFurther Kabwe Project Update
21st Mar 20187:00 amRNSAppointment of Broker
19th Mar 20181:45 pmRNSJubilee Live Interactive Webcast
7th Mar 20187:00 amRNSUNAUDITED INTERIM RESULTS 31 DECEMBER 2017
2nd Mar 201811:45 amRNSStatement regarding Broker
1st Mar 20187:00 amRNSFurther Kabwe Project Update
23rd Feb 20183:35 pmRNSFurther Kabwe Project Update
7th Feb 20185:00 pmRNSFurther Update re Kabwe project
7th Feb 20183:20 pmRNSUpdate on Kabwe project
6th Feb 20187:00 amRNSJubilee progresses Kabwe Project
5th Feb 20188:56 amRNSTR-1: notification of major holdings
1st Feb 201811:00 amRNSJubilee Live Interactive Webcast
30th Jan 20181:45 pmRNSQuarterly Operations Update
30th Jan 20188:00 amRNSTR-1: notification of major holdings
29th Jan 20184:48 pmRNSHolding(s) in Company
15th Jan 20181:00 pmRNSJubilee Acquires Significant Equity Position - BMR
9th Jan 20188:45 amRNSJubilee Secures Institutional Financing
5th Jan 20182:45 pmRNSJubilee Hernic PGM Project
5th Dec 20172:30 pmRNSChange of name to Jubilee Metals Group PLC
4th Dec 20173:10 pmRNSResults of AGM and Change of Name
20th Nov 20177:00 amRNSHernic Operations Update for October 2017
10th Nov 20177:00 amRNSNotice of AGM & Audited results for the year
26th Oct 20177:00 amRNSQuarterly Operations Update
23rd Oct 20177:00 amRNSJoint venture with BMR Group PLC
28th Sep 20177:00 amRNSHernic Update
7th Sep 20171:01 pmRNSJubilee Live Interactive Webcast - replacement
7th Sep 201710:15 amRNSJubilee Live Interactive Webcast
5th Sep 201712:30 pmRNSNew Partnership Agreement, 3rd Party Ore Agreement
31st Jul 201711:52 amRNSPlatinum Projects Quarterly Update - Q2 2017
22nd Jun 20173:00 pmRNSDirector Dealing
15th Jun 20171:30 pmRNSHernic Project Reaches Full Production
19th May 201710:30 amRNSHernic Project Ramping-Up and Live Webcast
9th May 20179:00 amRNSMarket Update
30th Mar 20173:18 pmRNSInterim Results - replacement
30th Mar 201712:15 pmRNSInterim Results
29th Mar 20172:15 pmRNSJubilee commences platinum production
17th Mar 20177:00 amRNSExecution of Platinum Tailings Agreement
14th Mar 20171:15 pmRNSFinal proceeds from Middelburg and DCM update
9th Mar 20177:00 amRNSJubilee Executes Surface Tailings Transaction
6th Mar 20179:45 amRNSDCM Operations update and Exercise of warrants
2nd Mar 20178:30 amRNSTjate Executes Mining Right
21st Feb 20173:15 pmRNSExercise of last warrants at specific issue price
15th Feb 20173:31 pmRNSExercise of Last Warrants at Specific Issue Price
13th Feb 201711:45 amRNSExercise of Warrants
8th Feb 20178:45 amRNSExercise of Warrants
6th Feb 20172:45 pmRNSHernic Project in Production
3rd Feb 20179:30 amRNSExercise of Warrants
30th Jan 20179:00 amRNSHernic Tailings Project update
25th Jan 20172:00 pmRNSExercise of Warrants
17th Jan 20171:00 pmRNSUpdate notification and Exercise of Warrants

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.