Key Developments: Jubilee Platinum PLC (JLP.L)

JLP.L on London Stock Exchange

1.23GBp
19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Jubilee Platinum PLC announces issue of shares on behalf of subsidiaries
Tuesday, 1 Jul 2014 04:00am EDT 

Jubilee Platinum PLC:Announces an issuance of shares on behalf of subsidiaries Braemore Resources Ltd , Jubilee Smelting and Refining Proprietary Ltd and Pollux Investment Holdings Proprietary Ltd.Issue in lieu of services provided in concluding Smelter commercial and operational upgrades, access agreement and progress payments for DCM Tailings project.Says total of 31,526,128 new Jubilee shares will be issued at an average price of 1.55 pence (26.94 cents Rand).Admission expected to occur on or around July 7, 2014.  Full Article

Jubilee Platinum PLC executes access agreement with ASA Metals Proprietary Limited and its subsidiary Dilokong Chrome
Monday, 9 Jun 2014 02:00am EDT 

Jubilee Platinum PLC:Executes tailings access agreement with ASA Metals Proprietary Limited and its subsidiary Dilokong Chrome Mines Proprietary Limited.Jubilee is awarded exclusive right to access PGM - bearing tailings on DCM mine area and right to construct , a dedicated chrome and PGM processing plant on mining area to process the tailings.ASA has agreed to give Jubilee access to sufficient power and water for the construction and operation of new processing plant.  Full Article

Jubilee Platinum Plc announces placing
Monday, 24 Feb 2014 02:00am EST 

Jubilee Platinum Plc:Secures a conditional placing of up to 24,857,224 new ordinary shares of 1 pence each in Jubilee at a price of 1.75 pence per share to raise about 435,000 pounds.Says proceeds will be used towards the settlement of the Senior Convertible Loan Note Instrument dated Dec. 16, 2013.Says application has been made for the placing shares to be admitted to trading on AIM and to be listed on the Altx of the JSE Limited, which is expected to take place on or about March 04.  Full Article

Jubilee Platinum Plc announces contract for power sales to national energy provider reinstated
Thursday, 20 Feb 2014 09:30am EST 

Jubilee Platinum Plc:Says that the national energy provider of South Africa has, with immediate effect, reinstated the Private Power Purchase Agreement entered into with the company's subsidiary Power Alt Pty Ltd in Dec. 2012.Says the company will commence with the supply of all surplus power capacity from its power plant with immediate effect.Says the company expects to deliver approximately 5MW of power to the grid which equates to an expected revenue of 195 000 pound (ZAR3.5 million) per month.Says the term for the reinstated PPPA is yet to be finalised due to the urgency for the immediate supply of power.Says the reinstatement of the contract is driven by the continued pressure on the supply of power to the national grid.  Full Article

Jubilee Platinum Plc announces issue of shares pursuant to convertible loan notes exercise
Friday, 14 Feb 2014 07:00am EST 

Jubilee Platinum Plc:Says it has received a notice of exercise by Darwin Strategic Limited to convert a further 450,000 Pound of Darwin's 1.85 Pound mln convertible loan notes into equity at a gross conversion price of 1.82967 pence per share.Says total of 24,594,567 new ordinary shares will be issued to Darwin pursuant to the notice.  Full Article

Jubilee Platinum Plc Does Not Declare Dividend
Friday, 27 Sep 2013 10:00am EDT 

Jubilee Platinum PLC announced that no Dividends were declared for year ended June 30, 2013.  Full Article

Jubilee Platinum Plc Announces Issue Of Equity
Tuesday, 20 Aug 2013 04:30am EDT 

Jubilee Platinum Plc announced that it is issuing 1,396,258 ordinary shares of GBP0.01 each, to YA Global Master SPV Ltd, pursuant to a SEDA advance notice dated August 6, 2013 for an amount of GBP72,633. It is expected that these shares will be listed on the JSE and admitted to trading on AIM on or about August 21, 2013. The proceeds will be used towards the funding of legal and other corporate costs associated with the Acquisition of Platinum Australia Limited.  Full Article

Jubilee Platinum Plc Updates On Disposal Of Non-core Ferro Alloy Smelters And Powerplant Assets
Friday, 2 Aug 2013 02:00am EDT 

Jubilee Platinum Plc updated on the Sale of Shares agreement with Global Renewal Energy Limited (GRE). The Company announced that it has agreed to acquire the issued share capital of Jubilee Smelting and Refining (Pty) Ltd in Middelburg (JSR), a wholly owned subsidiary of Jubilee and the 70% of the issued share capital of Power Alt (Pty) Ltd (PowerAlt) for an aggregate cash consideration of USD14 million. It was agreed that the Transaction may be executed over two tranches, namely a disposal which includes the sale of 65% of the issued share capital of JSR and 40% of the issued share capital of PowerAlt and an option whereby Jubilee retains an exclusive put option for the remaining share capital held by the Company. The Option was secured by Jubilee to evaluate Jubilee's continued exposure to the revenue generated by these non-core assets versus the value of the put-option. Consideration for the Disposal comprised a non-refundable deposit payment of USD0.2 million plus an amount of USD8.9 million which was due to be paid on or before July 31, 2013 under the extension granted by Jubilee. The granted extension for the Second Payment was also subject to further payments by GRE to JSR which included the funding of the expansion of the JSR smelter off gas systems.  Full Article

Jubilee Platinum PLC Announces Acquisition Of Platinum Australia Limited
Tuesday, 30 Jul 2013 02:00am EDT 

Jubilee Platinum PLC announced that it concludes a Memorandum of Understanding with Macquarie Bank Limited to provide funding in support of the proposed acquisition of Platinum Australia Limited (PLA); and - Jubilee and PLA reached agreement to reduce the consideration for the proposed acquisition whereby PLA shareholders will hold 16.5% of the issued share capital of Jubilee following the implementation of the scheme of arrangement. Jubilee announced the negotiation of a MOU with MBL for a USD10.5 million debt facility secured at project level in support of Jubileeā€™s proposed acquisition of PLA under the Scheme. Jubilee and PLA have further agreed, subject inter alia to the MOU and to PLA shareholder approval, that PLA shareholders will receive one Jubilee share for approximately every 5.68 PLA shares held calculated at current Jubilee shares in issue - significantly reducing the dilution of Jubilee shareholders following implementation of the Scheme. As such, PLA shareholders will hold 16.5% of the issued share capital of Jubilee following the implementation of the Scheme. To give full effect to and to formalise this MOU, PLA and Jubilee have agreed to extend the 'End Date' from July 31, 2013 to September 30, 2013 and the PLA Deed Administrator has adjourned the Scheme meeting called for July 30, 2013 to allow PLA and Jubilee to incorporate the amendments to the Scheme Booklet following both the signing of the MOU and the adjusted scheme consideration.  Full Article

Jubilee Platinum Plc Updates On Disposal Of Jubilee Smelting and Refining (Pty) Ltd
Wednesday, 19 Jun 2013 02:30am EDT 

Jubilee Platinum Plc announced that in relation to the Sale of Shares agreement with Global Renewal Energy Limited (GRE), in terms of which GRE has agreed to acquire the issued share capital of Jubilee Smelting and Refining (Pty) Ltd (JSR), a wholly owned subsidiary of Jubilee and the 70% of the issued share capital of Power Alt (Pty) Ltd (PowerAlt) owned by Jubilee (collectively Sale Shares), for an aggregate cash consideration of USD14 million (Transaction). The Transaction may be executed over two tranches, namely a disposal which includes the sale of 65% of the issued share capital of JSR and 40% of the issued share capital of PowerAlt (the Disposal) and an option whereby Jubilee retains an exclusive put option for the remaining share capital held by the Company (the Option). Consideration for the Disposal comprised a non-refundable deposit payment of USD200,000 which has been received by Jubilee, plus an amount of USD8,866,496 which was due to be paid on or before June 14, 2013.  Full Article

BRIEF-Jubilee Platinum issues new shares to fund Pollux deal

* Has commenced with trial processing of platinum-containing material at its smelter operation

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