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Platinum Australia Ltd Announces Proposed Merger With Jubilee Platinum plc

Sunday, 16 Dec 2012 11:00pm EST 

Platinum Australia Ltd (PLA) announced its proposed merger with Jubilee Platinum plc, under which Jubilee will acquire all ordinary shares on issue in PLA by way of a scheme of arrangement regulated under the Australian Corporations Act. Under the proposed transaction, PLA shareholders would receive ordinary shares in Jubilee in exchange for their shareholding in PLA. The merged entity will be seeking a financing package for project finance, working capital and for partial settlement of PLA’s debts. The financing package is currently being negotiated. 

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