RNS Number : 2527N

Jubilee Metals Group PLC

28 January 2021

Jubilee Metals Group PLC

Registration number (4459850)

Altx share code: JBL

AIM share code: JLP

ISIN: GB0031852162

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

Updates to Share Register and Exercise of Warrants

Jubilee announces that further to the announcement on 15 January 2021, it has registered the new institutional investors onto its share register, including Jupiter Asset Management Limited which now holds 3.65% of the Company's shares in issue. The total shares held by significant institutional investors in Jubilee has reached 45% of the total issued capital, reflecting strong institutional support.

The Company has also received notification from a warrant holder to exercise 4 000 000 existing warrants in the Company (the "Warrant Shares"). The Warrant Shares have been exercised at a weighted average price of 3.4 pence (ZAR 70.66 cents) per Warrant Share amounting to a cash value of GBP 136,000 (ZAR 2,826,270).

The Warrant Shares, representing 0.18 % of the enlarged issued share capital of Jubilee, will be traded in the market and placed with institutional shareholders to satisfy on-going institutional demand.

Leon Coetzer, Chief Executive Officer, commented: " The continued support we are experiencing from institutional investors is extremely encouraging and again highlights the successful implementation of our strategy to date and more importantly the opportunity for investors going forward.

"Jubilee's share register now includes some 45% held by institutional shareholders which reflects and confirms the Company's successful development and growth potential.

"We have experienced a very positive start to 2021 operationally including the construction of a new 80 000 tonne per month chrome operation adjacent to Inyoni's PGM operation which is on track to commence with commissioning during Q1 2021. The further expansion of the Inyoni PGM operations is progressing well and I invite shareholders to view the progress on our website.

"This expansion of our South African operations together with the targeted significant ramp up of our copper operation in Zambia is expected to continue to grow Jubilee's record H2 2020 earnings."

Website Updates

The Jubilee website has recently been updated to reflect the development and construction progress across the Company's projects as well as continuing updates being made to the library of images at the projects. The Company's website has also been updated with a summary of its significant shareholdings. Further information can be found at www.jubileemetalsgroup.com

Admission and Total Voting Rights

The Warrant Shares are expected to be admitted to trading on AIM and listed on the Altx of the JSE Limited on or about 03 February 2021 ("Admission") and will rank pari passu with the ordinary shares of the Company in issue.

The Company's total issued capital, after the issue of the Warrant Shares, will be 2 238 588 079 ordinary shares. As the Company does not hold any shares in treasury, this figure may be used by shareholders in the Company 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 share capital of the Company following Admission.

United Kingdom

28 January 2021


   For further information visit www.jubileemetalsgroup.com   or contact: 

Jubilee Metals Group PLC

Colin Bird/Leon Coetzer

Tel +44 (0) 20 7584 2155 / Tel +27 (0) 11 465 1913

Nominated Adviser - SPARK Advisory Partners Limited

Andrew Emmott/James Keeshan

Tel: +44 (0) 20 3368 3555

Joint Broker - Shard Capital Partners LLP

Damon Heath/Erik Woolgar

Tel +44 (0) 20 7186 9900

Joint Broker - WHIreland

Harry Ansell/Katy Mitchell

Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618

JSE Sponsor - Sasfin Capital (a member of the Sasfin group)

Sharon Owens

Tel +27 (0) 11 809 7500

PR & IR Adviser - St Brides Partners Limited

Catherine Leftley/Beth Melluish

Tel +44 (0) 20 7236 1177

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(END) Dow Jones Newswires

January 28, 2021 08:46 ET (13:46 GMT)

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