miningmx
TODAY In Platinum ›

Share Price
JUBILEE PLATINUM PLC (JBL)
Last Trade : R3.2
Change(%) :-3.03
Cumulative Volume :4650
Market Cap :R814.28M
» More company data...

Related Stories

Shareholder nod for Braemore/Jubilee

I-Net Bridge | Thu, 08 Oct 2009 09:37
Share
[miningmx.com] -- Braemore Resources, the nickel and platinum group metal producer, and junior platinum firm Jubilee Platinum on Wednesday said their shareholders had had approved the merger between the two firms.

A court hearing to approve the reduction of capital and sanction the scheme of arrangement is scheduled for October 29, with Braemore's listing expected to be terminated on the JSE by November 9.

The companies originally announced their intention to merge in July 2009.

According to the original announcement, the all-equity transaction involves the issue of one new Jubilee share for every 15.8 Braemore shares held by Braemore shareholders.

This would result in Braemore shareholders effectively holding a 30% pre-capital raising interest in the enlarged entity.

Post the transaction, Braemore will become a wholly owned subsidiary of Jubilee and Braemore's listing on London's AIM and the JSE will be terminated. The companies said the transaction would create an enlarged Anglo-South African mining group with its flagship Tjate Project, located in the Eastern Bushveld of South Africa.

Shares in Braemore closed 16.67% or 4 cents up at 28 cents while shares in Jubilee ended 3.85% or 15 cents firmer at 4.05 rand on the JSE.



special reports
News Alert! Subscribe to our Free News Alert
Most Read
Commented
Ed's Choice
  1. » Friedland gets Ivanplats IPO away for $307m
    by David McKay | 23 Oct 2012 18:01
  2. » Eskom’s R284bn coal spend is thin end of wedge
    by David McKay | 23 Oct 2012 16:28
  3. » Eskom itching to start nuclear programme
    by David McKay | 17 Oct 2012 13:11
  4. » AEMFC readies for second mine as losses mount
    by Andre Janse van Vuuren | 18 Oct 2012 15:38
  5. » Lonmin, Holgoun deal is in bad faith
    by David McKay | 12 Oct 2012 11:08
More news from Platinum Group Metals
  • › Platinum juniors take a beating
  • › Northam halts ops at Zondereinde after accident
  • › Aquarius shares recover after DMR meeting
  • › DMR backs down on Aquarius
  • › Aquarius Platinum shares plunge
  • › New safety rules for platinum mines
  • › Aquarius told to reduce bord widths
  • › Mechanised mining in the spotlight
  • › Jubilee Platinum makes ConRoast breakthrough
  • › Northam, Jubilee to explore furnace plan
    • multimedia

    Multimedia

    LATEST PODCAST | Clear as mud | 07 Jun 2011 - › More
    Mining law expert Peter Leon gives his take on the increasingly complex wrangle over Sishen mine. ... Listen ›
    RADIO WRAP | More ›
  • › Gold One can sit out a long strike - Froneman |
  • › First Uranium rescue plan good for Simmers too - Bernard Swanepoel |
    • podcastsPodcasts
    Big opinions by big guys.     RSSRSS Feeds
    News delivered really simply.
    jobsJobs
    Current listings.     eventsEvents
    Current listings.
    jseJSE Listed stocks
    Real time resources data.
    special reportsFREE News Alert!
    Subscribe to our News Alert