Jubilee Platinum jumps on disposal of non-core asset

Jubilee Platinum, the AIM-listed and JSE-listed mine-to-metals specialist, has concluded a sale of shares agreement with Global Renewal Energy (GRE), through which GRE will acquire from Jubilee, inter alia, the issued share capital of Jubilee Smelting and Refining (Pty) (JSR), a wholly-owned subsidiary of Jubilee and the issued share capital of Power Alt (Pty)(PowerAlt), for an aggregate cash consideration of 14m dollars.

Jubilee Platinum, the AIM-listed and JSE-listed mine-to-metals specialist, has concluded a sale of shares agreement with Global Renewal Energy (GRE), through which GRE will acquire from Jubilee, inter alia, the issued share capital of Jubilee Smelting and Refining (Pty) (JSR), a wholly-owned subsidiary of Jubilee and the issued share capital of Power Alt (Pty)(PowerAlt), for an aggregate cash consideration of 14m dollars.

The group said that the transaction would be executed over two tranches, namely the disposal and the option. It said that the disposal would include the sale of 65% of the issued share capital of JSR and 40% of the issued share capital of Power Alt for a cash consideration of $9.07m.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.