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Audited results, Notice of AGM availability of AFS
Jubilee Metals Group PLC
Registration number (4459850)
Altx share code: JBL
AIM share code: JLP
ISIN: GB0031852162
("Jubilee" or "the Company" or “the Group”)
Audited results for the financial year ended 30 June 2021, notice of Annual General Meeting and
availability of Annual Financial Statements
The directors of Jubilee are pleased to announce its audited results for the financial year ended 30 June
2021. Its primary listing is on the Alternative Investment Market of the London Stock Exchange (“AIM”)
and it has a secondary listing on the Alternative Exchange of the JSE Limited ("JSE”).
Jubilee’s principal activities are that of recovering platinum group metals and chrome through the
reprocessing of historical surface mine waste and materials. The Group has also diversified its portfolio
to include other countries and other elements and metals such as copper, cobalt, lead, zinc and
vanadium in Zambia.
- Total revenue for the year increased by a strong 143% to £ 133 million (ZAR 2.8 billion)1 (2020:
£ 54.8 million (ZAR 1.1 billion));
- Attributable operational earnings2 growth of 183% to £ 71 million (ZAR 1.5 billion) (2020: £ 25
million (ZAR 494.5 million)) and a return on equity of 35.4%, compared with 21.2% in the
previous year;
- Profit before tax adjusted for non-cash expenses including impairments, gain on bargain
purchase and share based payments up 324% to £ 52 million (ZAR 1.1 billion) (2020: £ 12.3
million (ZAR: 242 million));
- Revenue and earnings growth was achieved during a period of substantial infrastructure
investment, integration and planned operational downtime and has provided a tremendous
platform for further future growth;
- Earnings per share up 9 3 %, to 1.81 pence (ZAR 37.50 cents) (2020: 0.94 pence (ZAR
18.47 cents));
- Headline earnings per share (from continuing operations) up 1 1 3 %, to 1.87 pence (ZAR
38.62 cents) (2020: 0.88 pence (ZAR 17.30 cents)); and
- The Group boosted its operating profit by a strong 189%, to £ 45.9 million (ZAR 949 million)
(2020: profit of £ 15.9 million (ZAR 313.2 million)), with an operating margin of 35% (2020:
29%).
No dividends were declared or paid during the period under review or during the previous financial year
ended 30 June 2020.
The auditor’s report on the annual financial statements of the Group was unqualified and their audit
opinion, including key audit matters on pages 49 – 50 of the annual financial statements can be viewed
on the Company’s website www.jubileemetalsgroup.com
Notice AGM and Availability of the annual report for the financial year ended 30 June 2021
("Annual Report”)
Notice of AGM
1
For income statement purposes, conversions are at the average £:ZAR rates for the period under review and for balance
sheet purposes, at the spot rate as at year end. All other conversions are at rates at the time announced.
2
Attributable operational earnings represent Jubilee’s net share of operational earnings after distributions to joint venture
partners and before development costs.
The Company also hereby gives notice of its AGM, which will be held on 29 December 2021 at 9:00
am UK time at the offices of Fladgate LLP, 16 Great Queen Street, London, WC2B 5DG, to transact
the business as stated in the notice of AGM.
In light of current restrictions on public gatherings and to ensure shareholders can comply with the
government measures, the Company has concluded that shareholders will not be permitted to attend
in person. The Company therefore requests that shareholders cast their votes by proxy to be received
48 hours (excluding non-business days) in advance of the time of the AGM. Instructions on how
shareholder can cast their votes for the AGM are included in the Notice of AGM.
Following the AGM’s formal business on 29 December 2021, the Company will be hosting a
presentation, live streamed to give the shareholders an opportunity for a general Company update and
discussion of the Group’s annual audited results. Please send any questions you may have
to info@jubileemetalsgroup.com by 27 December 2021 to be addressed during the live stream. The link
to participate will be published on the Company’s website separately via a separate publication on the
AIM’s Regulatory News Service ("RNS”).
Salient dates:
Shareholders on the register who are entitled to receive the notice of
AGM (SA) 26 November 2021
Notice of AGM posted to shareholders 2 December 2021
Last date to trade in order to be eligible to participate in and vote at the
AGM (SA) 21 December 2021
Record date for the purposes of determining which shareholders are 23 December 2021
entitled to participate in and vote at the AGM (UK)
Latest time and date for receipt of CREST Proxy Instruction and other 11:00 a.m. (UK time) 23
uncertificated instructions (UK)
December 2021
Record date for the purposes of determining which shareholders are 24 December 2021
entitled to participate in and vote at the AGM (SA)
Latest time and date for receipt of Dematerialised Holding Instruction 1 p.m. (SA time) 28
and other uncertified instructions (SA)
December 2021
Annual General Meeting 11:00 a.m. (UK time) 29
December 2021
Results of the Annual General Meeting released on the JSE’s Stock 29 December 2021
Exchange News Service ("SENS”) and RNS
Availability of the Annual Report
The Group’s Annual Report, along with the Notice of AGM, has been posted to the website on
www.jubileemetalsgroup.com
Full announcement
This short-form announcement is the responsibility of the directors of the Company and is a summary of the
information in the full announcement (being the detailed audited financial statements for the financial year
ended 30 June 2021) ("Full Announcement”) and therefore does not contain full or complete details. The
Full Announcement is available for viewing on the JSE’s SENS platform on the following website:
https://senspdf.jse.co.za/documents/2021/jse/isse/jble/jbl2021.pdf
Any investment decision by investors and / or shareholders should be based on consideration of the Full
Announcement, copies of which are also available, at no charge, on request from our company secretary:
Carina De Beer, cdebeer@jubileemetalsgroup.com and our sponsor’s offices on work-days during business
hours, also at no charge.
Sponsor:
Questco Corporate Advisory Proprietary Limited
London, United Kingdom
2 December 2021
Date: 02-12-2021 09:00:00
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