Wrap Text
Proposed Reduction of the Share Premium Account and Notice of General Meeting
This announcement replaces the RNS released on 23 March 2026 (RNS Number: 6671X) to correct an
error. The dis-application of pre-emption rights is limited to a maximum of 7.5%, of the Company's
issued ordinary share capital, not 10% as previously announced. All other information remains
unchanged.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (WHICH FORMS
PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018 ('UK MAR'))
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION
OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
Jubilee Metals Group PLC
('Jubilee' or 'the Company' or 'the Group')
Registration number: 4459850
AIM share code: JLP
Altx share code: JBL
ISIN: GB0031852162
Proposed Reduction of the Share Premium Account and Notice of General Meeting
Jubilee, the Zambia copper focused producer, announces the Company's proposal to reduce
its share premium account (Capital Reduction) in order to restructure the Company's balance
sheet so as to increase the amount of available distributable reserves available (subject to the
protection of creditors). The Company furthermore expects to release the phase 1 drill results
of its Molefe Mine operations on Tuesday 24 March 2026.
The Capital Reduction will create distributable reserves to support the Company's ability to
make future payments of dividends to its shareholders and undertake potential share
buybacks (in each case should circumstances mean it is appropriate or desirable to do so),
as well as other corporate purposes of the Company.
The Capital Reduction is conditional upon passing of a special resolution by the Company's
shareholders in addition to approval of the Court.
In addition, the Company is also seeking to renew the standard authority to grant Directors
authority to issue shares as granted at the previous 2024 AGM and to dis-apply pre-emption
rights. The Company wishes to dis-apply pre-emption rights only to a maximum of 7.5% of the
issued ordinary share capital of the Company. The Dis-application Resolution is to give
flexibility to the Company to issue new warrants, options or shares to support the Company
when leveraging investment capital and aligning employees' and stakeholders' interests with
shareholders of the Company.
Notice is hereby given of the General Meeting of the Company to be held at 11.00 a.m. (UK
time), 12.00 p.m. (SA time) on Wednesday, 8 April 2026 at Fieldfisher LLP, Riverbank House,
2 Swan Lane, London EC4R 3TT to consider and vote on the resolutions.
The circular containing the notice of General Meeting (notice of General Meeting) will be
published and posted to shareholders on 23 March 2026. A copy of the circular containing the
notice of General Meeting is also available on the Company's website
at https://jubileemetalsgroup.com/circulars/.
Subject to both the passing of the special resolution at the General Meeting and the court
approving the Capital Reduction, it is expected that the effective date of the share premium
reduction will be on or around 29 April 2026.
The Capital Reduction will not, of itself, involve any distribution or return of capital to any
shareholder and will not reduce the Company's underlying assets. The completion of the
Capital Reduction will not affect the rights attaching to the Ordinary Shares and will not result
in any change to the number of Ordinary Shares in issue (or their nominal value).
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
2026
Shareholders recorded on the register who are entitled to Wednesday, 18 March
receive the notice of General Meeting (SA)
Notice of General Meeting posted to shareholders and Monday, 23 March
published on RNS and SENS
Last date to trade on the JSE in order to be eligible to participate Monday, 30 March
in and vote at the General Meeting (SA)
Record date for the purposes of determining which Thursday, 2 April
shareholders are entitled to participate in and vote at
the General Meeting (SA)
Record date for purposes of determining which shareholders 11.00 a.m. (London time)
are entitled to participate in and vote at the General Meeting on Thursday, 2 April (or
(UK) 48 hours before the
meeting excluding non-
working days)
Latest time and date for receipt of Forms of Proxy for the 11.00 a.m. (London
General Meeting time)/ 12.00 p.m. (SA
time) on Thursday, 2
April
General Meeting 11.00 a.m. (London
time)/ 12.00 p.m. (SA
time) on Wednesday, 8 April
Results of the General Meeting released on RNS and SENS Wednesday, 8 April
Expected date of initial directions hearing of the Court Friday, 17 April
Expected date of the Court Hearing3 Tuesday, 28 April
Expected date results of the Court hearing released on RNS Wednesday, 29 April
and SENS
Expected effective date for the Capital Reduction4 Wednesday, 29 April
Notes:
1. Each of the times and dates in the above timetable are subject to change. If any
of the above times or dates change, the revised times or dates will be notified to
Shareholders via RNS and SENS.
2. All references to times in this Circular are to London times unless otherwise stated.
3. This date is subject to any changes which may be imposed by the Court. The
expected date for the Court Hearing to confirm the Capital Reduction is based on
a provisional date which has been obtained. This provisional hearing date may be
subject to change and is dependent on the Court's timetable. If the expected date
of the Court hearing is changed, the Company will give notice of this by issuing an
announcement via RNS and SENS.
4. This date will depend on, amongst other things, the date on which the Court
confirms the Capital Reduction by way of sealing a court order.
23 March 2026
For further information visit www.jubileemetalsgroup.com, follow Jubilee on X
(@Jubilee_Metals) or contact:
Jubilee Metals Group PLC
Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)
Tel: +27 (0) 11 465 1913 / Tel: +44 (0) 7797 775546
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
Tel: +44 (0) 20 3368 3555
PR & IR Adviser - Tavistock
Jos Simson/Gareth Tredway
Tel: +44 (0) 207 920 3150
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Tel: +44 (0) 20 7220 1670/+44 (0) 113 394 6618
Joint Broker - Shard Capital Partners LLP
Erik Woolgar/Gareth Burchell
Tel +44 (0) 207 1869900
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Tel: +27 63 482 3802
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END
Date: 23-03-2026 12:05:00
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