REG - Jubilee Metals Group - Reduction of Share Premium Account & Notice of GM

Jubilee MetalsAnnouncement

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RNS Number : 6671X  Jubilee Metals Group PLC  23 March 2026

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 10% 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/
(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 receive the notice    Wednesday, 18 March
 of General Meeting (SA)
 Notice of General Meeting posted to shareholders and published on RNS and SENS  Monday, 23 March
 Last date to trade on the JSE in order to be eligible to participate in and     Monday, 30 March
 vote at the General Meeting (SA)
 Record date for the purposes of determining which shareholders are entitled to  Thursday, 2 April
 participate in and vote at the General Meeting (SA)
 Record date for purposes of determining which shareholders                      11.00 a.m. (London time) on Thursday, 2 April (or 48 hours before the meeting

                                                                               excluding non-working days)
 are entitled to participate in and vote at the General Meeting (UK)
 Latest time and date for receipt of Forms of Proxy for the General Meeting      11.00 a.m. (London 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 Hearing(3)                                           Tuesday, 28 April
 Expected date results of the Court hearing released on RNS and SENS             Wednesday, 29 April
 Expected effective date for the Capital Reduction(4)                            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
(http://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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