AZTR receives NYSE delisting warning over equity requirement
LONDON - Jubilee Metals Group PLC (AIM:JLP, Altx:JBL) announced today that shareholders have approved the proposed sale of its South African Chrome and PGM Operations at a General Meeting held on Thursday.
The resolution to approve the disposal passed with 97.38% of votes cast in favor, representing 43.2% of the company’s total voting rights, according to a statement released by the mining company.
The meeting took place at 11:00 a.m. UK time (12:00 noon South African time) on August 28.
Jubilee Metals, which is dual-listed on London’s AIM market and South Africa’s Altx, did not disclose the financial terms of the transaction or identify the buyer in the press release.
The company also did not provide details about its strategic rationale for divesting these operations or how it plans to use the proceeds from the sale.
Jubilee Metals specializes in processing mining waste and has operations across multiple countries. The approved disposal specifically concerns its chrome and platinum group metals (PGM) assets located in South Africa.
The transaction represents a significant change in the company’s portfolio, though the impact on Jubilee’s overall business remains unclear from the information provided in the press release.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.