Competition Tribunal Approval
Jubilee Metals Group Plc has received unconditional approval from the South African Competition Tribunal for the sale of its South African Chrome and PGM Operations to One Chrome (Pty) Ltd, with the transaction expected to conclude by the end of 2025, pending final audit completion by November 30, 2025, and South African Reserve Bank approval. Following the disposal, Jubilee will concentrate on its Zambian copper projects while retaining its investment in the Tjate platinum project. The sale agreement may be terminated if all conditions are not met or waived by December 31, 2025.
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Altx share code: JBL
('Jubilee' or 'Company' or 'Group')
Competition Tribunal Approval for the Sale of South African Chrome and PGM Operations
Jubilee, the Zambia copper focused producer, is pleased to announce that South African Competition Tribunal (SACT) has issued the Company with a merger clearance certificate, and as such, has unconditionally approved the sale of the South African Chrome and PGM Operations to One Chrome (Pty) Ltd (One Chrome) under the Competition Act (Disposal). SACT approval was a suspensive condition to the Disposal as outlined in the Circular to shareholders. (see announcement dated 12 August 2025).
Approval of the South African Reserve Bank is still required, and the Company does not envision this being reasonably withheld.
The last material condition precedent is audit related. This workstream is well underway and is expected to be completed by 30 November 2025. Following completion of the Disposal, which is expected by the end of CY2025, the Company will be focused solely on its Zambian copper projects whilst retaining its investment in the Tjate platinum project in South Africa.
If all of the suspensive conditions of the Disposal are not satisfied or waived by 31 December 2025 then the sale agreement for the Disposal may be terminated by either Jubilee or One Chrome.
Jubilee Metals Group PLC
Leon Coetzer (CEO)/Jonathan Morley-Kirk (FD)
Nominated Adviser - SPARK Advisory Partners Limited
Andrew Emmott/James Keeshan
PR & IR Adviser - Tavistock
Jos Simson/Gareth Tredway
Joint Broker - Zeus Capital
Harry Ansell/Katy Mitchell
Joint Broker - Shard Capital Partners LLP
Erik Woolgar/Gareth Burchell
Tel +44 (0) 207 1869900
JSE Sponsor - Questco Corporate Advisory Proprietary Limited
Alison McLaren
Financial Advisor to the transaction
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Craig Brewer
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.