https://www.miningweekly.com

Jupiter prices share buyback at $0.40 a share

23rd January 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Australian mining company Jupiter Mines plans to redistribute $55-million to its shareholders through an equal-access share buyback.

All Jupiter shareholders will be made an equal offer to buy back 6% of their shares at $0.40 a share.

The buyback will be funded from a R500-million repayment by 49.9%-owned Tshipi é Ntle Manganese Mining.

Tshipi in November announced it would distribute R1-billion to its shareholders for the year ended February 28.

Red Rock Resources, which holds about 1.2% of Jupiter's shares in issue, expectes to receive payment of $655 785.

Another Jupiter shareholder, Pallinghurst Resources, which holds a 20% stake in Jupiter, expects to receive about R150-million from the distribution.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.067 0.105s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: