jubilee oil bought 9.9% of jbm

Hi guys,

I only just noticed this this morning.

Etrade is now showing Jubilee Oil NL as holding 9.9% of JBM's shares.

The date of change being 29/11/2004.

Shareholder Name Shareholding Date of Change % Shares Held
Jubilee Oil NL 4,750,000 29/11/2004 9.90
K K Harmanis 22,561,166 20/09/2004 18.10
Inco Limited 6,321,491 20/09/2004 5.07

Shareholders Buying
Date Shareholder Name Previous % New % Shares Purchased
29-11-04 Jubilee Oil NL -- 9.90 --

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Does anybody know why Jubilee Oil now owns 9.9% of JBM???

Jubilee Oil is 100% owned by JBM so is it not a unofficial buyback of sorts??

I have previously asked JBM to disclose information about Jubilee Oil & they replied they don't have too & so they will not :)

Previously, Jubilee Oil has not been a substainial holder in JBM(to my knowledge) so at minimum they have increased their holdings from 4.9% of JBM to 9.9% which is just over 2 million shares or around $9,000,000 worth.

Did I miss something in an announcement??

Does anybody have any idea of what is going on??

Surely it can't be a bad thing????

Is it just a typo?

33% of shares now held between Kerry,Jubilee oil(JBM) & Inco LTD.

cheers.