Wrap Text
Conversion of Loan & Issue of Equity
SHUKA MINERALS PLC
(Incorporated in England and Wales)
(Registration number 05292528)
(“Shuka Minerals” or “the Company”)
ISIN Code: GB00BN47NP32
AIM Share Code: SKA JSE Share Code: SKA
Conversion of Loan & Issue of Equity
Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, announces
that, further to its announcement of 1 September 2026, it has received conversion notices from the
strategic investors to whom part of the GMI Convertible Loan (the “Loan”) was assigned (the
“Investors”).
The Investors have elected to convert all of the Loan that was assigned to them being an aggregate
principal amount of £796,439 into 19,910,977 new ordinary shares of £0.01 each in the capital of the
Company (the “Conversion Shares”), at the agreed conversion price of 4 pence per Conversion
Share.
In accordance with the terms of the Loan, the Company has also granted the Investors warrants to
subscribe for an aggregate of 19,910,977 new ordinary shares at an exercise price of 8 pence per
share. The warrants are exercisable on or before 20 July 2029.
Admission and total voting rights
Application will be made to the London Stock Exchange for the Conversion Shares to be admitted
to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings in
the Conversion Shares will commence at 8.00 a.m. on or around 8 September 2026. The Conversion
Shares will rank pari passu in all respects with the Company’s existing ordinary shares.
Following Admission, the Company’s total issued share capital will comprise 163,673,474 ordinary
shares, each carrying one voting right. The Company does not hold any ordinary shares in treasury.
Accordingly, the figure of 163,673,474 may be used by shareholders as the denominator for the
calculations by which they determine whether they are required to notify their interest in, or a change
to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Shuka Minerals CEO, Richard Lloyd, commented: “It is encouraging to add further supportive
shareholders who share the Shuka vision and path forward. Welcome. As South African based
investors it demonstrates the regional desire to be involved in smaller mining companies as
shareholders. Hopefully it will encourage further volume on the JSE going forward.”
This announcement contains inside information for the purposes of the UK Market Abuse Regulation.
The Directors of Shuka are responsible for the contents of this announcement.
ENDS
LONDON
2 September 2026
Shuka Minerals plc has its primary listing on the London Stock Exchange (“AIM”) and a secondary
listing on the AltX of the JSE Limited.
For enquiries contact:
Shuka Minerals Plc +44 (0)7990 503 007
Richard Lloyd
Chief Executive Officer
Nominated Adviser +44 (0)20 7213 0880
Cairn Financial Advisers LLP
Sandy Jamieson / Ludovico Lazzaretti / James Western
JSE Sponsor & Listing Advisor +27 (11) 480 8500
AcaciaCap Advisors Proprietary Limited
Michelle Krastanov
Broker +44 (0)20 7100 5100
Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Investor Relations +44 (0)208 892 8329
Olivia Lloyd
Caution:
Certain statements in this announcement are, or may be deemed to be, forward looking statements.
Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'',
"should", ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative
of those, variations or comparable expressions, including references to assumptions. These forward-
looking statements are not based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations, performance, future
capital and other expenditures (including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such forward looking statements
reflect the Directors' current beliefs and assumptions and are based on information currently
available to the Directors.
SPONSOR
AcaciaCap Advisors Proprietary Limited
Date: 02/09/2026 03:26:00
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