Wrap Text
Issue of Shares - Settlement of Historic Fees
SHUKA MINERALS PLC
(formerly Edenville Energy 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
Issue of Shares – Settlement of Historic Fees
Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer,
notifies the issue of the following new ordinary shares ("Shares").
2,762,500 new Shares are being issued to Gathoni Muchai Investments Limited ("GMI"),
of which 562,500 Shares relate to the settlement of the 3% establishment fee pursuant
to the terms of increased unsecured loan ("GMI Loan") entered into on 30 June 2025.
To date, £1.115m has been drawn down under the GMI Loan, with a further £385,000
remaining undrawn. The balance of 2,200,000 Shares are being issued to GMI at a
reference price of 4 pence per Share (being equal to the price of the recent equity
fundraise) in settlement of historic fees pursuant to GMI's consultancy agreement,
announced on 24 May 2024 ("Agreement"). The Agreement has now been
terminated according to its terms.
2,100,000 new Shares are being issued to Richard Lloyd, Chief Executive and 1,700,000
new Shares are being issued to Marc Nally, Non-Executive Director, each at a
reference price of 4 pence per Share (being equal to the price of the recent equity
fundraise) in settlement of historic contracted remuneration due to them, following
which Mr Lloyd's interest in the Company will comprise 2,100,000 Shares, representing
approximately 1.65% of the Company's enlarged issued share capital, and 2,000,000
warrants and Mr Nally's interest in the Company will comprise 1,700,000 Shares,
representing approximately 1.34% of the Company's enlarged issued share capital.
Richard Lloyd, CEO, commented:
"Whilst the Company has successfully completed a recent raise, in the interest of
continuing to preserve cash, in order to channel maximum funds into progressing the
geological studies at Kabwe, it is highly appreciated that Marc has joined me in
accepting historic salary in shares."
Related party transactions
As GMI are a substantial shareholder in the Company, the Agreement fee settlement,
as set out above, constitutes a related party transaction pursuant to Rule 13 of the
AIM Rules for Companies. The directors of the Company consider, having consulted
with the Company's Nominated Adviser, Strand Hanson Limited, that the terms of the
Agreement fee settlement are fair and reasonable in so far as the Company's
shareholders are concerned.
The issues of new Shares to Mr Lloyd and Mr Nally constitute related party transactions
pursuant to Rule 13 of the AIM Rules for Companies. The independent directors of the
Company (being all the directors save for Mr Lloyd and Mr Nally) consider, having
consulted with the Company's Nominated Adviser, Strand Hanson Limited, that the
terms of the issues of new Shares to Mr Lloyd are fair and reasonable in so far as the
Company's shareholders are concerned.
AIM application and Total voting rights
Application has been made to the London Stock Exchange for the 6,562,500 Shares
to be admitted to trading on AIM ("Admission"). It is expected that Admission will
become effective and that dealings will commence on or around 8.00 a.m. on
29 January 2026.
Following the Admission, the total issued share capital of the Company will be
127,061,139 ordinary shares, each with voting rights. The above figure may be used by
shareholders as the denominator for the calculations by which they will determine if
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.
This announcement contains inside information for the purposes of Article 7 of the
Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue
of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance
with the Company's obligations under Article 17 of MAR.
Shuka Minerals plc has its primary listing on the London Stock Exchange (AIM) and a
secondary listing on the AltX of the JSE Limited.
LONDON
26 January 2026
For Enquiries:
Shuka Miner +44 (0) 7990 503007
Richard Lloyd – CEO
Strand Hanson Limited +44 (0) 20 7409 3494
Financial and Nominated Adviser
James Harris | Richard Johnson
AcaciaCap Advisors Propriety Limited +27 (11) 480 8500
JSE Sponsor and Listing Advisor
Michelle Krastanov
Tavira Financial Limited +44 (0) 20 7100 5100
Joint Broker
Oliver Stansfield | Jonathan Evans
Peterhouse Capital Limited +44 (0)20 7469 0930
Joint Broker
Charles Goodfellow | Duncan Vase
Investor Relations +254 746 849 110
Faith Kinyanjui Mumbi
PDMR Notification Forms :
The notifications below are made in accordance with the requirements of MAR.
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Richard Lloyd
2. Marc Nally
2. Reason for the Notification
a) Position/status 1. Director – Chief Executive
2. Non-executive Director
b) Initial Initial notification
notification/amendment
3. Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Shuka Minerals plc
b) LEI 213800DBIRLNVAHNDU21
4. Details of the transaction(s):section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv)each place
where transactions have been conducted
a) Description of the Ordinary shares of 1 pence each
Financial instrument, type
of instrument
Identification code GB00BN47NP32
b) Nature of the Transaction Shares in lieu of remuneration
c) Price(s) and volume(s) Price(s) Volume(s)
4 pence 1. 2,100,000
2. 1,700,000
d) Aggregated information As set out above
Aggregated volume Price
e) Date of the transaction 23 January 2026
f) Place of the transaction Off market
SPONSOR
AcaciaCap Advisors Proprietary Limited
Date: 26-01-2026 08:21:00
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