MANTENGU MINING LIMITED - Voluntary Announcement: General Issue of Shares for Cash

Voluntary Announcement: General Issue of Shares for Cash

MANTENGU MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1987/004821/06)
Share code: MTU  ISIN: ZAE000320347
("Mantengu" or "the Company")


VOLUNTARY ANNOUNCEMENT: GENERAL ISSUE OF SHARES FOR CASH


The board of directors of Mantengu ("the Board") hereby advises shareholders that certain parties to loan
contracts which the Company previously entered into with each of them ("Creditors") and to whom the
Company is currently indebted in an aggregate amount of R7 455 432 ("Creditor Balance"), have agreed
to convert their debt claims against Mantengu into equity at a rate of R1.50 of debt per Mantengu ordinary
share ("Share"), being a 93.58% premium to the 30-day weighted average traded price prior to the date
on which the settlement was agreed, namely 29 February 2024.

Accordingly, pursuant to the Company's general authority to issue shares for cash obtained at its annual
general meeting held on 16 August 2023, the Company will issue a total of 4 970 288 Shares to the
Creditors, in the amounts set opposite their names in the table below, to settle the Creditor Balance.

Creditor                                                              Debt                     Shares
Miklee Consulting Services (Pty) Ltd.                           R4 800 000                   3 200 000
Growth Equities (Pty) Ltd.                                      R2 103 378                   1 402 252
Opsisolve (Pty) Ltd.                                              R199 576                     133 050
KAG Trust                                                          R99 661                      66 441
Douglas Welsh                                                      R94 407                      62 938
Jenny Geyer                                                        R79 205                      52 803
Parkview Trust                                                     R79 205                      52 803
Total                                                           R7 455 432                   4 970 288


The application for the listing of the Shares will be made to the JSE in due course. The Shares do not
represent more than 5% of Mantengu's Shares in issue subsequent to the issue of the Commitment Fee
Shares as announced on SENS on 3 November 2023, and therefore this is a voluntary announcement for
shareholder information purposes.

The Shares will rank pari passu with existing listed Shares. Following the issue of the Shares, the total
issued and listed share capital of Mantengu will be 168 853 395.


Johannesburg
7 March 2024


Designated Adviser
Merchantec Capital

Date: 07-03-2024 08:45:00
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