Shuka Minerals PLC - Africa-focused mine operator and developer - Issues 2.76 million new shares to Gathoni Muchai Investments Ltd. These will settle 3% establishment fee linked to the unsecured loan signed in June last year, and historic fees related to Gathoni Muchai’s consultancy agreement. To date, £1.12 million has been drawn down under the Gathoni Muchai loan, with a further £385,000 remaining undrawn.
Shuka also says it has issued 2.1 million new shares to CEO Richard Lloyd and 1.7 million shares to Non-Executive Director Marc Nally at 4p apiece to cover historic salaries due to them. Shuka this month wrapped up its acquisition of Leopard Exploration & Mining Ltd in Zambia. Shuka raised £1.0 million through the placing of 25.0 million new shares at 4 pence each. It also said participants in the placing would be issued one warrant for each placing share, raising an additional £2 million.
Current stock price in Johannesburg: R 1.06
12-month change: listed on JSE in May 2025
Stock price in London: 3.85 pence
12-month change: down 15%
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