Shuka Minerals Plc announced the conversion of a £796,439 loan into 19,910,977 new ordinary shares at a price of 4 pence per share. The loan was part of a GMI Convertible Loan assigned to strategic investors. In conjunction with the conversion, the company issued warrants entitling investors to subscribe for an additional 19,910,977 ordinary shares at 8 pence per share, exercisable until July 20, 2029.
The new shares are expected to be admitted to trading on the London Stock Exchange’s AIM market at approximately 12:00 BST on September 8, 2026. Following the admission, Shuka’s total issued share capital will rise to 163,673,474 ordinary shares, with each share carrying one voting right and no treasury shares.
The company, which operates and develops mines across Africa, has a primary listing on AIM and a secondary listing on the JSE Limited’s AltX. Shuka Minerals’ Chief Executive Officer Richard Lloyd stated that the participation of South Africa-based investors reflects regional interest in smaller-scale mining companies aligned with the firm’s strategic direction.
