Wrap Text
Conversion of Loan, Creditor Settlement & 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, CREDITOR SETTLEMENT & ISSUE OF EQUITY
Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer,
announces that, further to its announcement of 18 September 2026, the specialist Australian
mining investor to whom part of the GMI Convertible Loan (the “Loan”) was assigned (the
“Investor”) has elected to convert the entirety of its portion of the Loan. In addition, a
creditor of the Company (the “Creditor”) has agreed to settle an outstanding invoice
through the issue of new ordinary shares in the Company.
The Investor has elected to convert the aggregate principal amount of £63,334.10 assigned
to it into 1,583,352 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 granted the Investor warrants
to subscribe for an aggregate of 1,583,352 new ordinary shares at an exercise price of
8 pence per share. The warrants can be exercised immediately and expire on 20 July 2029.
Separately, the Creditor has agreed to settle an outstanding invoice of £61,000 through the
issue of 1,525,000 new ordinary shares of £0.01 each in the capital of the Company (the
“Settlement Shares”) at a price of 4 pence per Settlement Share. In connection with the
settlement, the Company will also grant the Creditor 1,525,000 warrants to subscribe for new
ordinary shares at an exercise price of 8 pence per share, which can be exercised
immediately and expire on 20 July 2029.
Admission and total voting rights
Application will be made to the London Stock Exchange for the 1,583,352 Conversion Shares
and 1,525,000 Settlement Shares (together, the “New Ordinary Shares”), being 3,108,352
new ordinary shares in aggregate, to be admitted to trading on AIM (“Admission”). It is
expected that Admission will become effective and dealings in the New Ordinary Shares
will commence at 8.00 a.m. on or around 23 October 2026. The New Ordinary 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 178,656,826
ordinary shares, each carrying one voting right. The Company does not hold any ordinary
shares in treasury.
Accordingly, the figure of 178,656,826 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.
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
20 October 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 088
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: 20/10/2026 09:15:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
