3rd Sep 2026 11:30
Shuka Minerals PLC - Africa-focused mine operator and developer - Agrees to an assignment by Gathoni Muchai Investments Ltd of a major portion of the remaining Gathoni convertible loan to RAB Capital Ltd. Says the assignment of GBP400,000 of the loan, plus the interest of GBP19,648 for the months of July and August, will enable RAB to convert for up to 10.5 million new shares at a price of 4 pence each.
Shuka says RAB intends to convert the loan shortly after the assignment. The company will grant the investor warrants to subscribe for up to a further 10.5 million new shares at 8p apiece, exercisable on or before July 20, 2029. This comes after Shuka said on Tuesday it had agreed to an assignment by Gathoni of the Gathoni loan to four South African strategic investors. The assignment of about GBP800,000 gross of the loan would enable new investors to convert for up to 20.0 million new shares at 4p apiece.
Current stock price in London: 3.40p, up 3.0% on Thursday morning
12-month change: up 13%
Current stock price in Johannesburg: 73 rand cents
12-month change: down 19%
By Artwell Dlamini, Alliance News senior reporter South Africa
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Shuka Minerals PLC