1st Sep 2026 15:41
Shuka Minerals PLC - Africa-focused mine operator and developer - Agrees to an assignment by Gathoni Muchai Investments Ltd of a portion of the Gathoni convertible loan to four South African strategic investors. The assignment of about GBP800,000 gross of the loan will enable new investors under the original terms of the loan to convert for up to 20.0 million new shares at 4 pence apiece. Investors intend to convert the loan shortly after the assignment, it says.
Shuka says it will grant investors warrants to subscribe for up to a further 20.0 million new shares at 8p each, exercisable on or before July 20, 2029. The assignment will reduce the Gathoni loan outstanding from GBP1.4 million to about GBP560,000 and follows a previous reduction of GBP227,617.61 in July.
Current stock price in London: 3.41 pence, up 1.8% on Tuesday afternoon
12-month change: up 10%
Current stock price in Johannesburg: 63 rand cents
12-month change: down 32%
By Artwell Dlamini, Alliance News senior reporter South Africa
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