22nd Jul 2026 08:41
Shuka Minerals PLC - Africa-focused mine operator and developer - Conditionally raises GBP750,000 from a subscription for 18.75 million new shares at 4 pence each by Zambian-based investment company Menel Energy & Resources Ltd. The first tranche of GBP375,000 has been received, Shuka says, and the second one is expected by August 31. Shuka intends to grant Menel warrants to subscribe for up to a further 18.75 million new shares at an exercise price of 8p.
Skuka also says it has changed the terms of its loan from Gathoni Muchai Investments Ltd. Late in June last year, Gathoni Muchai agreed to increase its loan to Shuka to GBP2.0 million from GBP1.5 million. The final repayment date for all outstanding principal and interest has been extended to December 31, 2027. Shuka says it will make a cash payment of USD250,000 to Gathoni Muchai on or before July 31, 2026. The principal amount of the loan will be reduced by USD300,000. The remaining balance is repayable on or before December 31, 2027.
Stock price in Johannesburg: 72 rand cents
12-month change: down 29%
Stock price in London: 2.93 pence, up 13% early Wednesday
12-month change: down 9.9%
By Artwell Dlamini, Alliance News senior reporter South Africa
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