REG - Andrada Mining Ltd - Issuance of Shares & Total Voting Rights

Andrada MiningAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250815:nRSO5037Va&default-theme=true

RNS Number : 5037V  Andrada Mining Limited  15 August 2025

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service (RIS), this inside information
will be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Issuance of shares in lieu of cash interest payments on convertible loan notes

Andrada has today issued 31 981 474 ordinary shares in the Company at a price of 2.9293 pence ("p") per ordinary share to convertible loan holders in lieu of interest cash payments (the "Convertible Loan Note Shares").
In July 2023, the Company issued 77 unsecured convertible loan notes ("Loan Notes") of £100 000 each for a total value of £7.7 million (see announcement dated 18 July 2023). The proceeds from the Loan Notes were utilised to complete the lithium pilot plant and tantalum circuit. The Loan Notes have a three-year term to 20 July 2026 and an interest rate of 12% per annum. The interest must be paid after the relevant anniversary issue date (being, in each year, 21 July). The interest is payable either in cash or by the issue of ordinary shares at a price equivalent to the 30-day VWAP prior to the anniversary date of 21 July 2025. The total interest payable is £936 833.
Admission of shares on AIM

Application has been made to the London Stock Exchange for admission of the
Convertible Loan Note Shares (being a total of 31 981 474 Ordinary Shares)
to trading on AIM. It is expected that admission will become effective and
dealings in all the shares will commence on AIM at 8.00 a.m. on 20 August
2025. The Convertible Loan Note Shares have been issued fully paid and
rank pari passu in all respects with the Company's existing Ordinary Shares.

Total voting rights

Following Admission, the total number of Ordinary Shares in issue, with voting
rights, in the capital of the Company will be 1 870 327 193. This figure may
be used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the Company's share capital pursuant to (i) the
Company's Articles, (ii) the Financial Conduct Authority's Disclosure
Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies
issued by the London Stock Exchange plc as amended from time to time.

 CONTACT
 ANDRADA MINING LIMITED
 Anthony Viljoen, CEO                         +27 (11) 268 6555

 Sakhile Ndlovu, Head of Investor Relations

 NOMINATED ADVISOR & BROKER
 Zeus Capital Limited                         +44 (0) 20 2382 9500

Katy Mitchell

 Andrew de Andrade

 Harry Ansell

 CORPORATE BROKER & ADVISOR
 H&P Advisory Limited                         +44 (0) 20 7907 8500

Andrew Chubb

 Jay Ashfield

 Matt Hasson

 Berenberg                                    +44 (0) 20 3753 3040

Jennifer Lee

 Natasha Ninkov

 FINANCIAL PUBLIC RELATIONS
 Tavistock (United Kingdom)                   +44 (0) 207 920 3150

Emily Moss

                                            andrada@tavistock.co.uk
 Josephine Clerkin

About Andrada Mining Limited

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed
technology metals mining company with a vision to create a portfolio of
globally significant, conflict-free, production and exploration assets. The
Company's flagship asset is the Uis Mine in Namibia, formerly the world's
largest hard-rock open cast tin mine and currently being re-developed as a
major tin-tantalum-lithium producer.

 

An exploration drilling programme is currently underway with the aim of
expanding the tin resource over the fourteen additional, historically mined
pegmatites that occur within a 5km radius of the current processing plant. The
Company has set a mineral resource target of 200 Mt to be delineated within
the next 5 years. The existing mine, together with its substantial mineral
resource potential, allows the Company to consider economies of scale.

 

Andrada is managed by a board of directors with broad industry knowledge and a
management team with extensive commercial and technical skills. Furthermore,
the Company is committed to the sustainable development of its operations and
the growth of its business. This is demonstrated by the way the leadership
team places significant emphasis on creating value for the wider community,
investors, and other key stakeholders. Andrada has established an
environmental, social and governance system that has been implemented at all
levels of the Company and aligns with international standards.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TVRGPUPWRUPAUAA