REG - Shuka Minerals PLC - Directorate Changes & Notice of AGM

Shuka MineralsAnnouncement

17/03/2026 07:00

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RNS Number : 8645W  Shuka Minerals PLC  17 March 2026

17 March 2026

Shuka Minerals Plc

("Shuka'' or the "Company")

Directorate Changes & Notice of Annual General Meeting ("AGM")

Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and
developer, announces (i) the following directorate changes to the Company's
Board with immediate effect, and (ii) a notice of AGM.

Directorate Changes

The Company has appointed Richard John Hawken ("Mr Hawken") as Non-executive
Director of the Company and Ms Margaret Mudenda ("Ms Chalwe-Mudenda") as a
Non-executive Director of the Company. Both of these appointments are with
immediate effect.

Mr Hawken has over 15 years' experience in commodity sales, trading and
marketing across Africa, including in senior management and executive roles in
South Africa and the United Kingdom ("UK"). He has particular experience in
the sourcing and trading of base metals and critical minerals across Southern,
East and Central Africa, and has worked with UK and European-headquartered
commodity trading groups, London Stock Exchange-listed mining companies and
private mining businesses.

Ms Chalwe-Mudenda is a Zambian lawyer with over 25 years' experience in legal
practice, financial services and regulatory affairs. She holds an LLB from the
University of Zambia, an LLM from the University of Southampton and is a
member of the Law Association of Zambia. Ms Chalwe-Mudenda is a partner at
Chalwe & Kabalata Legal Practitioners and previously served as Director
General of the Zambia Information and Communications Authority from 2010 to
2017. She has held a number of positions, including with Citibank Zambia,
Madison Financial Services Plc and Zambeef Zambia Plc. She currently serves as
Chair of the Board of Sanlam Life Insurance Zambia Limited.

The information required pursuant to Rule 17 and Schedule 2(g) of the AIM
Rules for Companies on Mr  Hawken and Ms Chalwe-Mudenda can be found in the
Appendix below.

Notice of AGM

The Company also announces that the Company's AGM will be held at the offices
of Fasken Martineau LLP, 6th Floor, 100 Liverpool Street, London, EC2M 2AT on
10 April 2026 at 11h00. A copy of the Notice of AGM and Proxy Form has been
sent to shareholders and will be available shortly on the Company's website
www.shukaminerals.com (http://www.shukaminerals.com)

CEO Richard Lloyd commented: "I would like to welcome Richard and Margaret to
the Shuka board. They join the Company at an exciting time following the
completion of the Kabwe acquisition earlier this quarter.

"Their expertise in commodities and in the Zambian legal and regulatory
systems respectively are designed to complement and strengthen the existing
Board and management team. We already have a world class project in Kabwe. We
are now focused on ensuring the correct team is in place to unlock the
significant value that exists therein.

 

"As the Kabwe exploration and development programmes advance in the coming
weeks and months we look forward updating the market further."

About Shuka Minerals:

Shuka Minerals plc is a dynamic and innovative mining and development company,
committed to exploring and harnessing Africa's mineral resources. Shuka's
focus lies in the acquisition and development of valuable minerals, aiming to
contribute to the sustainable growth and development of local communities.

Shuka has an operating coal mine in Tanzania, which capacity is under
consideration for upgrading by management depending on funding and strategic
direction.

 

The Company has completed the purchase of 100% of Leopard Exploration and
Mining Limited's ("LEM") share capital. LEM is the registered holder of a 33.3
sq km large-scale mining license 12848-HQ-LML issued in December 2014 for a
period of 25 years, and which includes the historical Kabwe Mine located in
central Zambia, approx. 110km north of the capital city of Lusaka.

 

The Kabwe Mine was previously operated Zambia Consolidated Copper Mines
Limited along with Anglo American Technical Services and was mined
continuously for 88 years until its closure in 1994, due to the commodity
prices at the time. It was ranked as one of the world's highest-grade zinc and
lead mining operations and is considered one of the most famous mines in
Africa, holding a position of national economic importance in Zambia.

 

With sufficient funding, the Company is commencing a 3-phase exploration and
development programme at the Kabwe Mine as part of its plans to re-commence
both open-pit and underground mining and processing operations.

 

Shuka is also considering projects in Zambia, South Africa, and other African
countries that are rich in copper, lead, and zinc.

 

The Directors of Shuka are responsible for the contents of this announcement.

ENDS

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 0880

 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                                     +254 746 849 110

 Faith Kinyanjui Mumbi

 

Appendix

Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the
following information is disclosed in respect of Richard John Hawken (aged
52):

 

 Current Directorships  Previous Directorships held in the past five years
 Mosi Copper Limited    HNV Metals Limited
                        Critical Mineral Resources PLC

 

Mr Hawken does not hold any shares, options or warrants in the Company as at
the date of this announcement.

 

There is no further information regarding Mr Hawken required to be disclosed
under the AIM Rules.

 

Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies, the
following information is disclosed in respect of Margaret Kunda Chalwe Mudenda
(aged 53):

 

 Current Directorships                           Previous Directorships held in the past five years
 Chalwe & Kabalata Legal Practitioners           Citi Bank Zambia Limited
 Chalwe and Kabalata Corporate Services Limited  Madison Financial Services PLC
 Liquid Telecommunications Zambia Limited        Medical Stores Limited
 Sanlam Life Insurance Zambia Limited            Zambeef Products PLC
 Wonderful Group of Companies Limited

 

Ms Chalwe-Mudenda does not hold any shares, options or warrants in the Company
as at the date of this announcement.

 

There is no further information regarding Ms Chalwe-Mudenda required to be
disclosed under the AIM Rules.

 

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.

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