REG - Shuka Minerals PLC - JSE Secondary Listing Update

Shuka MineralsAnnouncement

07/05/2025 07:00

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RNS Number : 5816H  Shuka Minerals PLC  07 May 2025

7 May 2025

Shuka Minerals Plc

("Shuka" or the "Company")

JSE Secondary Listing Update

Shuka Minerals Plc (AIM: SKA), an African focused mine operator and developer,
is pleased to confirm that it has received formal approval from the
Johannesburg Stock Exchange ("JSE") and South African Reserve Bank ("SARB")
for a Secondary Listing of its ordinary shares on the JSE, with trading
expected to commence on 22 May 2025.

 

Shuka retains its primary listing on the AIM Market ("AIM") of the London
Stock Exchange.

 

Highlights:

 

·    The JSE has granted approval to Shuka for a secondary listing ("JSE
Listing"), by way of introduction under the fast-track listing process
contemplated in Section 18 of the JSE Listings Requirements, of its issued and
fully paid ordinary shares of 1 pence each in the Company ("Ordinary Shares")
on the Alternative Exchange of the JSE.

 

·    Shuka will join the "FTSE - Industrial Metals and Mining" sector,
sub-sector "General Mining", under the abbreviated name "Shuka", JSE share
code "SKA" and ISIN "GB00BN47NP32".

 

·    Approval has also been received from SARB for the Secondary Listing
and classified the secondary inward listed Ordinary Shares as "domestic" for
exchange control purposes.

 

South African resident shareholders must hold their Ordinary Shares on the JSE
register subsequent to the Secondary Listing and may trade the Ordinary Shares
on the JSE without having recourse to their foreign portfolio allowance.

 

The JSE is the largest and most liquid stock exchange on the African
continent, and is home to both local and global companies. The JSE equities
markets have average daily traded value over ZAR 23 billion (c. GBP 1 billion)
and it operates on a solid foundation of liquid, robust and well-regulated
markets.

 

The JSE has 50 listed mining companies, of which 33 are dual listed. The basic
material sector on the JSE has a market capitalisation of over ZAR 5 trillion
which represents 32% of the overall JSE market capitalisation.

 

Richard Lloyd (CEO) commented:

 

"We are delighted with the approval of our secondary listing in South Africa,
which  will facilitate direct investment in Shuka by South African residents.

 

The listing will increase the potential investor pool and will enable
improved  liquidity and marketability of Shuka shares. It provides a platform
for Shuka to market itself and become more visible in Southern and Eastern
Africa, thereby providing Shuka Minerals Plc with more access to institutions
and funds within the region.

 

Shuka are excited to be joining the JSE, the pre-eminent African stock
exchange. The listing aligns with Shuka's focus on the African continent, and
we hope to attract a new investor group to the shareholder register as we
progress development of operations in Southern and Eastern Africa."

 

For Enquiries:

 Shuka Minerals Plc                    + 44 (0) 7990 503 007

 Richard Lloyd - CEO
 Strand Hanson Limited                 +44 (0) 20 7409 3494

 Financial and Nominated Advisor

 James Harris | Richard Johnson
 AcaciaCap Advisors Propriety Limited  +27 (11) 480 8500

 JSE Sponsor and Listing Advisor

 Michelle Krastanov
 Tavira Securities Limited             +44 (0) 20 7100 5100

 Joint Broker

 Oliver Stansfield | Jonathan Evans
 Peterhouse Capital Limited

 Joint Broker                          +44 (0)20 7469 0930

 Charles Goodfellow | Duncan Vasey
 Investor Relations

 Faith Kinyanjui Mumbi                 +254 746 849 110

 

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