REG - Shuka Minerals PLC - Update on financing for Kabwe transaction

Shuka MineralsAnnouncement

12/01/2026 07:00

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RNS Number : 4908O  Shuka Minerals PLC  12 January 2026

12 January 2026

Shuka Minerals Plc

("Shuka" or the "Company")

Kabwe Mine - update on financing for Kabwe transaction

Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and
developer, provides an update on the Company's proposed acquisition
("Acquisition") of the Zambian mining and exploration company, Leopard
Exploration and Mining Limited ("LEM") and the Kabwe Zinc Mine ("Kabwe Mine")
located in central Zambia.

Further to its announcement on 2 January 2026, the Company is shortly
expecting receipt of £815,000 from African focused investment banking and
corporate finance group, Gathoni Muchai Investments Limited ("GMI"), pursuant
to the increased loan ("GMI Loan") entered into on 30 June 2025. The Company
has received a copy of a payment transfer instruction for value today, 12
January 2026, for the above amount from GMI to Shuka's UK bank account with
its auditors.

A further announcement will be made upon receipt of the funds, which will
enable the Company to settle the Acquisition cash consideration with the LEM
vendors.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed
in accordance with the Company's obligations under Article 17 of MAR.

Capitalised terms in this announcement have the same meaning as in the
Company's announcement 1 July 2025, unless otherwise defined.

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:

 Shuka Minerals Plc                     +44 (0) 7990 503007

 Richard Lloyd - CEO
  Strand Hanson Limited

 Financial and Nominated Adviser        +44 (0) 20 7409 3494

 James Harris | Richard Johnson

 AcaciaCap Advisors Propriety Limited   +27 (11) 480 8500

 JSE Sponsor and Listing Advisor

 Michelle Krastanov

 Tavira Financial 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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