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Marula Mining Plc - Issue of Equity

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Marula Mining PLC · MARU

31/08/2023 17:27

Marula Mining Plc - Issue of Equity PR Newswire



Marula Mining PLC


 (“Marula’’ or the “Company”)

31 August 2023


Issue of Equity, PDMR Shareholding


Marula Mining (AQSE: MARU), an African focused mining and development company, announces that following completion of the Phase 1 Exploration Program at the Kinusi Copper Mine (“Kinusi” or the “Project”) as announced 29 June 2023, the Company has issued 613,876 new ordinary shares of 0.01 pence each (“Ordinary Share”) (“Fee Shares”) at an issue price of approximately 12.82 pence per new Ordinary Share (based on the 30 day VWAP of the Company’s Ordinary Shares) to  Takela Mining Tanzania Limited (“Takela”) in lieu of the US $100,000 in shares owed to Takela following the completion of an initial exploration program at Kinusi, as per the terms of agreement with Takela announced on 20 February 2023.


Following the issuance of the Fee Shares, Takela holds 4,092,626 ordinary shares in the Company, representing approximately 3.13 % of the Company’s issued share capital.

Edward Ruheni, General Manager Operations East Africa of the Company is a substantial shareholder and director of Takela.



Application has been made for the Fee Shares to be admitted to trading on the Aquis Stock Exchange Growth Market on or around 6 September 2023 (“Admission") and will rank pari passu with the ordinary shares of the Company in issue.

Total voting rights

Following Admission, the Company's issued share capital will comprise 130,798,624 ordinary shares of 0.01p each, with each share carrying the right to one vote, therefore the total number of voting rights in the Company will be 130,798,624. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.



The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.



About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper Mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.


Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.


Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.


For enquiries contact:


Marula Mining PLC

Jason Brewer,

Chief Executive Officer


Faith Kinyanjui Mumbi

Investor Relations



Email :


Email :



AQSE Corporate Adviser

Cairn Financial Advisers LLP,

Liam Murray / Ludovico Lazzaretti

+44 (0)20 7213 0880


Peterhouse Capital Limited,
Charles Goodfellow / Duncan Vasey

 +44 (0)20 7469 0930


Financial PR and IR


Tim Blythe / Megan Ray / Said Izagaren

 +44 (0)20 7138 3204




Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014


Details of the person discharging managerial responsibilities/person closely associated



Edward Ruheni



Reason for notification




General Manager Operations East Africa of the Company is a substantial shareholder and director of Takela.


Initial notification/


Initial notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



Marula Mining plc





Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted


Description of the financial instrument, type of instrument

Identification Code

Ordinary shares of 0.01 pence each




Nature of the transaction

Issue to Takela of the Fee Shares following completion of an initial exploration program at Kinusi


Price(s) and volume(s)





Price(s) Volume(s)

12.82p 613,876







Aggregated information


- Aggregated Volume


- Price






Date of the transaction

31 August 2023


Place of the transaction



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