Marula Mining (AQSE: MARU), an African-focused mining and development company, has received notification in aggregate for the exercise of warrants over 525,625 new ordinary shares in the Company at an exercise price of 4 pence per share (the “Director Warrant Shares”) held by Richard Lloyd, a director of the Company, and Gathoni Muchai Investments Limited (“GMI”), a company in which Jason Brewer, a director and Chief Executive Officer of the Company, is a director and shareholder.
| Director | Number of Director Warrant Shares issued | Exercise price | Resultant interest in ordinary shares in the Company | Resultant percentage of issued ordinary shares in the Company |
| Richard Lloyd | 184,375 | 4 pence | 3,169,375 | 1.90% |
| Jason Brewer* | 341,250 | 4 pence | 16,730,000 | 10.02% |
* the 341,250 warrants exercised by Jason Brewer are held by GMI, a company in which Jason Brewer is a director and shareholder
As announced on 3 November 2023, the Company agreed to a request by Mr Brewer for his monthly salary payments to be used going forward to exercise these and other warrants held by GMI and to complete any potential market purchases as a further sign of his commitment to the Company’s developing battery metals business. This agreement has also been extended to the Company’s Chairman, Mr Lloyd.
Admission
Application has been made for the Director Warrant Shares to be admitted to trading on the Aquis Stock Exchange Growth Market on or around 6 December 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 166,993,528 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 166,993,528. 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; the Blesberg Lithium and Tantalum Mine and Korridor Lithium Project in South Africa, the Kinusi Copper Mine, the Nyorinyori Graphite Project, the NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania and the Nkombwa Hill Project in Zambia. 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 the London Stock Exchange plc’s Standard List or AIM Market, 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: jason@marulamining.com
Email: info@marulamining.com |
