Marula Mining Plc (AQSE:MARU) Further re Fundraise, Director dealing & Related Party Transaction

Marula Mining (AQSE: MARU), an African focused mining investment company, announces that, further to the announcement released on 27 October 2022 and 4 November 2022, the full amount of £450,000 resulting from the previously announced fundraise has now been received by the Company.

In addition, the Company has increased the fundraising to £519,500 through an additional £69,500 of oversubscriptions at the same issue price of the 27 October 2022 fundraise, being 2 pence per new ordinary share (the “Additional Fundraise”). For each two shares issued, the shareholders participating in the Additional Fundraise, will receive a warrant allowing the holder to subscribe for an additional share in the Company at an exercise price of 4 pence, exercisable until 31 December 2025 (“Additional Fundraise Warrant”). An Additional Fundraise Warrant has been issued over 1,737,500 new ordinary shares.

Related Party Transaction

Marcel (“Marc”) Nally, a Non-executive Director of the Company, subscribed for £25,000 of the total £69,500, being 1,250,000 new ordinary shares in the Additional Fundraise. Following this subscription, Mr Nally is interested in 1,250,000 ordinary shares in the Company, representing approximately 1.4 per cent. of the Company’s issued share capital.

The participation of Mr Nally in the Additional Fundraise constitutes a related party transaction under Rule 4.6 of the AQSE Growth Market Access Rulebook (the “Transaction”). The Directors of the Company independent of the Transaction confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of Marula are concerned.

Consequently, application has been made for 8,850,000 new ordinary shares to be admitted to trading on the Aquis Stock Exchange Growth Market (“Admission”) on or around 24 November 2022.

Total Voting Rights

Following Admission, the Company’s issued share capital will comprise 90,482,248 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 90,482,248. 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.

For enquiries contact:

Marula Mining PLC
Jason Brewer,
Chief Executive Officer

Faith Kinyanjui Mumbi
Investor Relations

Email : [email protected]

Email : [email protected]

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