Marula Mining Plc - Update on AIM Listing

 

Marula Mining PLC

 

 ("Marula'' or the "Company")

20 September 2023

 

Update on AIM Listing

 

Marula Mining (AQSE: MARU) ("Marula" or the "Company') an African focused mining and development company, is pleased to update the market and shareholders on its intention to seek a listing of Marula's ordinary shares on the London Stock Exchange's AIM market ("AIM") ("Listing") and proposed dual listings on Kenya's Nairobi Securities Exchange and South Africa's Johannesburg Stock Exchange.

 

Highlights:

 

• Work continues by the Company's independent legal and technical consultants, ENS Africa and MSA Group in finalising the Legal Due Diligence and Competent Person Report on the Company's projects required as part of the Listing process
• The Reporting Accountants' workstream is also being progressed
• Despite delays in the proposed Listing, the Company is committed to obtaining a primary listing of its securities on a market that provides its shareholders and potential new investors with heightened visibility, increased liquidity and enhanced access to capital to support its growth strategy
• As a result of the increased market capitalisation of the Company over 2023 and the investment and co-development partnership and conditional Subscription Agreement with Q Global Commodities, the Company is also now considering a listing of its securities on the Standard List of the London Stock Exchange ("Standard Listing")
• After consultation with its legal and financial advisers, the Company is reviewing the merits of the Standard Listing, which is considered to be achievable in the same time frame as the AIM Listing and would not require the Company to incur any material additional costs
• Advisers have already been engaged in South Africa and in Kenya by the Company for these proposed dual listings, which the Board believes will be well supported by investors and key stakeholders in Southern and East Africa

 

Jason Brewer, Marula Mining PLC CEO said:

 

"I have a strong conviction that the primary listing of Marula needs to support the direction and growth strategy that the management and Board of the Company are looking to implement in the coming years.

 

 

"The primary listing of the Company's securities in London needs to provide us and our shareholders with heightened visibility, increased liquidity and enhanced access to a broader array of potential investors and I look forward to delivering on that and on our proposed dual listings on the Nairobi Securities Exchange and Johannesburg Stock Exchange in due course."

 

 

The Directors of Marula are responsible for the contents of this announcement.

 

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 : jason@marulamining.com   Email : info@marulamining.com
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	+44 (0)20 7213 0880
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	+44 (0)20 7469 0930
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	+44 (0)20 7138 3204

 

 

Caution

 

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.