Loan Note Conversion and issuance of equity

Andrada Mining Limited

20 October 2026

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 (MAR) AS IN FORCE IN THE UNITED KINGDOM PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE (RIS), THIS INSIDE INFORMATION WILL BE IN THE PUBLIC DOMAIN

Andrada Mining Limited

("Andrada" or the "Company")

Loan Note Conversion and issuance of equity

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, announces that it has received notification today from BPM Investments Limited (“BPM”) in respect of five convertible loan notes (“Conversion”). The five notes form a part of the 77 unsecured convertible loan notes ("Loan Notes") with a principal value of £100 000 each, issued by the Company in July 2023.

The total amount being converted by BPM is £577 845.28, comprising £500,000 of principal and £77 845.28 of capitalised interest. At the conversion price of 5.00 pence per Ordinary Share, which is set by the associated Loan Notes documentation, the Conversion will result in the issuance of 11 556 905 new Ordinary Shares (“Conversion Shares”). BPM is a shareholder in the Company who currently holds 69 426 746 Ordinary Shares representing approximately 3.16% of the Company’s current issued share capital of 2 198 914 748 Ordinary Shares. Following the issue of the Conversion Shares, BPM will hold 80 983 651 Ordinary Shares in the Company representing approximately 3.66% of the Company’s enlarged issued share capital of 2 210 471 653.

The total amount remaining under the Loan Notes (excluding interest) is now £7.2m (see announcement dated 18 July 2023 and announcement 29 August 2026, when the terms of the Loan Notes were varied).

Admission of shares on AIM

Application has been made to the London Stock Exchange for admission of the Convertible Loan Note Shares (being a total of 11 556 905 Ordinary Shares) to trading on AIM. It is expected that admission will become effective and dealings in all the shares will commence on AIM at 8.00 a.m. on 26 October 2026.

Total voting rights

Following Admission, the total number of Ordinary Shares in issue, with voting rights, in the capital of the Company will be 2 210 471 653. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.

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CONTACTS Andrada Mining Limited Anthony Viljoen, CEO Sakhile Ndlovu, Head of Investor Relations	[phone]
NOMINATED ADVISOR & BROKER
Zeus Capital Limited Katy Mitchell Andrew de Andrade Harry Ansell	[phone]
CORPORATE BROKER & ADVISOR
H&P Advisory Limited Andrew Chubb Matt Hasson	[phone]
VSA Capital   Andrew Monk   Brian Wong	[phone]
FINANCIAL PUBLIC RELATIONS
Tavistock Emily Moss Abigail Gilchrist	[phone] [e-mail]

About Andrada Mining Limited

Andrada Mining Limited, listed on the London Stock Exchange's AIM market, is a tin producer with a portfolio of critical metal mining and exploration assets in Namibia, a premier investment destination in Africa. The Company's strategy focuses on unlocking Namibia's abundant mineral resources through best-in-class strategic partnerships across its resource base. Andrada has evolved from a tin producer into a diversified critical minerals company with three distinct but complementary value centres, namely Uis, the producing foundation of the Company, Lithium Ridge, an increasingly significant lithium opportunity being advanced with SQM, and Brandberg West, a historically producing tin and tungsten asset with significant tungsten, tin and copper potential being developed in partnership with BWCAM. Across the portfolio, Andrada has exposure to tin, lithium, tungsten, copper and tantalum, metals that are becoming increasingly important to global energy security, advanced technology, artificial intelligence infrastructure, electrification and defence

 

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