Conditional Issue of Equity in Lieu of Fees

Marula Mining PLC

14 August 2026

 

Marula Mining PLC

("Marula'' or the "Company")

14 August 2026 

Conditional Issue of Equity in Lieu of Directors' and Management Fees and Salaries

Marula Mining PLC ("Marula" or the "Company") (AQSE: MARU; A2X: MAR), an African-focused mining and development company, is pleased to announce that its Board of Directors have agreed that its Executive Management team and Directors can elect to receive up to 100% of their respective accrued and future Director fees and salaries in Ordinary Shares in the Company in lieu of cash payments (the "Salary and Director Shares").

The issue of the Salary and Director Shares will be conditional on:

§     publication of the Company's 2024 and 2025 audited annual accounts;

§     the lifting of the current suspension of trading in the Company's ordinary shares on the Aquis Stock Exchange; and

§      shareholder approval at the Company's forthcoming 2024 and 2025 Annual General Meeting ("AGM").

Subject to satisfaction of the above conditions, including all necessary regulatory and shareholder approvals, and the Company not being subject to any closed periods or restrictions in trading, the Board of Directors will then determine the applicable pricing and any other additional associated conditions deemed applicable to be attached to the Salary and Director Shares. For the avoidance of doubt, any Salary and Director Shares issued pursuant to the arrangements described above will be excluded from the proposed Loyalty Warrant issue announced by the Company on 30 July 2026 and will not carry any entitlement to receive Loyalty Warrants under that issue.

The Board has been advised that the Company's Chief Executive Officer, Jason Brewer and Chief Operating Officer, Alpheus Nethononda, whose Directors fees and salaries have accrued since December 2023 and February 2026 respectively, intend to take 100% of their accrued Director fees and salaries in Ordinary Shares in the Company in lieu of cash payments due, subject to the above conditions. Other members of the Board of Directors including the Chairman, Mr Richard Lloyd, have also indicated their willingness to take a portion of accrued and future Director fees and salaries in Ordinary Shares in the Company.

The conditional issue of the Salary and Director Shares are a demonstration by the Company's Directors and management team of their ongoing support of the Company's activities and growth strategy and further aligns executive remuneration with long-term shareholder value creation.

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

For enquiries contact:

Marula Mining PLC Jason Brewer Chief Executive Officer Faith Kinyanjui Mumbi Investor Relations	Email: [e-mail] Email: [e-mail]
AQSE Corporate Adviser Cairn Financial Advisers LLP Liam Murray / Ludovico Lazzaretti	[phone]
A2X Markets Advisor AcaciaCap Advisors Proprietary Limited Michelle Krastanov	[phone]

About Marula Mining

Marula Mining (AQSE: MARU A2X: MAR) is an African focused battery metals investment and exploration company and has interests in several high value critical mineral mining operations and mine development and exploration projects in East and Southern Africa. 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, 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 AQUIS Stock Exchange (AQSE) in London and A2X Markets in South Africa.

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.

 

END