Loan Conversion & Director/PDMR Shareholding

Shuka Minerals PLC

06 October 2026

 

Shuka Minerals Plc

(“Shuka” or the “Company”)

6 October 2026

Conversion of Loan & Issue of Equity

Director/PDMR Shareholding

Shuka Minerals Plc (AIM/AltX: SKA), an African focused mine operator and developer, announces that, further to its announcement of 18 September 2026, it has received a conversion notice from Richard Lloyd, CEO of the Company.

Mr Lloyd has elected to convert all of the Loan that was assigned to him being an aggregate principal amount of £100,000 into 2,500,000 new ordinary shares of £0.01 each in the capital of the Company (the “Conversion Shares”), at the agreed conversion price of 4 pence per Conversion Share.

In accordance with the terms of the Loan, the Company has also granted Richard Lloyd warrants to subscribe for an aggregate of 2,500,000 new ordinary shares at an exercise price of 8 pence per share. The warrants are exercisable on or before 20 July 2029.

Following Admission (as defined below), Richard Lloyd is beneficially interested in 5,442,136 ordinary shares in the Company, representing approximately 3.10% of the Company’s issued share capital.

Admission and total voting rights

Application will be made to the London Stock Exchange for the Conversion Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings in the Conversion Shares will commence at 8.00 a.m. on or around 8 October 2026. The Conversion Shares will rank pari passu in all respects with the Company’s existing ordinary shares.

Following Admission, the Company’s total issued share capital will comprise 175,548,474 ordinary shares, each carrying one voting right. The Company does not hold any ordinary shares in treasury.

Accordingly, the figure of 175,548,474 may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

Shuka Minerals CEO, Richard Lloyd, commented: “I am pleased to continue to increase my stake in the Company and I am committed to drive value for all shareholders.”

This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The Directors of Shuka are responsible for the contents of this announcement.

ENDS

Shuka Minerals plc has its primary listing on the London Stock Exchange (“AIM”) and a secondary listing on the AltX of the JSE Limited.

For enquiries contact:

Shuka Minerals Plc Richard Lloyd Chief Executive Officer	[phone]
Nominated Adviser Cairn Financial Advisers LLP Sandy Jamieson / Ludovico Lazzaretti / James Western	[phone]
JSE Sponsor & Listing Advisor AcaciaCap Advisors Proprietary Limited Michelle Krastanov	[phone]
Broker Tavira Financial Limited Oliver Stansfield / Jonathan Evans	[phone]
Investor Relations Olivia Lloyd	[phone]

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.

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Richard Lloyd
2	Reason for the notification
a)	Position/Status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Shuka Minerals plc
b)	LEI	213800DBIRLNVAHNDU21
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 1 pence each GB00BN47NP32
b)	Nature of the transaction	Issue of Conversion Shares
c)	Price(s) and volume(s)	Price Volume(s) 4 pence 2,500,000
d)	Aggregated information -      Aggregated volume -      Price	As above
e)	Date of transaction	6 October 2026
f)	Place of transaction	Off-market

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Name	Richard Lloyd
2	Reason for the notification
a)	Position/Status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Shuka Minerals plc
b)	LEI	213800DBIRLNVAHNDU21
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Warrants over Ordinary shares of 1 pence each GB00BN47NP32
b)	Nature of the transaction	Issue of warrants in connection with the Loan
c)	Price(s) and volume(s)	Price Volume(s) 8 pence 2,500,000
d)	Aggregated information -      Aggregated volume -      Price	As above
e)	Date of transaction	6 October 2026
f)	Place of transaction	Off-market

 

END