Update on financing for Kabwe transaction
Shuka Minerals Plc is expecting to receive £815,000 from Gathoni Muchai Investments Limited via an increased loan, which will be used to settle the cash consideration for the acquisition of Leopard Exploration and Mining Limited and the Kabwe Zinc Mine. The company has received confirmation of the payment transfer instruction for this amount, which is expected to be credited to Shuka's UK bank account shortly. A further announcement will be made upon the receipt of these funds.
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Further to its announcement on 2 January 2026, the Company is shortly expecting receipt of £815,000 from African focused investment banking and corporate finance group, Gathoni Muchai Investments Limited ("GMI"), pursuant to the increased loan ("GMI Loan") entered into on 30 June 2025. The Company has received a copy of a payment transfer instruction for value today, 12 January 2026, for the above amount from GMI to Shuka's UK bank account with its auditors.
A further announcement will be made upon receipt of the funds, which will enable the Company to settle the Acquisition cash consideration with the LEM vendors.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.