Marula Mining PLC - Africa-focused mining company - Says it will list A2X exchange in South Africa on Thursday next week. This secondary listing comes in addition to the company's ongoing plans for the listing on the Johannesburg Stock Exchange. Says the South African Reserve Bank has approved the A2X secondary inward listing. Marula will retain its primary listing on the Aquis Stock Exchange in the UK. Marula says the secondary listing on A2X will enlarge its shareholder base and provide South African investors with an opportunity to invest in the company.
"We are delighted to announce the successful completion of our secondary listing on South Africa's A2X market," Marula Chief Executive Officer Jason Brewer says. "This achievement comes at a pivotal moment as we actively advance operations at our key producing asset, the Blesberg lithium & tantalum mine, located in the Northern Cape Province of South Africa."
On Thursday, Marula said it had conditionally allotted 54.1 million new shares at a price of 3.75 pence each to the subscriber, an affiliate of Q Global Commodities Group, under the subscription of shares agreement. This relates to GBP2.0 million owed to the subscriber for equipment and expenses linked to the projects. It said at the time the allotment of the subscription shares is conditional on regulatory approval in South Africa.
Stock price: 8.565 pence per share
12-month change: down 25%
By Artwell Dlamini, Alliance News reporter
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