MARU Marula Mining Plc

 
TIDMMARU 
 
Marula Mining PLC 
 
("Marula" or the "Company") 
 
London, 22 December 2023 
 
Update on the Proposed Dual Listings in Nairobi and Johannesburg 
 
Marula Mining (AQSE: MARU), an African focused mining and development company, 
is pleased to provide an update on the Company's planned dual listing of its 
securities on the Johannesburg Stock Exchange("JSE") and the Nairobi Securities 
Exchange Plc ("NSE"). 
 
Highlights: 
 
  · Marula Mining is proceeding with its plans to list its securities on the 
Growth Enterprise Market Segment ("GEMS") of the NSE and on the AltX Market of 
the JSE as initially announced on 29 June 2023. 
 
  · Faida Investment Bank, one of the leading investment banks in Kenya, has 
been appointed as the Company's Nominated Advisor and Sponsoring Stockbroker and 
is managing the process in preparation for the listing on the Growth Enterprise 
Market Segment of the NSE. 
 
  · South African corporate advisory group Bridge Capital Advisors Pty Limited 
("Bridge Capital") has continued in its role as the Company's Corporate Advisor 
and is managing and overseeing the proposed listing on the JSE. 
 
  · All other key consultants and advisors including share registrars in the two 
jurisdictions and legal advisors have also been appointed and are progressing 
with the necessary listing activities. 
 
  · The proposed dual listings and plans to move Marula's primary listing in 
London to the Standard List of the London Stock Exchange ("LSE") forms part of 
the Company's broad strategy to establish itself as one of the leading African 
battery metals focused mining, exploration and development companies. 
 
  · The Board is confident that the proposed listings will attract investors in 
both Kenya and South Africa and will be supported by the Company's key 
stakeholders in these regions. 
 
  · On the NSE, Marula will become the first metals mining company to be listed 
on the Exchange and one of only a few dual listed companies, and through its 
listing the Company believes it will offer local and international investors 
exposure to Kenya's and Africa's mining sectors and economic growth. 
 
  · The NSE is a founder member of the African Securities Exchange Association 
and the East African Securities Exchanges Association. It is a full member of 
the World Federation of Exchanges and the Association of Futures Markets, and a 
partner Exchange in the United Nations Sustainable Stock Exchanges Initiative. 
 
  · In addition, through its proposed dual listings on both the NSE and JSE, the 
Company will benefit from the NSE and JSE participation in the African Exchanges 
Linkage Project, which allows investors in Africa cross-border trading between 
Africa's leading participating stock exchanges. 
 
  · The planned listing on both the JSE and NSE demonstrates Marula's commitment 
to the key countries it operates in and to its stakeholders within the African 
continent and recognises the vast potential and growth of the continent's 
capital markets. 
 
  · The Company is now finalising all other outstanding regulatory requirements 
in Kenya and South Africa to allow the proposed listings to proceed. 
 
  · The dual listings on the NSE and JSE are expected to now be completed in Q1 
2024. 
 
Commenting on the progress of the listings, Mr. Jason Brewer, Marula Mining PLC 
CEO said, "The decision to list on both the NSE and JSE is a testament of our 
commitment to become a truly African focused mining and development company in 
the battery metals sector. The dual listing will enable Marula Mining to expand 
its reach within the countries that we operate in and ensure that all 
stakeholders share in our success. 
 
"The dual listing also provides the opportunity to increase our visibility to 
the market and will allow us to raise the growth capital needed to develop our 
projects. Additionally, we will be able to establish Marula as one of the 
leading battery metals focused mining and development company that is truly 
African focused. 
 
"Whilst we had hoped that these dual listings would have been completed earlier 
in the year, our focus in 2023 has been on the accelerated development of our 
battery metals projects to ensure we are now  able to attract strong investors 
to these dual listings and demonstrate our ability to bring high value mining 
projects into production.  The dual listings are in addition to our planned move 
of our primary listing in London to the Standard List of the LSE, which we are 
continuing to progress as well." he added. 
 
"I look forward to updating the shareholders, old and new, on our progress with 
the dual listing as we seek to return shareholder value." 
 
Reiterating his remarks, Mr. Geoffrey Odundo, Chief Executive, NSE noted, "The 
proposed listing of Marula Mining on the NSE is a welcome development and 
underscores NSE's continued leadership as the preferred financial market 
infrastructure platform for companies seeking to raise initial and ongoing 
capital in Africa." 
 
"The planned listing will enable Marula Mining to access the wide pool of 
individual and  institutional investors in Kenya, supporting the Company's 
capital raising initiatives to accelerate its growth and development in Kenya." 
he added. 
 
Mr Bob Karina, the Chairman of Faida Investment Bank noted, "Through the listing 
of Marula Mining on the NSE, investors will have an opportunity to diversify 
their investments and participate in the mining sector, an asset class that has 
not been previously available locally to investors in Kenya and the region." 
 
Further Information 
 
The Company's decision to list on the JSE and NSE is driven by the objective to 
provide wider access for stakeholders in the region the Company operates in and 
provides Marula with the opportunity to increase its market visibility and 
offers a wider range of shareholders to invest in the Company. Additionally, 
this will provide the Company the chance to raise the necessary growth capital 
to develop the Company's portfolio, and to deliver on shareholder value. Marula 
expects the listings to be completed in Q1 2024 at the earliest opportunity. 
 
In addition to the dual listing on the JSE and NSE, Marula Mining plans to move 
its primary listing in London to the Standard List of the LSE. 
 
The Directors of Marula are responsible for the contents of this announcement. 
This announcement contains inside information for the purposes ofUKMarket Abuse 
Regulation. 
 
About Marula Mining 
 
Marula Mining (AQSE: MARU) is an African focused battery metals investment and 
exploration company and has interests in several high value mine projects in 
Africa; the Blesberg Lithium and Tantalum Mine and Korridor Lithium Project in 
South Africa, the Kinusi Copper Mine, the Nyorinyori Graphite Project, the 
NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania 
and the Nkombwa Hill Project in Zambia. 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, Central 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 the AQUIS Stock Exchange (AQSE), Marula is 
exploring opportunities to admit its shares to trading on the London Stock 
Exchange plc's Standard List or AIM Market, Kenya's Nairobi Securities Exchange 
and South Africa's Johannesburg Stock Exchange. 
 
For enquiries contact: 
 
+--------------------------------------+------------------------------+ 
|Marula Mining PLC                     |Email : jason@marulamining.com| 
|                                      |                              | 
|Jason Brewer,                         |Email : info@marulamining.com | 
|                                      |                              | 
|Chief Executive Officer               |                              | 
|                                      |                              | 
|Faith Kinyanjui Mumbi                 |                              | 
|                                      |                              | 
|Investor Relations                    |                              | 
+--------------------------------------+------------------------------+ 
|AQSE Corporate Adviser                |+44 (0)20 7213 0880           | 
|                                      |                              | 
|Cairn Financial Advisers LLP,         |                              | 
|                                      |                              | 
|Liam Murray / Ludovico Lazzaretti     |                              | 
+--------------------------------------+------------------------------+ 
|Broker                                |+44 (0)20 7469 0930           | 
|                                      |                              | 
|Peterhouse Capital Limited,           |                              | 
|Charles Goodfellow / Duncan Vasey     |                              | 
+--------------------------------------+------------------------------+ 
|Financial PR and IR                   |+44 (0)20 7138 3204           | 
|                                      |                              | 
|BlytheRay                             |                              | 
|                                      |                              | 
|Tim Blythe / Megan Ray / Said Izagaren|                              | 
+--------------------------------------+------------------------------+ 
 
Caution: 
 
Certain statements in this announcement, are, or may be deemed to be, forward 
looking statements. Forward looking statements are identi?ed 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 re?ect the Directors' current 
beliefs and assumptions and are based on information currently available to the 
Directors. 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

December 22, 2023 07:40 ET (12:40 GMT)

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