SHUKA MINERALS PLC - Conversion of Loan & Issue of Equity - Director/PDMR Shareholding

Conversion of Loan & Issue of Equity - Director/PDMR Shareholding

SHUKA MINERALS PLC
(Incorporated in England and Wales)
(Registration number 05292528)
(“Shuka Minerals” or “the Company”)
ISIN Code: GB00BN47NP32
AIM Share Code: SKA JSE Share Code: SKA

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

LONDON
6 October 2026
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                                                                          +44 (0)7990 503 007
Richard Lloyd
Chief Executive Officer
Nominated Adviser                                                                           +44 (0)20 7213 0880
Cairn Financial Advisers LLP
Sandy Jamieson / Ludovico Lazzaretti / James Western
JSE Sponsor & Listing Advisor                                                                  +27 (11) 480 8500
AcaciaCap Advisors Proprietary Limited
Michelle Krastanov
Broker                                                                                      +44 (0)20 7100 5100
Tavira Financial Limited
Oliver Stansfield / Jonathan Evans
Investor Relations                                                                          +44 (0)208 892 8329
Olivia Lloyd


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/        Initial
        Amendment

 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      Ordinary shares of 1 pence each
     instrument

     Identification code      GB00BN47NP32

b)   Nature of the            Issue of Conversion Shares
     transaction
c)   Price(s) and
     volume(s)                 Price            Volume(s)

                               4 pence           2,500,000

d)   Aggregated
     information

           -   Aggregated     As above
               volume

           -   Price

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/    Initial
     Amendment

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      Warrants over Ordinary shares of 1 pence each
     instrument

     Identification code      GB00BN47NP32
b)   Nature of the          Issue of warrants in connection with the Loan
     transaction
c)   Price(s) and
     volume(s)                Price          Volume(s)

                              8 pence         2,500,000

d)   Aggregated
     information

        -   Aggregated      As above
            volume

        -   Price

e)   Date of transaction    6 October 2026

f)   Place of transaction   Off-market


SPONSOR
AcaciaCap Advisors Proprietary Limited
Date: 06/10/2026 11:00:00
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