Marula CEO Jason Brewer
UK-based battery metals miner Marula Mining has announced that it will undertake a secondary listing of its shares on South Africa’s A2X Markets exchange, with shares due to become available for trade from April 25.
The company’s primary listing on the Acquis Stock Exchange remains unaffected by the listing on A2X.
The issued share capital will comprise 176-million ordinary shares of 0.01p apiece.
Marula has a market capitalisation of R381-million, or £15.8-million, and an aggressive growth strategy to invest in high-value battery metal mining sectors throughout East, Central and Southern Africa.
The company holds interests in the Blesberg lithium and tantalum mine, in South Africa; the Larisoro manganese mine, in Kenya; the Nkombwa Hill nobium/rare earths/phosphate project, in Zambia; and the Kinusi copper, Nyorinyori graphite and Bagamoyo graphite projects, in Tanzania.
Marula CEO Jason Brewer comments that the A2X listing will enable direct investment in Marula by South African investors looking to participate in the company’s success.
He adds that the listing bodes well for when Marula acquires more projects in South Africa, as it plans to do.
The A2X listing also strengthens the company’s shareholder base overall and improves the liquidity and marketability of Marula shares.
In turn, A2X CEO Kevin Brady says Marula’s listing marks the second inward listing for the stock exchange this year, and forms part of A2X’s strategy to expand the number of companies and products available in the local marketplace.
A2X currently has 181 instruments listed, with a combined market capitalisation of R9-trillion.
Meanwhile, Marula continues to seek a listing on the JSE.
"I look forward to the opportunities and increased market exposure that this will likely bring for the company as we continue to grow and accelerate our mining and new mine development activities in Africa,” Brewer concludes.