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Marula Mining Plc - Further re Fundraise, Director dealing & RPT

Marula Mining PLC

(“Marula’’ or the “Company”)

18 November 2022

Further re Fundraise, Director dealing & Related Party Transaction

Marula Mining (AQSE: MARU), an African focused mining investment company, announces that, further to the announcement released on 27 October 2022 and 4 November 2022, the full amount of £450,000 resulting from the previously announced fundraise has now been received by the Company.

In addition, the Company has increased the fundraising to £519,500 through an additional £69,500 of oversubscriptions at the same issue price of the 27 October 2022 fundraise, being 2 pence per new ordinary share (the “Additional Fundraise”). For each two shares issued, the shareholders participating in the Additional Fundraise, will receive a warrant allowing the holder to subscribe for an additional share in the Company at an exercise price of 4 pence, exercisable until 31 December 2025 ("Additional Fundraise Warrant"). An Additional Fundraise Warrant has been issued over 1,737,500 new ordinary shares.

Related Party Transaction

Marcel (“Marc”) Nally, a Non-executive Director of the Company, subscribed for £25,000 of the total £69,500, being 1,250,000 new ordinary shares in the Additional Fundraise. Following this subscription, Mr Nally is interested in 1,250,000 ordinary shares in the Company, representing approximately 1.4 per cent. of the Company’s issued share capital.

The participation of Mr Nally in the Additional Fundraise constitutes a related party transaction under Rule 4.6 of the AQSE Growth Market Access Rulebook (the “Transaction”). The Directors of the Company independent of the Transaction confirm that, having exercised reasonable care, skill and diligence, the related party transaction is fair and reasonable insofar as the shareholders of Marula are concerned.

Consequently, application has been made for 8,850,000 new ordinary shares to be admitted to trading on the Aquis Stock Exchange Growth Market (“Admission") on or around 24 November 2022.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 90,482,248 ordinary shares of 0.01p each, with each share carrying the right to one vote.

Therefore, the total number of voting rights in the Company will be 90,482,248. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

For enquiries contact:

Marula Mining PLC
Jason Brewer,
Chief Executive Officer

Faith Kinyanjui Mumbi
Investor Relations



Email : jason@marulamining.com

Email : info@marulamining.com

AQSE Corporate Adviser
Cairn Financial Advisers LLP
Liam Murray / Ludovico Lazzaretti

+44 (0)20 7213 0880

Broker
OvalX
Tom Curran / Thomas Smith

+44 (0) 20 7392 1568

Financial PR and IR
BlytheRay
Tim Blythe / Megan Ray / Said Izagaren

+44 (0)20 7138 3204

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.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Marcel Nally

2

Reason for notification

a.

Position/Status

Director

b.

Initial notification/
Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Marula Mining plc

b.

LEI

2138002UCKAEBPYWVT15

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 instrument

Identification Code

Ordinary shares of 0.01 pence each


ISIN: GB00BNBS4S95

b.

Nature of the transaction

Purchase of shares through the Additional Fundraise

c.

Price(s) and volume(s)

Price

Volume

2p

1,250,000

d.

Aggregated information


- Aggregated Volume

- Price



N/A

N/A

e.

Date of the transaction

16 November 2022

f.

Place of the transaction

London

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Marcel Nally

2

Reason for notification

a.

Position/Status

Director

b.

Initial notification/
Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Marula Mining plc

b.

LEI

2138002UCKAEBPYWVT15

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 instrument

Identification Code

Warrants over new ordinary shares of 0.01 pence each


ISIN: GB00BNBS4S95

b.

Nature of the transaction

One warrant issued for every two new ordinary shares subscribed for as part of the Additional Fundraise

c.

Price(s) and volume(s)

Price

Volume

4p

625,000

d.

Aggregated information


- Aggregated Volume

- Price



N/A

N/A

e.

Date of the transaction

16 November 2022

f.

Place of the transaction

London