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EDL Edenville Energy Plc

14.25
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14 Jun 2024 - Closed
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Share Name Share Symbol Market Type Share ISIN Share Description
Edenville Energy Plc LSE:EDL London Ordinary Share GB00BN47NP32 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 14.25 14.00 14.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Shuka Minerals PLC Interim Results for the six months to 30 June 2023 (4189N)

25/09/2023 7:00am

UK Regulatory


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TIDMSKA

RNS Number : 4189N

Shuka Minerals PLC

25 September 2023

25 September 2023

SHUKA MINERALS PLC

("Shuka" or the "Company")

Interim Results for the six months to 30 June 2023

Shuka Minerals plc (AIM: SKA), an African focused mine operator and developer, announces the Company's unaudited interim results for the six months ended 30 June 2023.

CEO'S report

I am pleased to present the Company's Interim Results for the six-month period from 1 January 2023 to 30 June 2023. The period was a transformative one for the Company, particularly from a corporate perspective with a strategic investment of GBP1.47 million secured from two African focused mining investment groups, an intended significant restructuring of the Board of Directors, a change of name to Shuka Minerals plc (which was successfully approved by shareholders subsequent to the end of the period) and the application of the funds raised to not only fund its ongoing working capital requirements at its operating Rukwa Coal Mine, but also to fund due diligence costs associated with ongoing review work of potential new and strategically complimentary projects in Africa.

The most notable development during the six-month period, was the strategic investment that the Company was able to secure with Q Global Commodities Group, one of South Africa's leading independent commodity, mining, logistics and investment funds and with Gathoni Muchai Investments Limited, an East Africa based mining investment group. As part of this investment, the Company received an aggregate GBP1.47 million of new funding, with GBP575,000 received in June 2023, and the GBP893,000 balance received in September 2023 following shareholder approval at the Annual General Meeting held on 3 August 2023.

In conjunction with this strategic investment, the Company commenced a major restructuring and strengthening of its Board, and I was pleased to confirm the appointment of Mr Jason Brewer, a director of Gathoni Muchai Investments and the CEO of London-listed Marula Mining Plc, as Executive Director of the Company in June 2023. I am also looking forward to the proposed appointment of Mr Quinton van der Burgh later this year, who is the founder and CEO of Q Global Commodities and one of South Africa's leading mining entrepreneurs, and who will join the Company as Director and Non-Executive Chairman, subject to satisfactory completion of customary due diligence by the Company's Nominated Adviser. Mr Nicholas von Schirnding, resigned as a director of the Company, with effect from 31 October 2023. I would like to thank Nick for his work and commitment to the Company over the years and would like to welcome Jason and, in due course, Quinton to the Board, whom I believe will be transformative appointments for the Company as it looks to re-establish itself over the coming months as a leading African focused mining and development company.

During the period and while the Company completed its corporate restructuring and recapitalisation, the Company continued to manage day-to-day operations at its wholly owned Rukwa Coal Mine in Tanzania. Operations during the period were quite challenging as a result of the high moisture content in the run-of-mine ("ROM") coal stockpile, which impacted on the coal washing process and coal production over the period. As a result of the wash plant performance and ongoing maintenance work on plant and equipment during the period, only limited coal sales were made into the regional markets during the period. The Company continues to review its ongoing investment in the Rukwa Coal Mine and targeted production rates. In parallel with its operational activities, the Company continued in its discussions with the Mining Commission in Tanzania, to ensure ongoing compliance with local regulations, and to address previously disclosed outstanding legacy matters concerning claims and litigation and the status of the mining licence.

The strategic investment received from Gathoni Muchai Investments and Q Global Commodities has ensured that the Company has been able to fund its ongoing working capital needs and corporate and mining development activities, and importantly fund costs associated with the evaluation of potential complementary advanced mining and mine development projects across Africa with the support and active involvement of these two new major shareholders.

I look forward to providing further updates as we progress our strategy and to operating under our new company name of Shuka Minerals plc which was approved by shareholders at the Annual General Meeting held on 3 August 2023, and officially announced on 1 September 2023. This is a name which certainly reflects our position as a mine operator in east Africa and as a truly African focused mining and development company that is committed to ensuring its activities demonstrate a commitment to environmental sustainability, community engagement, and responsible mining practices.

I would like to thank all our shareholders for their ongoing support and I look forward to working alongside my fellow directors and all key stakeholders over the rest of 2023.

Noel Lyons

Chief Executive Officer

For further information please contact:

 
 Shuka Minerals Plc                      info@shukaminerals.com 
 Jason Brewer - Executive Director 
 Noel Lyons - Chief Executive Officer 
 
 Strand Hanson Limited                     +44 (0) 20 7409 3494 
 (Financial and Nominated Adviser) 
 James Harris 
 Richard Johnson 
 
 Tavira Securities Limited                 +44 (0) 20 7100 5100 
 (Joint Broker) 
 Oliver Stansfield 
 Jonathan Evans 
 
 Peterhouse Capital Limited                +44 (0) 20 3934 6630 
 (Joint Broker) 
 Charles Goodfellow 
 Duncan Vasey 
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 
                                                 Six months    Six months            Year 
                                                      ended         ended           ended 
                                                    30 June       30 June          31 Dec 
                                                         23            22              22 
                                                  Unaudited     Unaudited         Audited 
                                       Note             GBP           GBP             GBP 
 Revenue                                             68,926        56,146         183,448 
 Cost of sales                                    (151,627)     (452,484)       (896,147) 
 
 Gross loss                                        (82,701)     (396,338)       (712,699) 
 Administrative expenses                          (656,060)     (423,627)     (1,038,384) 
 
 Group operating loss                             (738,761)     (819,965)     (1,751,083) 
 Finance income                                           -             -        68 
 Finance costs                                      (7,562)         (675)         (4,747) 
 
 Loss on operations before taxation               (746,323)     (820,640)     (1,755,762) 
 
 Taxation                                                 -             -       (917) 
 
 Loss for the period after taxation               (746,323)     (820,640)     (1,756,679) 
 Other comprehensive income/(loss):                       -             -               - 
 (Loss)/gain on translation of 
  overseas subsidiary                             (335,033)       624,211         691,850 
 
 Total comprehensive loss for 
  the period                                    (1,081,356)     (196,429)     (1,064,829) 
 
 Attributable to: 
 Equity holders of the Company                  (1,080,722)     (195,155)     (1,062,161) 
 Non-controlling interest                             (634)       (1,274)         (2,668) 
 
                                                (1,081,356)     (196,429)     (1,064,829) 
 
 Loss per share 
 - basic and diluted (pence)            2            (2.54)        (3.79)          (7.97) 
 
 

The income for the period arises from the Group's continuing operations.

CONSOLIDATED statement of financial position

as at 30 June 2023

 
                                                        As at          As at          As at 
                                                      30 June        30 June         31 Dec 
                                                           23             22             22 
                                                    Unaudited      Unaudited        Audited 
 
                                          Note            GBP            GBP            GBP 
 Non-current assets 
 Property, plant and equipment             4        5,568,304      5,906,709      5,911,876 
 Intangible assets                         5          333,907        349,607        352,627 
 
                                                    5,902,211      6,256,316      6,264,503 
 Current assets 
 Inventories                                          111,516        180,124        117,766 
 Trade and other receivables                          309,778        353,457        347,984 
 Cash and cash equivalents                            440,655        477,438        237,300 
 
                                                      861,949      1,011,019        703,050 
 Current liabilities 
 Trade and other payables                           (745,718)      (308,174)      (402,200) 
 Borrowings                                          (27,817)        (5,206)       (29,376) 
 
                                                    (773,535)      (313,380)      (431,576) 
 
 Current assets less current 
  liabilities                                          88,414        697,639        271,474 
 
 Total assets less current liabilities              5,990,625      6,953,955      6,535,977 
 
 Non - current liabilities 
 Borrowings                                          (52,375)              -       (67,128) 
 Environmental rehabilitation 
  liability                                          (28,984)       (27,339)       (30,609) 
 
 Net assets                                         5,909,266      6,926,616      6,438,240 
 
 Capital and reserves 
 Called-up share capital                            4,348,744      4,176,601      4,233,744 
 Share premium account                             23,009,976     22,254,317     22,569,976 
 Share based payment reserve                          210,037        346,774        277,654 
 Foreign currency translation 
  reserve                                             937,960      1,205,354      1,272,993 
 Retained earnings                               (22,574,502)   (21,038,103)   (21,896,430) 
 
 Issued capital and reserves 
  attributable to owners of the 
  parent company                                    5,932,215      6,944,943      6,457,937 
 Non-controlling interest                            (22,949)       (18,327)       (19,697) 
 
 Total equity                                       5,909,266      6,926,616      6,438,240 
 
 

CONSOLIDATED statement of changes in equity

 
                            --------------------------------------------------Equity 
                                Interests--------------------------------------- 
                      Share        Share       Retained      Share       Foreign         Total   Non-controlling         Total 
                    Capital      Premium       Earnings     Option      Currency                        interest 
                                                Account    Reserve   Translation 
                                                                         Reserve 
                        GBP          GBP            GBP        GBP           GBP           GBP               GBP           GBP 
 At 1 January 
  2023            4,233,744   22,569,976   (21,896,430)    277,654     1,272,993     6,457,937          (19,697)     6,438,240 
 
 Comprehensive 
 Income 
 for the year 
 Foreign 
  currency 
  translation             -            -              -          -    (335,033)      (335,033)           (2,464)     (337,497) 
 Loss for the 
  year                    -       -           (745,689)          -        -          (745,689)             (634)     (746,323) 
                 ----------  -----------  -------------  ---------  ------------  ------------  ----------------  ------------ 
 Total 
  comprehensive 
  income for 
  the year                -       -           (745,689)          -    (335,033)    (1,080,722)       (3,098)       (1,083,820) 
 
 Transactions 
 with 
 owners 
 Issue of share 
  capital           115,000      460,000              -          -             -       575,000                 -       575,000 
 Share issue 
  costs                   -     (20,000)              -          -             -      (20,000)                 -      (20,000) 
 Lapsed share 
  options                 -            -         67,617   (67,617)             -             -                 -             - 
                 ----------  -----------  -------------  ---------  ------------  ------------  ----------------  ------------ 
 Total 
  transactions 
  with owners       115,000      440,000         67,617   (67,617)             -       555,000                 -       555,000 
 Non- 
  controlling 
  interest 
  share of 
  goodwill                -            -              -          -             -             -             (154)         (154) 
 
 At 30 June 
  2023            4,348,744   23,009,976   (22,574,502)    210,037     937,960       5,932,215          (22,949)     5,909,266 
                 ==========  ===========  =============  =========  ============  ============  ================  ============ 
 
 
 
 
                            --------------------------------------------------Equity 
                                Interests--------------------------------------- 
              Share       Share     Retained   Share Option       Foreign                           Total   Non-controlling       Total 
            Capital     Premium     Earnings        Reserve      Currency                                          interest 
                                     Account                  Translation 
                                                                  Reserve 
                GBP         GBP          GBP            GBP           GBP                             GBP               GBP         GBP 
  At 1 January 2022   4,176,601   22,254,317   (20,325,577)       453,614     581,143           7,140,098          (17,328)     7,122,770 
 
  Comprehensive 
  Income 
  for the year 
  Foreign currency 
   translation                -            -              -             -     624,211             624,211                 -       624,211 
  Loss for the year           -            -      (819,366)             -           -           (819,366)           (1,274)     (820,640) 
                     ----------  -----------  -------------  ------------  ----------  ------------------  ----------------  ------------ 
  Total 
   comprehensive 
   income for the 
   year                       -            -      (819,366)             -     624,211           (195,155)           (1,274)     (196,429) 
 
  Transactions with 
   owners 
  Lapsed share 
   options                    -            -        106,840     (106,840)           -                   -                 -             - 
                     ----------  -----------  -------------  ------------  ----------  ------------------  ----------------  ------------ 
  Total 
   transactions 
   with owners                -            -        106,840     (106,840)           -                   -                 -             - 
  Non- controlling 
   interest share 
   of 
   goodwill                   -            -              -             -           -                   -               275           275 
 
  At 30 June 2022     4,176,601   22,254,317   (21,038,103)       346,774   1,205,354           6,944,943          (18,327)     6,926,616 
                     ==========  ===========  =============  ============  ==========  ==================  ================  ============ 
 
 
 
 
                               --------------------------------------------------Equity 
                                    Interests--------------------------------------- 
                         Share        Share       Retained       Share       Foreign         Total   Non-controlling         Total 
                       Capital      Premium       Earnings      Option      Currency                        interest 
                                                   Account     Reserve   Translation 
                                                                             Reserve 
                           GBP          GBP            GBP         GBP           GBP           GBP               GBP           GBP 
 At 1 January 2022   4,176,601   22,254,317   (20,325,577)     453,614       581,143     7,140,098          (17,328)     7,122,770 
 
 Comprehensive 
 Income 
 for the year 
 Foreign currency 
  translation                -            -              -           -       691,850       691,850                         691,850 
 Loss for the year           -            -    (1,754,011)           -             -   (1,754,011)           (2,668)   (1,756,679) 
                    ----------  -----------  -------------  ----------  ------------  ------------  ----------------  ------------ 
 Total 
  comprehensive 
  income for the 
  year                       -            -    (1,754,011)           -       691,850   (1,062,161)           (2,668)   (1,064,829) 
 
 Transactions with 
  owners 
 Issue of share 
  capital               57,143      342,857              -           -             -       400,000                 -       400,000 
 Share issue costs           -     (20,000)              -           -             -      (20,000)                 -      (20,000) 
 Share 
  options/warrants 
  charge                     -      (7,198)              -       7,198             -             -                 -             - 
 Lapse of share 
  options/warrants           -            -        183,158   (183,158)             -             -                 -             - 
                    ----------  -----------  -------------  ----------  ------------  ------------  ----------------  ------------ 
 Total 
  transactions 
  with owners           57,143      315,659        183,158   (175,960)             -       380,000                 -       380,000 
 Non- controlling 
  interest share 
  of 
  goodwill                   -            -              -           -             -             -               299           299 
 
 At 31 December 
  2022               4,233,744   22,569,976   (21,896,430)     277,654     1,272,993     6,457,937          (19,697)     6,438,240 
                    ==========  ===========  =============  ==========  ============  ============  ================  ============ 
 
 
 

consolidated CASH FLOW STATEMENT

 
                                            Six months   Six months          Year 
                                                 ended        ended         ended 
                                               30 June      30 June        31 Dec 
                                                    23           22            22 
                                             Unaudited    Unaudited       Audited 
                                                   GBP          GBP           GBP 
 Cash flows from operating activities 
 Operating loss                              (738,761)    (819,965)   (1,751,083) 
 Depreciation                                   30,542      144,039       324,790 
 Movement in inventories                             -     (20,310)        40,903 
 Movement in trade and other receivables      (16,825)      185,761      (92,615) 
 Movement in trade and other payables          358,750    (112,135)      (26,820) 
 Loss on foreign exchange                      (1,977)    (115,391)       (4,614) 
 Expected credit losses                              -            -       242,780 
                                           -----------  -----------  ------------ 
 Net cash used in operating activities       (368,271)    (738,001)   (1,266,659) 
                                           -----------  -----------  ------------ 
 
 
 
                                                                --- 
 Tax Paid                                            -            -       (1,319) 
 
 
 Cash flows from investing activities 
 Purchase of property, plant and 
  equipment                                          -            -      (41,236) 
 Finance income                                      -           48            68 
 Net cash used in investing activities               -           48      (41,168) 
                                           -----------  -----------  ------------ 
 
 Cash flows from financing activities 
 Repayment of lease liabilities               (11,536)     (14,078)      (22,138) 
 Lease interest                                (4,483)        (723)       (1,793) 
 Other interest paid                           (3,079)            -             - 
 Proceeds on issue of ordinary 
  shares                                       614,850            -       360,150 
 Share issue costs                            (20,000)            -      (20,000) 
 
 Net cash generated from financing 
  activities                                   575,752     (14,801)       316,219 
                                           -----------  -----------  ------------ 
 
 
 Net increase/(decrease) in cash 
  and cash equivalents                         207,481    (752,754)     (992,927) 
 Cash and cash equivalents at beginning 
  of year                                      237,300    1,229,801     1,229,801 
 Exchange losses on cash and cash 
  equivalents                                  (4,126)          391           426 
 
 
 Cash and cash equivalents at 
  end of year                                  440,655      477,438       237,300 
                                           ===========  ===========  ============ 
 
 
 
 

NOTES TO THE INTERIM REPORT

   1.         Financial information and basis of preparation 

The interim financial statements of Shuka Minerals Plc are unaudited consolidated financial statements for the six months ended 30 June 2023 which have been prepared in accordance with UK adopted international accounting standards. They include unaudited comparatives for the six months ended 30 June 2022 together with audited comparatives for the year ended 31 December 2022.

The interim financial statements do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. The statutory accounts for the year ended 31 December 2022 have been reported on by the company's auditors and have been filed with the Registrar of Companies. The report of the auditors contained a qualified opinion and an Emphasis of mater paragraph on Operationalisation of up to 16% Government of Tanzania non-dilutive free carried share interest and the recoverability of VAT in Tanzania. Aside from the Qualification and Emphasis of matter paragraphs above, the auditor's report did not contain any statement under section 498 of the Companies Act 2006.

The interim consolidated financial statements for the six months ended 30 June 2023 have been prepared on the basis of accounting policies expected to be adopted for the year ended 31 December 2023. These are anticipated to be consistent with those set out in the Group's latest financial statements for the year ended 31 December 2022. These accounting policies are drawn up in accordance with adopted International Accounting Standards ("IAS") and International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.

   2.          Loss per share 

The calculation of the basic and diluted loss per share is based on the following data:

 
                             30 June 23   30 June 22   31 December 
                                                                22 
                                    GBP          GBP           GBP 
 Loss after taxation          (746,323)    (820,640)   (1,756,679) 
 
 Weighted average number 
  of shares in the period    29,329,474   21,645,575    22,036,964 
 
 Basic and diluted loss 
  per share (pence)              (2.54)       (3.79)        (7.97) 
 

The loss attributable to equity shareholders and weighted average number of ordinary shares for the purposes of calculating diluted earnings per ordinary share are identical to those used for basic earnings per ordinary share. This is because the exercise of share options and warrants would have the effect of reducing the loss per ordinary share and is therefore anti-dilutive.

   3.         Dividends 

No dividends are proposed for the six months ended 30 June 2022 (six months ended 30 June 2021: GBPnil, year ended 31 December 2021: GBPnil).

   4.    Property, plant and equipment 
 
                             Coal Production          Plant      Fixtures   Motor vehicles 
                                      assets    & machinery    & fittings                          Total 
                                         GBP            GBP           GBP              GBP           GBP 
 Cost or valuation 
  As at 1 January 
  2023                             5,855,019     1,344,491          7,554          328,480     7,535,544 
 Foreign exchange 
  adjustment                       (310.858)       (70,984)         (180)         (16,553)     (398,575) 
 
 At 30 June 2023                   5,544,161      1,273,507         7,374          311,927     7,136,969 
 
 
 Accumulated depreciation 
 As at 1 January 
  2023                               173,642      1,301,920         7,445          140,661     1,623,668 
 Depletion/Charge 
  for the year                         3,849          3,760            13           22,920        30,542 
 Foreign exchange 
  adjustment                         (9,227)       (68,846)         (180)          (7,292)      (85,545) 
 
 At 30 June 2023                     168,264      1,236,834         7,278          156,289     1,568,665 
 
 Net book value 
 As at 30 June 2023                5,375,897         36,673            96          155,638     5,568,304 
 
 
 
                             Coal Production          Plant      Fixtures   Motor vehicles 
                                      assets    & machinery    & fittings                        Total 
                                         GBP            GBP           GBP              GBP         GBP 
 Cost or valuation 
  As at 1 January 
  2022                             5,230,294      1,201,831         7,191          193,620   6,632,936 
 Foreign exchange 
  adjustment                         574,580        131,210           334           19,437     725,561 
 
 At 30 June 2022                   5,804,874      1,333,041         7,525          213,057   7,358,497 
 
 
 Accumulated depreciation 
 As at 1 January 
  2022                               114,026        925,484         7,045          134,460   1,181,015 
 Depletion/Charge 
  for the year                         3,587        132,234            18            8,200     144,039 
 Foreign exchange 
  adjustment                          12,518        100,880           334           13,002     126,734 
 
 At 30 June 2022                     130,131      1,158,598         7,397          155,662   1,451,788 
 
 Net book value 
 As at 30 June 2022                5,674,743        174,443           128           57,395   5,906,709 
 
 
 
   4.         Property, plant and equipment (continued) 
 
                             Coal Production          Plant      Fixtures   Motor vehicles 
                                      assets    & machinery    & fittings                        Total 
                                         GBP            GBP           GBP              GBP         GBP 
 Cost or valuation 
  As at 1 January 
  2022                             5,230,294      1,201,831         7,191          193,620   6,632,936 
 Additions                                 -              -             -          141,141     141,141 
 Adjustments                               -              -             -         (27,414)    (27,414) 
 Foreign exchange 
  adjustment                         624,725        142,660           363           21,133     788,881 
 
 At 31 December 
  2022                             5,855,019      1,344,491         7,554          328,480   7,535,544 
                            ----------------  -------------  ------------  ---------------  ---------- 
 
 
 Accumulated depreciation 
 As at 1 January 
  2022                               114,026        925,484         7,045          134,460   1,181,015 
 Depletion/Charge 
  for the year                        46,002        259,777            37           18,974     324,790 
 Adjustments                               -              -             -         (27,414)    (27,414) 
 Foreign exchange 
  adjustment                          13,614        116,659           363           14,641     145,277 
 
 At 31 December 
  2022                               173,642      1,301,920         7,445          140,661   1,623,668 
                            ----------------  -------------  ------------  ---------------  ---------- 
 
 Net book value 
 As at 31 December 
  2022                             5,681,377         42,571           109          187,819   5,911,876 
                            ----------------  -------------  ------------  ---------------  ---------- 
 
 
 
   5.    Intangible assets 
 
 
                                 Mining Licences         Total 
                                             GBP           GBP 
 Cost or valuation 
  As at 1 January 2023                 1,667,530     1,667,530 
 Foreign exchange 
  adjustment                            (88,530)      (88,530) 
 
 At 30 June 2023                       1,579,000     1,579,000 
                              ------------------  ------------ 
 
 
 
 
 Accumulated amortisation 
  and impairment 
 As at 1 January 2023                  1,314,903     1,314,903 
 Foreign exchange 
  adjustment                            (69,810)      (69,810) 
 
 At 30 June 2023                       1,245,093     1,245,093 
                              ------------------  ------------ 
 
 Net book value 
                              ------------------  ------------ 
 As at 30 June 2023                      333,907       333,907 
                              ------------------  ------------ 
 
 
 
   5.    Intangible assets (continued) 
 
 
                                   Mining Licences         Total 
                                               GBP           GBP 
 Cost or valuation 
  As at 1 January 2022                   1,489,604     1,489,604 
 Foreign exchange adjustment               163,644       163,644 
 
 At 30 June 2022                         1,653,248     1,653,248 
                                ------------------  ------------ 
 
 
 Accumulated amortisation 
  and impairment 
 As at 1 January 2022                    1,174,602     1,174,602 
 Foreign exchange adjustment               129,039       129,039 
 
 At 30 June 2022                         1,303,641     1,303,641 
                                ------------------  ------------ 
 
 Net book value 
                                ------------------  ------------ 
 As at 30 June 2022                        349,607       349,607 
                                ------------------  ------------ 
 
 
 
 
 
 
                                   Mining Licences         Total 
                                               GBP           GBP 
 Cost or valuation 
  As at 1 January 2022                   1,489,604     1,489,604 
 Foreign exchange adjustment               177,926       177,926 
 
 At 31 December 2022                     1,667,530     1,667,530 
                                ------------------  ------------ 
 
 
 Accumulated amortisation 
  and impairment 
 As at 1 January 2022                    1,174,602     1,174,602 
 Foreign exchange adjustment               140,301       140,301 
 
 At 31 December 2022                     1,314,903     1,314,903 
                                ------------------  ------------ 
 
 Net book value 
                                ------------------  ------------ 
 As at 31 December 2022                    352,627       352,627 
                                ------------------  ------------ 
 
 
 
 
 
   6.    Share capital 
 
                                 No            GBP                No          GBP         GBP 
                           Ordinary       Ordinary          Deferred     Deferred       Total 
                             shares         shares         shares of       shares       share 
                         of 1p each    of 0.02p/1p       0.001p each    of 0.001p     capital 
                                              each                           each 
 Issued and fully 
  paid 
    At 1 January 2022    21,645,575        216,457   396,014,437,346    3,960,144   4,176,601 
 
        On 7 December 
     2022 the company 
     issued 5,714,286 
   Ordinary 1p shares 
           at 7p each     5,714,286         57,143                 -            -      57,143 
 
    As at 31 December 
                 2022    27,359,861        273,600   396,014,437,346    3,960,144   4,233,744 
                       ============  =============  ================  ===========  ========== 
 
 
 
                               No            GBP                No          GBP         GBP 
                         Ordinary       Ordinary          Deferred     Deferred       Total 
                           shares         shares         shares of       shares       share 
                       of 1p each    of 0.02p/1p       0.001p each    of 0.001p     capital 
                                            each                           each 
 Issued and fully 
  paid 
  At 1 January 2022 
   and 30 June 2022    21,645,575        216,457   396,014,437,346    3,960,144   4,176,601 
                     ============  =============  ================  ===========  ========== 
 
 
 
 
                                  No            GBP                No          GBP         GBP 
                            Ordinary       Ordinary          Deferred     Deferred       Total 
                              shares         shares         shares of       shares       share 
                          of 1p each    of 0.02p/1p       0.001p each    of 0.001p     capital 
                                               each                           each 
 Issued and fully 
  paid 
     At 1 January 2023    27,359,861        273,600   396,014,437,346    3,960,144   4,233,744 
 
        On 31 May 2023 
    the company issued 
   11,500.000 Ordinary 
       1p shares at 5p 
                  each    11,500,000        115,000                 -            -     115,000 
 
     As at 31 December 
                  2022    38,859,861        388,600   396,014,437,346    3,960,144   4,348,744 
                        ============  =============  ================  ===========  ========== 
 
 
   7.    Distribution of interim report to shareholders 

The interim report will be available for inspection by the public at the registered office of the Company during normal business hours on any weekday and from the Company's website http://www.shukaminerals.com/ . Further copies are available on request.

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September 25, 2023 02:00 ET (06:00 GMT)

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