Latest news with #RichardLloyd
IOL News
12-06-2025
- Business
- IOL News
Shuka Minerals secures final regulatory approval for Kabwe mine acquisition in Zambia
Shuka Minerals said on Thursday it had received final regulatory approval for the acquisition of Leopard Exploration and Mining (LEM), the Zambian company that owns the Kabwe Zinc Mine, marking a key step in the UK-listed firm's African growth strategy. Shuka Minerals said on Thursday it had received final regulatory approval for the acquisition of Leopard Exploration and Mining (LEM), the Zambian company that owns the Kabwe Zinc Mine, marking a key step in the UK-listed firm's African growth strategy. Shuka Minerals is a UK-based exploration and development company focused on mining opportunities across Africa. It has a secondary listing on the JSE. The approval from Zambia's Competition and Consumer Protection Commission (CCPC) clears the last regulatory hurdle for the 100% acquisition of LEM, first announced in December 2024. Shuka said it has also agreed terms for a £1.5 million (R37m) unsecured, non-dilutive funding facility to cover the remaining $1.35 million (R24m) cash consideration owed to LEM's vendors. The facility is subject to final due diligence and the execution of definitive agreements. Under an amended share purchase agreement, Shuka will issue 28.64 million new ordinary shares to settle the $3m share consideration component of the deal. The shares will be issued at 7.737 pence each - a 10% discount to an agreed reference price of 8.5965p - and will represent 29.99% of the company's enlarged share capital. In lieu of deferred shares, LEM will receive 2 million warrants exercisable at 12.5p per share, expiring at the end of 2027. The warrant terms are designed to prevent LEM's vendors from exceeding 29.99% of Shuka's total voting rights post-exercise. Completion of the transaction has now been extended to no later than June 30 to allow finalisation of funding and legal documentation. 'This is a huge milestone and one which the market, shareholders and all stakeholders in Shuka have been waiting for,' CEO Richard Lloyd said. 'We look forward to completing this acquisition and progressing both Kabwe and Rukwa to realise their full potential.'
Yahoo
05-06-2025
- Business
- Yahoo
Shuka Minerals secures final regulatory nod to buy Leopard Exploration and Mining
Shuka Minerals, an Africa-focused mine operator, has received the final regulatory approval from the Competition and Consumer Protection Commission (CCPC) for its acquisition of Zambia-based Leopard Exploration and Mining (LEM). The approval paves the way for the completion of the transaction, which includes the Kabwe Zinc Mine in Zambia. The company had previously extended the completion date for the acquisition to 11 June 2025, due to the pending approval from the CCPC. With all other necessary approvals already secured, the interim unconditional authorisation is a significant milestone for Shuka Minerals. The technical committee of the board of commissioners of the CCPC granted the authorisation, confirming no significant grounds for action against the acquisition under the Zambian Competition and Consumer Act. This decision allows Shuka Minerals to proceed with the share and cash-based transaction to acquire 100% of LEM's share capital. Shuka Minerals CEO Richard Lloyd said: 'Receipt of the interim unconditional authorisation from the Technical Committee of the CCPC is another major milestone for us. 'This authorisation allows us to now move ahead and finalise the acquisition of Leopard Exploration and Mining and the Kabwe Zinc Mine, whilst we wait for the Board of Commissioners of the CCPC to formally meet and provide the final approval, and will allow us to now proceed with securing the proposed funding, expected to be on a non-dilutive basis, to allow us to complete the cash-based payment in terms of the acquisition." LEM holds a large-scale mining licence for the Kabwe Mine, which is located approximately 110km north of Lusaka, Zambia's capital. The mine was previously operated by Anglo American and Zambia Consolidated Copper Mines and was in production for 88 years until its closure in 1994. The acquisition of LEM and the Kabwe Mine represents a strategic growth opportunity for Shuka Minerals, positioning the company to expand its operations in the region and leverage the mine's potential. "Shuka Minerals secures final regulatory nod to buy Leopard Exploration and Mining" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Leader Live
15-05-2025
- Sport
- Leader Live
Broughton padel courts approved against planning recommendation
Flintshire County Council's Planning Committee green-lit the proposals from Chester and North Wales Golf Academy on Chester Road, Broughton to create two padel courts and two golf coaching bays alongside the existing site. Padel is a racquet sport created in Mexico. Typically played in doubles the court is a third the size of a tennis court and has walls. The game has the the same scoring system as tennis but the ball can be played off the walls as in squash and serves must be at or below waist height. Racquets are solid rather than strung, which has in more urban areas led to complaints about the noise level. Planning officers recommended the application be refused due to the site being in the designated 'green wedge' and being considered 'open countryside'. Officers explained that both designations considered 'openness' a factor that warrants protection, adding that the open space was seen as preventing the coalescence of Broughton and Bretton with Saltney. But councillors rejected their findings, arguing that the health benefits and the open-air nature of the sport made the golf centre an ideal location. Broughton North East Cllr Billy Mullin, who is not a member of the committee but attended as a local elected member, said: "I do feel this application should be granted. It is environmentally friendly, has no pollution issues and fits in well with our policy on health and wellbeing. "It is a opportunity for people to get active and to bring business to the east of the county and there have been no objections from consultees or the public." Saltney Ferry councillor Richard Lloyd added that with padel being the fastest growing sport in the world, this development could become a draw for players from other areas. "Padel is an up and coming sport which is likely to be in the Olympics in 2032," he said. "It is the fastest-growing sport in the world at the moment. "The sport can be played by any age group so it is excellent for the health and wellbeing of all. There is a lack of sports facilities in this area of Flintshire and it would encourage tourism, as it is so popular and at present players have to travel to the Wirral to play." There is a sporting exemption in green wedge areas for sports considered to need wide open spaces - making golf an acceptable use. But officers decided that padel did not meet he requirements for an exemption. "It is suggested that the padel courts should be positioned in an urban area," said Cllr Lloyd. "In my opinion that is completely wrong as it can be noisy and has caused complains in other areas such as Sutton Coldfield where the noise is described as 'like gunshots going off'. "So there are exceptional circumstances why the padel courts should be allowed in the green wedge in my opinion." Buckley Pentrobin Cllr Mike Peers added: "Approval of this application provides benefits that outweighs and is not harmful to the green wedge." "The Future Generations Act says it all," said Flint, Coleshill and Trewlawny Cllr Paul Cunningham. "We've got to do everything for our youth and for our older residents. I think it would be ideal and it has my full support." As per proposed conditions by Cllr Lloyd, opening times will be restricted to 7am-9pm on weekdays and 7am-7pm on weekends and bank holidays.
BBC News
18-04-2025
- Health
- BBC News
Southend United to host stem cell donor registration drive
Football fans attending a match later will be urged to sign up to become potential cancer charity DKMS will be holding a stem cell donor registration drive at its Southend United's National League home match against Braintree Town, which at least 8,000 people are expected to collaboration was inspired by stem cell donor and lifelong Shrimpers fan Richard Lloyd, 47, from Leigh-on-Sea, said knowing he could have saved a life "brought a tear to my eye." Each year, nearly 15,000 people in the UK die from blood cancer, the third most common cause of death in the 2,000 people in the UK needed a stem cell transplant at any one time, said a spokesperson from charity has registered more than 12.5 million potential donors worldwide, but minorities are under-represented. Mr Lloyd joined the register after people close to him were diagnosed with blood six years, his stem cells were matched with a man in his 50s in the United said he spent about a day in London for the donation procedure, adding: "The day I walked out of hospital, I walked out with a bounce because I could potentially save somebody's life."Due to strict anonymity rules, he knows little about the recipient, but expects to find out the outcome of the transplant in about nine months. People aged 18-55 in general good health will be able to sign up by having their mouths swabbed at the ground. Debra Hyde, from DKMS, said: "I think it is so amazing when people get bad news in their lives and think about how to help others."When you're donating, you are donating to a complete stranger. You have no idea what their politics, beliefs or background are."Dale Spiby, chief executive of Southend United Community Foundation, said: "It's why we exist as a community foundation, because we can use football for good." Follow Essex news on BBC Sounds, Facebook, Instagram and X.
Yahoo
24-03-2025
- Business
- Yahoo
MPs' pay to rise by 2.8% to £93,904 in April
MPs' salaries will rise by 2.8% to £93,904 in the next financial year, Parliament's expenses watchdog has confirmed. The Independent Parliamentary Standards Authority (IPSA) said the decision was in line with wider Government pay recommendations for public sector workers. Under the Parliamentary Standards Act, IPSA is required to review MPs' salaries by early July within the first year of a new parliament. The watchdog said it would hold a further consultation on the determination of MPs' pay for the rest of the current parliamentary term in the coming months. The increase takes an MP's salary to £93,904, up from £91,346, and is slightly below the current inflation rate of 3%. At the start of the last Parliament, in 2019, annual pay stood at £79,468. MPs do not determine their own salaries, which have been set by Ipsa since the watchdog was created in 2009 in the wake of the expenses scandal. Ipsa chairman Richard Lloyd said the body aims to 'make fair decisions on pay, both for MPs and the public' after the increase was first proposed in February. The watchdog is independent of Parliament and the Government and considers a range of metrics when deciding on pay, including national statistics on average earnings in the public sector and the wider economic climate. It comes ahead of the spring statement on Wednesday, in which the Chancellor is expected to announce spending cuts as she seeks to balance the books amid disappointing growth figures and higher-than-expected borrowing. Last year, the watchdog recommended an inflation-busting 5.5% increase to MPs' pay, lifting basic salaries to £91,346 from £86,584.
