Announcement • Jan 30
East and Southern African Battery and Critical Metal Mines of Marula Mining PLC cancelled the acquisition of Europa Metals Limited (AIM:EUZ) in a reverse merger transaction. East and Southern African Battery and Critical Metal Mines of Marula Mining PLC signed a heads of terms to acquire Europa Metals Limited (AIM:EUZ) for £30.1 million in a reverse merger transaction on November 6, 2025. Europa is proposing to complete the acquisition of Marula Africa, through the issue of 9 new Europa shares for each 1 Marula share currently on issue ("Acquisition Shares"). The Company's Board of Directors intend to distribute these shares to shareholders (the "Distribution") in due course subject to, inter alia, the completion of the requisite conditions set out above. Conditional on completion of the Distribution, Marula Mining's existing shareholders will then hold shares in 'New Marula' listed on the AIM Market of the London Stock Exchange and on the Johannesburg Stock Exchange AltX market in South Africa and in 'Old Marula' that will remain listed on the Aquis Stock Exchange and on South Africa's A2X Markets. A change in name for Europa is also proposed to take place, to reflect the "New Marula" identity. In related transaction, Europa will also be party to a bridge funding facility which is being extended to Marula and have agreed to take on the obligations of the Company (Marula) under this agreement if and subject to the completion of the Proposed Transaction.
The Proposed Transaction remains subject to the satisfactory completion of due diligence, execution of definitive legal agreements, completion of a concurrent fundraising by Europa, approval of Europa shareholders at a general meeting, receipt of all necessary regulatory and third-party approvals, and the re-admission of the enlarged issued share capital of Europa to trading on AIM.
James Biddle and Roland Cornish of Beaumont Cornish Limited acted as financial advisor to Europa Metals Ltd. Liam Murray and Ludovico Lazzaretti of Cairn Financial Advisers LLP and Michelle Krastanov of AcaciaCap Advisors Proprietary Limited acted as financial advisor to Marula Mining PLC.
East and Southern African Battery and Critical Metal Mines of Marula Mining PLC cancelled the acquisition of Europa Metals Limited (AIM:EUZ) in a reverse merger transaction on January 30, 2026. Despite both parties' best efforts to advance the reverse takeover, it has become evident that completion is unlikely to take place within the anticipated timeframe, and discussions have therefore ceased. Announcement • Nov 26
Europa Metals Limited, Annual General Meeting, Jan 16, 2026 Europa Metals Limited, Annual General Meeting, Jan 16, 2026. Board Change • Feb 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. Independent Non-Executive Director & Company Secretary Dan Smith was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
