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Europa Metals Ltd and Marula Mining PLC said on Friday they have decided to end negotiations that would have seen Europa Metals acquire Marula Mining’s unit Marula Africa Mining Holdings Ltd in a reverse takeover. The two companies said in separate statements it has become evident that the completion of the deal is unlikely to take place in the timeframe required and discussions have ceased. Europa Metals became a cash shell after it sold Europa Metals Iberia SL in November 2024. Its shares were suspended from the AIM market of the London Stock Exchange, after it failed to make a reverse takeover within six months of becoming a cash shell. Europa Metals said on Friday it is looking at alternatives to the proposed Marula transaction. The company said its shares will be cancelled from AIM on Monday next week as it has not been possible for it to complete an acquisition or acquisitions. It said it is engaging with the Johannesburg Stock Exchange about the effect the AIM cancellation will have on its secondary listing. It continues to trade on the JSE. In a separate filing, Marula Mining said it it is better positioned to deliver maximum value to shareholders as a standalone Aquis-listed business focused on critical metals. Marula’s shares are traded on Aquis Stock Exchange in London and A2X market in South Africa. It is exploring listings on the JSE, and Kenya’s Nairobi Securities Exchange. Shares in Europa were flat at 50 rand cents on Friday morning in Johannesburg. In London, Marula Mining shares were untraded at 3.15 pence each on the Aquis Stock Exchange. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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