Tharisa plc
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
A2X share code: THA
ISIN: CY0103562118
LEI: 213800WW4YWMVVZIJM90
('Tharisa plc' or the 'Company')
Dealings in securities by directors and company secretary of Tharisa and major subsidiary
In compliance with paragraph 3.63 of the JSE Limited Listings Requirements, the following information relating to dealings in securities attributable to the directors and company secretary of Tharisa and a major subsidiary, is disclosed:
Exercise of Appreciation Rights granted on 30 June 2018 (Expiration date 30 June 2023)
In terms of the rules of the Tharisa Share Award Plan, participants are entitled to receive such number of Tharisa shares equal to the increase in the market value (being the 30 day volume weighted average share price) of such shares between the date of grant and the date of exercise of vested Appreciation Rights, which may at the election of Tharisa be either cash or share settled. The following directors and/or officers have elected to exercise vested Appreciation Rights, which Tharisa elected to settle from treasury shares already in issue. Tax obligations arising as a consequence of Appreciation Rights being exercised are for the account of the participant and provision is made for the sale of sufficient shares in the open market to fund the tax obligations, if required.
| 1. Details of director/PDMR | ||
| a. Name: | Loucas Pouroulis | |
| 2. Reason for notification | ||
| a. Position/status: | Executive Chairman | |
| b. Initial notification/amendment: | Initial notification | |
| 3. Details of issuer | ||
| a. Company name: | Tharisa plc | |
| b. LEI: | 213800WW4YWMVVZIJM90 | |
| 4. Details of transaction | ||
| a. Description of instrument: Identification code: | Ordinary shares of US$0.001 | |
| b. Nature of transaction | Off-market exercise and settlement of vested Appreciation Rights | |
| c. Price and volume: | Price: | Volume: |
| d. Aggregated information: | Total: | Volume: |
| e. Transaction date: | 26 June 2023 | |
| f. Place of transaction: | Johannesburg Stock Exchange | |
| Information disclosed in accordance with the JSE Listings Requirements | ||
| Date of award: | 30 June 2018 | |
| Market value at date of award: | ZAR17.96 per share | |
| Vesting date: | 30 June 2019 and 30 June 2020 | |
| Number of Appreciation Rights exercised: | 110 054 | |
| Number of securities issued: | 14 290 | |
| Nature of interest: | Direct, beneficial | |
| Clearance to deal: | Yes | |
| 1. Details of director/PDMR | ||
| a. Name: | Phoevos Pouroulis | |
| 2. Reason for notification | ||
| a. Position/status: | Chief Executive Officer | |
| b. Initial notification/amendment: | Initial notification | |
| 3. Details of issuer | ||
| a. Company name: | Tharisa plc | |
| b. LEI: | 213800WW4YWMVVZIJM90 | |
| 4. Details of transaction | ||
| a. Description of instrument: Identification code: | Ordinary shares of US$0.001 | |
| b. Nature of transaction | Off-market exercise and settlement of vested Appreciation Rights | |
| c. Price and volume: | Price: | Volume: |
| d. Aggregated information: | Total: | Volume: |
| e. Transaction date: | 26 June 2023 | |
| f. Place of transaction: | Johannesburg Stock Exchange | |
| Information disclosed in accordance with the JSE Listings Requirements | ||
| Date of award: | 30 June 2018 | |
| Market value at date of award: | ZAR17.96 per share | |
| Vesting date: | 30 June 2019 and 30 June 2020 | |
| Number of Appreciation Rights exercised: | 99 826 | |
| Number of securities issued: | 12 962 | |
| Nature of interest: | Direct, beneficial | |
| Clearance to deal: | Yes | |
| 1. Details of director/PDMR | ||
| a. Name: | Michael Gifford Jones | |
| 2. Reason for notification | ||
| a. Position/status: | Chief Finance Officer | |
| b. Initial notification/amendment: | Initial notification | |
| 3. Details of issuer | ||
| a. Company name: | Tharisa plc | |
| b. LEI: | 213800WW4YWMVVZIJM90 | |
| 4. Details of transaction | ||
| a. Description of instrument: Identification code: | Ordinary shares of US$0.001 | |
| b. Nature of transaction | Off-market exercise and settlement of vested Appreciation Rights | |
| c. Price and volume: | Price: | Volume: |
| d. Aggregated information: | Total: | Volume: |
| e. Transaction date: | 26 June 2023 | |
| f. Place of transaction: | Johannesburg Stock Exchange | |
| Information disclosed in accordance with the JSE Listings Requirements | ||
| Date of award: | 30 June 2018 | |
| Market value at date of award: | ZAR17.96 per share | |
| Vesting date: | 30 June 2019 and 30 June 2020 | |
| Number of Appreciation Rights exercised: | 80 612 | |
| Number of securities issued: | 10 467 | |
| Nature of interest: | Direct, beneficial | |
| Clearance to deal: | Yes | |
| 1. Details of director/PDMR | ||
| a. Name: | Sanet Findlay | |
| 2. Reason for notification | ||
| a. Position/status: | Group Company Secretary | |
| b. Initial notification/amendment: | Initial notification | |
| 3. Details of issuer | ||
| a. Company name: | Tharisa plc | |
| b. LEI: | 213800WW4YWMVVZIJM90 | |
| 4. Details of transaction | ||
| a. Description of instrument: Identification code: | Ordinary shares of US$0.001 | |
| b. Nature of transaction | Off-market exercise and settlement of vested Appreciation Rights | |
| c. Price and volume: | Price: | Volume: |
| d. Aggregated information: | Total: | Volume: |
| e. Transaction date: | 26 June 2023 | |
| f. Place of transaction: | Johannesburg Stock Exchange | |
| Information disclosed in accordance with the JSE Listings Requirements | ||
| Date of award: | 30 June 2018 | |
| Market value at date of award: | ZAR17.96 per share | |
| Vesting date: | 30 June 2019 and 30 June 2020 | |
| Number of Appreciation Rights exercised: | 23 469 | |
| Number of securities issued: | 3 047 | |
| Nature of interest: | Direct, beneficial | |
| Clearance to deal: | Yes | |
| 1. Details of director/PDMR | ||
| a. Name: | Michelle Louise Taylor | |
| 2. Reason for notification | ||
| a. Position/status: | Executive Director: Tharisa Minerals (Pty) Ltd | |
| b. Initial notification/amendment: | Initial notification | |
| 3. Details of issuer | ||
| a. Company name: | Tharisa plc | |
| b. LEI: | 213800WW4YWMVVZIJM90 | |
| 4. Details of transaction | ||
| a. Description of instrument: Identification code: | Ordinary shares of US$0.001 | |
| b. Nature of transaction | Off-market exercise and settlement of vested Appreciation Rights | |
| c. Price and volume: | Price: | Volume: |
| d. Aggregated information: | Total: | Volume: |
| e. Transaction date: | 26 June 2023 | |
| f. Place of transaction: | Johannesburg Stock Exchange | |
| Information disclosed in accordance with the JSE Listings Requirements | ||
| Date of award: | 30 June 2018 | |
| Market value at date of award: | ZAR17.96 per share | |
| Vesting date: | 30 June 2019 and 30 June 2020 | |
| Number of Appreciation Rights exercised: | 79 665 | |
| Number of securities issued: | 10 344 | |
| Nature of interest: | Direct, beneficial | |
| Clearance to deal: | Yes | |
# Market price on exercise date - Using the price at close of business on 23 June 2023
Paphos, Cyprus
29 June 2023
JSE Sponsor
Investec Bank Limited
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+27 83 604 0820
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+44 203 207 7800
Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)
Carlyle Whittaker
+27 11 294 0061
About Tharisa
Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates exploration, mining, processing and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the Tharisa Mine, located in the south-western limb of the Bushveld Complex, South Africa. The mechanised mine has an 18 year pit life and can extend operations underground by at least 40 years. Tharisa also owns Karo Mining Holdings a low-cost, open-pit PGM asset under construction and located on the Great Dyke in Zimbabwe. The Company is committed to reducing its carbon emissions by 30% by 2030 and the development of a roadmap is continuing to be net carbon neutral by 2050. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of the London Stock Exchange (LSE: THS).
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