Thungela Resources Limited
(Incorporated in the Republic of South Africa)
Registration number: 2021/303811/06
JSE share code: TGA
LSE share code: TGA
ISIN: ZAE000296554
Tax number: 9111917259
("Thungela" or the "Company" and, together with its affiliates, the "Group")
DEALINGS IN SECURITIES ON BEHALF OF EXECUTIVE DIRECTORS FOR CONDITIONAL SHARES SUBJECT TO A HOLDING PERIOD
In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the following transactions on behalf of executive directors in terms of the Company's 2021 Share Plan and Remuneration Policy. The performance condition for the 2022 Conditional Share Award was measured on 7 March 2025. The shares held on behalf of executive directors are subject to a further two-year holding period before they will be delivered to them. The executive directors may not dispose of the shares during the holding period.
| Chief Executive Officer: | July Ndlovu |
| Date of award: | 7 March 2022 |
| Nature of transaction: | Off market provision of measured conditional shares subject to a further two-year holding period |
| Class of securities: | Ordinary shares |
| Number of securities provided: | 106,548 |
| Provision price per share*: | R113.94 |
| Value of shares subject to holding period: | R12,140,079.12 |
| Date of transaction | 17 March 2025 |
| Nature of interest: | Direct beneficial |
| Chief Financial Officer: | Gideon Frederick Smith |
| Date of award: | 7 March 2022 |
| Nature of transaction: | Off market provision of measured conditional shares subject to a further two-year holding period |
| Class of securities: | Ordinary shares |
| Number of securities provided: | 55,045 |
| Provision price per share*: | R113.94 |
| Value of shares subject to holding period: | R6,271.827.30 |
| Date of transaction | 17 March 2025 |
| Nature of interest: | Direct beneficial |
* Provision share price represents the volume weighted average price of a Thungela Resources share for the 20 days ended 14 March 2025. The highest and lowest prices traded for Thungela Resources shares over each day were as follows:
| Date | Highest price per share | Lowest price per share |
| 17 February 2025 | R123.00 | R119.84 |
| 18 February 2025 | R121.91 | R118.00 |
| 19 February 2025 | R119.50 | R116.36 |
| 20 February 2025 | R118.31 | R116.08 |
| 21 February 2025 | R117.00 | R113.49 |
| 24 February 2025 | R115.81 | R113.22 |
| 25 February 2025 | R117.61 | R113.19 |
| 26 February 2025 | R117.84 | R110.27 |
| 27 February 2025 | R113.36 | R109.00 |
| 28 February 2025 | R112.90 | R107.47 |
| 3 March 2025 | R113.44 | R107.11 |
| 4 March 2025 | R117.08 | R111.50 |
| 5 March 2025 | R118.64 | R113.51 |
| 6 March 2025 | R117.45 | R113.14 |
| 7 March 2025 | R113.40 | R110.40 |
| 10 March 2025 | R114.70 | R110.91 |
| 11 March 2025 | R116.53 | R110.91 |
| 12 March 2025 | R114.80 | R111.83 |
| 13 March 2025 | R112.89 | R109.66 |
| 14 March 2025 | R110.50 | R107.28 |
Clearance to deal in terms of the JSE Listings Requirements was obtained.
Johannesburg
19 March 2025
UK Financial adviser and corporate broker
Panmure Liberum Limited
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Notification of Dealing Forms
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | July Ndlovu | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | PDMR - Chief Executive Officer | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Thungela Resources Limited | |||
| b) | LEI | 213800EGYK3BN3SRIF27 | |||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a)
| Description of the financial instrument, type of instrument | Ordinary shares of no par value | |||
| Identification code | ISIN: ZAE000296554 | ||||
| b) | Nature of the transaction | Off market provision of measured conditional shares subject to a further two-year holding period | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R113.94 | 106,548 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 106,548 | ||||
| - Price | R12,140,079.12 | ||||
| e) | Date of the transaction | 17 March 2025 | |||
| f) | Place of the transaction | Off market | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Gideon Frederick Smith | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | PDMR - Chief Financial Officer | |||
| b) | Initial notification /Amendment | Initial notification | |||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) | Name | Thungela Resources Limited | |||
| b) | LEI | 213800EGYK3BN3SRIF27 | |||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
| a)
| Description of the financial instrument, type of instrument | Ordinary shares of no par value | |||
| Identification code | ISIN: ZAE000296554 | ||||
| b) | Nature of the transaction | Off market provision of measured conditional shares subject to a further two-year holding period | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R113.94 | 55,045 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 55,045 | ||||
| - Price | R6,271.827.30 | ||||
| e) | Date of the transaction | 17 March 2025 | |||
| f) | Place of the transaction | Off market | |||
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