REG - Tharisa PLC - Results for H1 FY2022 and dividend timetable

TharisaAnnouncement

26/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220526:nRSZ8187Ma&default-theme=true

RNS Number : 8187M  Tharisa PLC  26 May 2022

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' or the 'Company')

 

Reviewed interim results for the six months ended 31 March 2022 and dividend
timetable and conversion rates

 

Tharisa, an integrated resource group critical to the energy transition and
decarbonisation of economies, with its principal operating asset being the
20-year open-pit life Tharisa Mine located in the south-western limb of the
Bushveld Complex, South Africa and also owning  Karo Mining Holdings and
Salene Chrome, development stage, low-cost, open-pit PGM and chrome assets
respectively, located on the Great Dyke in Zimbabwe, has released its interim
results for the six months ended

31 March 2022.

 

 REEF MINED           PGM PRODUCTION                            CHROME CONCENTRATE PRODUCTION

 2.83 Mt              5PGE+Au                                   776.7 kt

 up 14.6%             91.8 koz                                  up 6.3%

 (2021: 2.47 Mt)      Up 22.2%                                  (2021: 730.7 kt)

                      (2021: 75.1 koz)

 REVENUE              EBITDA                                    PBT

 US$334.0 m           US$111.3 m                                US$124.3 m

 up 6.5%              Down 10.4 %                               Up 18.8%

 (2021: US$313.6 m)   (2021: US$124.2 m)                        (2021: US$104.6 m)

 NPAT                 EARNINGS AND HEADLINE EARNINGS PER SHARE  INTERIM DIVIDEND

 US$101.6 m           US 32.7 c and US 15.5 c                   US 3 c

 Up 34.2%             EPS up 52.8% and HEPS down 29.2%

 (2021: US$75.7 m)    (2021: US 21.4 c and US 21.9 c)

 

 

 

 

 

 

This short form announcement is the responsibility of the directors and is
only a summary of the information in the full announcement. The full
announcement was released on SENS and RNS on

26 May 2022, and can be found on the Company's website at www.tharisa.com
(http://www.tharisa.com)  and can also be viewed
here, https://senspdf.jse.co.za/documents/2022/jse/isse/THA/H1results.pdf
(https://senspdf.jse.co.za/documents/2022/jse/isse/THA/H1results.pdf) . Copies
of the announcement may also be requested at the Company's registered office,
at no charge, during office hours.

 

Any investment decision should be based on the full announcement published on
SENS and RNS.

 

Ernst & Young Cyprus Limited has expressed an unmodified review opinion on
the reviewed interim condensed consolidated financial statements. That report
is available on the Company's website: www.tharisa.com
(http://www.tharisa.com) .

 

 

Dividend currency conversion rates and timetable

An interim dividend of US 3.0 cents per ordinary share has been declared. The
interim dividend will be paid on Wednesday, 29 June 2022 and will be paid from
income reserves.

 

Shareholders on the principal Cyprus register will be paid in United States
Dollar (USD), shareholders whose shares are held through Central Securities
Depositary Participants (CSDPs) and brokers and are traded on the JSE will be
paid in South African Rand (ZAR) and holders of Depositary Interests traded on
the LSE will be paid in Sterling (GBP). The currency equivalents of the
dividend, based on the weighted average of the South African Reserve Bank's
daily rate at approximately 10:30 (UTC +2) on 24 May 2022, being the currency
conversion date, are as follows:

 

                       Exchange rate     Dividend per share in payment currency
 South Africa - JSE    ZAR 15.76680/US$  47.30040 South African cents per share
 United Kingdom - LSE  GBP 0.79681/US$   2.39044 pence per share

 

The timetable for the dividend declaration is as follows:

 

Currency conversion date
 
Tuesday, 24 May 2022

Declaration date and currency conversion rates announced
                                    Thursday, 26 May 2022

Last day to trade cum-dividend rights on the JSE
 
 Monday, 13 June 2022

Last day to trade cum-dividend rights on the LSE
                                            Wednesday,
15 June 2022

Shares will trade ex-dividend rights on the JSE
 
   Tuesday, 14 June 2022

Shares will trade ex-dividend rights on the LSE
 
 Thursday, 16 June 2022

Record date for payment on both JSE and LSE
 
    Friday, 17 June 2022

Dividend payment date
 
                   Wednesday, 29 June 2022

 

No dematerialisation or rematerialisation of shares within Strate will be
permitted between Tuesday, 14 June 2022 and Friday, 17 June 2022, both days
inclusive. No transfers between registers will be permitted between Thursday,
26 May 2022 and Friday, 17 June 2022, both days inclusive.

 

Tax implications of the dividend

 

Shareholders and Depositary Interest holders should note that information
provided should not be regarded as tax advice.

 

Shareholders are advised that the dividend declared will be paid out of income
reserves and may therefore be subject to dividend withholding tax depending on
the tax residency of the shareholder.

 

South African tax residents

South African shareholders are advised that the dividend constitutes a foreign
dividend. For individual South African tax resident shareholders, dividend
withholding tax of 20% will be applied to the gross dividend of 47.30040 South
African cents per share. Therefore, the net dividend of 37.84032 South African
cents per share will be paid after 9.46008 South African cents in terms of
dividend withholding tax has been applied. Shareholders who are South African
tax resident companies are exempt from dividend tax and will receive the
dividend of 47.30040 South African cents per share. This does not constitute
legal or tax advice and is based on taxation law and practice in South Africa.
Shareholders should consult their brokers, financial and/or tax advisors with
regard to how they will be impacted by the payment of the dividend.

 
 
 
                                                UK tax
residents

UK tax residents are advised that the dividend constitutes a foreign dividend
and that they should consult their brokers, financial and/or tax advisors with
regard to how they will be impacted by the payment of the dividend.

 

Cyprus tax residents

Individual Cyprus tax residents are advised that the dividend constitutes a
local dividend and that they should consult their brokers, financial and/or
tax advisors with regard to how they will be impacted by the payment of the
dividend.

 

Additional information required by the JSE Listing Requirements

Tharisa has a total of 299 388 187 ordinary shares in issue on Thursday, 26
May 2022, of which

296 053 255 carry voting rights and are eligible to receive dividends.

 

 

By order of the Board

 

Paphos, Cyprus

26 May 2022

 

 

DIRECTORS

Loucas Pouroulis (Executive Chairman)

Phoevos Pouroulis (Chief Executive Officer)

Michael Jones (Chief Finance Officer)

Carol Bell (Lead independent non-executive director)

David Salter (Independent non-executive director)

Antonios Djakouris (Independent non-executive director)

Omar Kamal (Independent non-executive director)

Roger Davey (Independent non-executive director)

Shelley Lo (Non-executive director)

Zhong Liang Hong (Non-executive director)

 

REGISTERED ADDRESS

Office 108 - 110, S. Pittokopitis Business Centre

17 Neophytou Nicolaides and Kilkis Streets

8011 Paphos, Cyprus

www.tharisa.com

 

GROUP COMPANY SECRETARY

Sanet Findlay

The Crossing, 372 Main Road

Bryanston, Johannesburg 2022

South Africa

Email: secretarial@tharisa.com (mailto:secretarial@tharisa.com)

 

 

ASSISTANT COMPANY SECRETARY

Lysandros Lysandrides

26 Vyronos Avenue

1096 Nicosia

Cyprus

 

TRANSFER SECRETARIES

Computershare Investor Services Proprietary Limited, Cymain Registrars Limited

 

 

JSE SPONSOR

Investec Bank Limited

 

Connect with us on LinkedIn
(https://protect-za.mimecast.com/s/Hc4jCJZK7oIYv07fVi1n3?domain=linkedin.com)
and Twitter
(https://protect-za.mimecast.com/s/hll5CKO75pfnN3jUvSAEZ?domain=twitter.com)
to get further news and updates about our business.

 

Investor relations contacts:

Ilja Graulich (Head of Investor Relations and Communications)

+27 11 996 3500

+27 83 604 0820

igraulich@tharisa.com (mailto:igraulich@tharisa.com)

 

Financial PR contacts:

Bobby Morse / Ariadna Peretz / James Husband

+44 207 466 5000

tharisa@buchanan.uk.com (mailto:tharisa@buchanan.uk.com)

 

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / David McKeown / Alexander Allen

+44 207 7418 8900

 

BMO Capital Markets Limited (UK Joint Broker)

Thomas Rider / Pascal Lussier Duquette / Nick Macann

+44 207 236 1010

 

Berenberg (UK Joint Broker)

Matthew Armitt / Jennifer Lee / Detlir Elezi

+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 mining, processing, exploration,
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 a 20-year open-pit
life and the ability to extend operations underground by at least an
additional 40 years. Tharisa also owns Karo Mining Holdings and Salene Chrome,
development stage, low-cost, open-pit PGM and chrome assets respectively,
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).

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IR EELFLLELBBBF