REG - Thungela Resources - Dealings in Securities

Thungela ResourcesAnnouncement

11/11/2025 11:30

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RNS Number : 0864H  Thungela Resources Limited  11 November 2025

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")

 

VESTING OF FORFEITABLE SHARE AWARDS AND SUBSEQUENT SALE OF SHARES BY THE
COMPANY SECRETARY

 

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 sale transactions by the company secretary pursuant to the vesting
of one third of the forfeitable shares granted to them under the Company's
2021 Share Plan and as contemplated in the Remuneration Policy on 1 November
2024.

 

 Company Secretary:                                Tovi Ellis
 Nature of transaction:                            On market sale of vested forfeitable shares to settle tax obligations arising
                                                   from the vesting
 Class of securities:                              Ordinary shares

 Date of transaction:                              6 November 2025
 Number of vested of shares sold:                  1,052
 Volume weighted average selling price per share:  R79.17
 Highest selling price per share:                  R79.80
 Lowest selling price per share:                   R77.57
 Transaction value:                                R83,286.84

 Nature of interest:                               Direct beneficial

 

The remaining two thirds of the forfeitable share award made in 2024 will vest
in two equal tranches in 2026 and 2027, subject to the employment conditions
being met. The remaining ordinary shares underlying the unvested forfeitable
share awards will be held in escrow until such time that the shares vest
pursuant to the rules of the Company's 2021 Share Plan.

 

Clearance to deal for this transaction has been obtained in terms of the JSE
Listings Requirements.

 

Johannesburg

11 November 2025

 

UK Financial adviser and corporate broker

Panmure Liberum Limited

 

JSE Sponsor

Rand Merchant Bank (A division of FirstRand Bank Limited)

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