REG - Thungela Resources - Dealings in Securities
27/03/2026 14:00
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RNS Number : 4961Y Thungela Resources Limited 27 March 2026
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")
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND PRESCRIBED OFFICERS
In compliance with paragraphs 6.77 to 6.89 of the Listings Requirements of the
JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the
following transactions. The transactions relate to the vesting of forfeitable
share awards and the subsequent on market sale of shares by executive
directors and prescribed officers to settle tax obligations arising from such
vesting. The vesting occurred in terms of the Company's 2021 Share Plan and as
contemplated in the Remuneration Policy.
Chief Financial Officer Deon Smith
Nature of transaction: On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting
Class of securities: Ordinary shares
Number of shares: 4,743
Transaction value: R754,265.69
Trading period: 24 - 25 March 2026
Nature of interest: Direct beneficial
Date: Number of Shares: VWAP: Highest Price: Lowest Price: Transaction Value:
24 March 2026 2,669 R163.19 R168.24 R152.02 R435,554.11
25 March 2026 2,074 R153.67 R162.12 R150.11 R318,711.58
Chief Operations Officer Johan van Schalkwyk
Nature of transaction: On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting
Class of securities: Ordinary shares
Number of shares: 3,698
Transaction value: R588,082.78
Trading period: 24 - 25 March 2026
Nature of interest: Direct beneficial
Date: Number of Shares: VWAP: Highest Price: Lowest Price: Transaction Value:
24 March 2026 2,081 R163.19 R168.24 R152.02 R339,598.39
25 March 2026 1,617 R153.67 R162.12 R150.11 R248,484.39
Executive Head of Technical Leslie Martin
Nature of transaction: On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting
Class of securities: Ordinary shares
Number of shares: 3,212
Transaction value: R510,800.20
Trading period: 24 - 25 March 2026
Nature of interest: Direct beneficial
Date: Number of Shares: VWAP: Highest Price: Lowest Price: Transaction Value:
24 March 2026 1,808 R163.19 R168.24 R152.02 R295,047.52
25 March 2026 1,404 R153.67 R162.12 R150.11 R215,752.68
Executive Head of Human Resources Lesego Mataboge
Nature of transaction: On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting
Class of securities: Ordinary shares
Number of shares: 2,249
Transaction value: R358,255.91
Trading period: 24 - 25 March 2026
Nature of interest: Direct beneficial
Date: Number of Shares: VWAP: Highest Price: Lowest Price: Transaction Value:
24 March 2026 1,329 R163.19 R168.24 R152.02 R216,879.51
25 March 2026 920 R153.67 R162.12 R150.11 R141,376.4
Executive Head of Corporate Affairs Mpumi Sithole
Nature of transaction: On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting
Class of securities: Ordinary shares
Number of shares: 2,249
Transaction value: R358,255.91
Trading period: 24 - 25 March 2026
Nature of interest: Direct beneficial
Date: Number of Shares: VWAP: Highest Price: Lowest Price: Transaction Value:
24 March 2026 1,329 R163.19 R168.24 R152.02 R216,879.51
25 March 2026 920 R153.67 R162.12 R150.11 R141,376.4
Executive Head of Marketing Bernard Dalton
Nature of transaction: On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting
Class of securities: Ordinary shares
Number of shares: 2,774
Transaction value: R441,303.14
Trading period: 24 - 25 March 2026
Nature of interest: Direct beneficial
Date: Number of Shares: VWAP: Highest Price: Lowest Price: Transaction Value:
24 March 2026 1,578 R163.19 R168.24 R152.02 R257,513.82
25 March 2026 1,196 R153.67 R162.12 R150.11 R183,789.32
The remaining ordinary shares underlying the unvested forfeitable share awards
will be held in escrow until they vest subject to the employment conditions
being met.
Clearance for these transactions has been obtained in accordance with
paragraph 6.83 of the JSE Listings Requirements.
Johannesburg
27 March 2026
UK Financial adviser and corporate broker
Panmure Liberum Limited
JSE 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 Deon 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 On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting.
c) Price(s) and volume(s)
Price(s) Volume(s)
R163.19 2,669
R153.67 2,074
d) Aggregated information
- Aggregated volume 4,743
- Price R754,265.69
e) Date of the transaction 24 - 25 March 2026
f) Place of the transaction On market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Johan van Schalkwyk
2 Reason for the notification
a) Position/status PDMR - Chief Operations 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 On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting.
c) Price(s) and volume(s)
Price(s) Volume(s)
R163.19 2,081
R153.67 1,617
d) Aggregated information
- Aggregated volume 3,698
- Price R588,082.78
e) Date of the transaction 24 - 25 March 2026
f) Place of the transaction On market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Leslie Martin
2 Reason for the notification
a) Position/status PDMR - Executive Head of Technical
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 On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting.
c) Price(s) and volume(s)
Price(s) Volume(s)
R163.19 1,808
R153.67 1,404
d) Aggregated information
- Aggregated volume 3,212
- Price R510,800.20
e) Date of the transaction 24 - 25 March 2026
f) Place of the transaction On market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Lesego Mataboge
2 Reason for the notification
a) Position/status PDMR - Executive Head of Human Resources
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 On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting.
c) Price(s) and volume(s)
Price(s) Volume(s)
R163.19 1,329
R153.67 920
d) Aggregated information
- Aggregated volume 2,249
- Price R358,255.91
e) Date of the transaction 24 - 25 March 2026
f) Place of the transaction On market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Mpumi Sithole
2 Reason for the notification
a) Position/status PDMR - Executive Head of Corporate Affairs
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 On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting.
c) Price(s) and volume(s)
Price(s) Volume(s)
R163.19 1,329
R153.67 920
d) Aggregated information
- Aggregated volume 2,249
- Price R358,255.91
e) Date of the transaction 24 - 25 March 2026
f) Place of the transaction On market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Bernard Dalton
2 Reason for the notification
a) Position/status PDMR - Executive Head of Marketing
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 On market sale of vested forfeitable shares to settle tax obligations arising
from the vesting.
c) Price(s) and volume(s)
Price(s) Volume(s)
R163.19 1,578
R153.67 1,196
d) Aggregated information
- Aggregated volume 2,774
- Price R441,303.14
e) Date of the transaction 24 - 25 March 2026
f) Place of the transaction On market
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