REG - Thungela Resources - Dealings in Securities
14/05/2026 09:00
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RNS Number : 3419E Thungela Resources Limited 14 May 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 off‑market grant and
acceptance of conditional share awards by executive directors and prescribed
officers. The award was made in terms of the Company's 2021 Share Plan and as
contemplated in the Remuneration Policy.
Chief Executive Officer: Moses Madondo
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 123,459
Vesting date: 22 April 2029
Award price: R157.17
Award value: R19,404,051.03
Nature of interest: Direct beneficial
Chief Financial Officer: Deon Smith
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 61,174
Vesting date: 22 April 2029
Award price: R157.17
Award value: R9,614,717.58
Nature of interest: Direct beneficial
Chief Operations Officer: Johan van Schalkwyk
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 36,379
Vesting date: 22 April 2029
Award price: R157.17
Award value: R5,717,687.43
Nature of interest: Direct beneficial
Executive Head of Technical: Leslie Martin
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 31,600
Vesting date: 22 April 2029
Award price: R157.17
Award value: R4,966,572.00
Nature of interest: Direct beneficial
Executive Head of Human Resources: Lesego Mataboge
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 25,322
Vesting date: 22 April 2029
Award price: R157.17
Award value: R3,979,858.74
Nature of interest: Direct beneficial
Executive Head of Corporate Affairs: Mpumi Sithole
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 25,043
Vesting date: 22 April 2029
Award price: R157.17
Award value: R3,936,008.31
Nature of interest: Direct beneficial
Executive Head of Marketing: Bernard Dalton
Nature of transaction: Off market grant and acceptance of conditional shares
Date of acceptance: 11 May 2026
Class of securities: Ordinary shares
Number of shares: 29,313
Vesting date: 22 April 2029
Award price: R157.17
Award value: R4,607,124.21
Nature of interest: Direct beneficial
Vesting of the awards is conditional on pre-determined performance and
employment conditions.
The award price represents the dividend-adjusted volume weighted average price
of a Thungela share on the JSE for the 20 business days ended 21 April 2026.
This equates to R157.17 per share.
Clearance for these transactions has been obtained in accordance with
paragraph 6.83 of the JSE Listings Requirements.
Johannesburg
14 May 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 Moses Madondo
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 grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 123,459
d) Aggregated information
- Aggregated volume 123,459
- Price R19,404,051.03
e) Date of the transaction 11 May 2026
f) Place of the transaction Off market
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 Off market grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 61,174
d) Aggregated information
- Aggregated volume 61,174
- Price R9,614,717.58
e) Date of the transaction 11 May 2026
f) Place of the transaction Off 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 Off market grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 36,379
d) Aggregated information
- Aggregated volume 36,379
- Price R5,717,687.43
e) Date of the transaction 11 May 2026
f) Place of the transaction Off 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 Off market grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 31,600
d) Aggregated information
- Aggregated volume 31,600
- Price R4,966,572.00
e) Date of the transaction 11 May 2026
f) Place of the transaction Off 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 Off market grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 25,322
d) Aggregated information
- Aggregated volume 25,322
- Price R3,979,858.74
e) Date of the transaction 11 May 2026
f) Place of the transaction Off 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 Off market grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 25,043
d) Aggregated information
- Aggregated volume 25,043
- Price R3,936,008.31
e) Date of the transaction 11 May 2026
f) Place of the transaction Off 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 Off market grant and acceptance of conditional shares
c) Price(s) and volume(s)
Price(s) Volume(s)
R157.17 29,313
d) Aggregated information
- Aggregated volume 29,313
- Price R4,607,124.21
e) Date of the transaction 11 May 2026
f) Place of the transaction Off market
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