REG - Thungela Resources - Director/PDMR Shareholding

Thungela ResourcesAnnouncement

22/09/2025 12:15

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RNS Number : 2617A  Thungela Resources Limited  22 September 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" and, together with its affiliates, the "Group")

 

ACCEPTANCE OF CONDITIONAL SHARE AWARDS BY CHIEF EXECUTIVE OFFICER DESIGNATE

 

In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the
JSE Limited ("the JSE Listings Requirements"), shareholders are provided with
the following information related to the Chief Executive Officer (CEO)
designate of Thungela in terms of the provisions of the Company's 2021 Share
Plan and Remuneration Policy, regarding the award and acceptance of
conditional shares.

 

 CEO designate:                 Moses Thembinkosi Madondo
 Nature of transaction:         Off market award and acceptance of conditional shares
 Date of acceptance:            16 September 2025
 Class of securities:           Ordinary shares
 Number of conditional shares:  196,054
 Vesting date:                  15 April 2028
 Award price per share*:        R94.26
 Award value:                   R18,480,050.04
 Nature of interest:            Direct beneficial

 

Vesting of the awards is conditional on pre-determined performance and
employment conditions.

 

* Award price per share represents the dividend-adjusted volume weighted
average price of a Thungela share on the JSE for the 20 business days ended 14
April 2025. This equates to R94.26 per share.

 

Clearance to deal in terms of the JSE Listings Requirements was obtained.

 

Johannesburg

22 September 2025

 

Sponsor

Rand Merchant Bank (A division of FirstRand Bank Limited)

 

UK Financial adviser and corporate broker

Panmure Liberum Limited

 

 

Notification of Dealing Forms

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Moses Thembinkosi Madondo
 2    Reason for the notification
 a)   Position/status                                              PDMR - CEO designate
 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 award and acceptance of conditional shares in terms of the
                                                                   Company's 2021 Share Plan
 c)   Price(s) and volume(s)

                                                                                       Price(s)            Volume(s)
                                                                                       R94.26              196,054

 d)   Aggregated information

      - Aggregated volume                                          196,054
      - Price                                                      R18,480,050.04
 e)   Date of the transaction                                      16 September 2025
 f)   Place of the transaction                                     Off market

 

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