REG - Thungela Resources - Voluntary Announcement

Thungela ResourcesAnnouncement

28/02/2025 08:00

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RNS Number : 8680Y  Thungela Resources Limited  28 February 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

('Thungela' or the 'Company' and, together with its affiliates, the 'Group')

 

VOLUNTARY ANNOUNCEMENT: FULFILMENT OF ALL THE CONDITIONS PRECEDENT RELATING TO
THE ACQUISITION OF THE REMAINING 15% INTEREST IN THE ENSHAM BUSINESS

 

Shareholders are referred to the announcement published on the Stock Exchange
News Service of the JSE Limited and the Regulatory News Service of the London
Stock Exchange on Monday, 23 December 2024 which set out details of, subject
to the receipt of regulatory approvals and to the fulfilment or waiver (where
capable of waiver) of the conditions precedent, a share sale and purchase
agreement with Bowen Investment (Australia) Proprietary Limited ("Bowen") in
terms of which, inter alia, Thungela, through its wholly-owned subsidiary
Thungela Resources Australia Proprietary Limited ("Thungela Australia"), will
acquire Bowen's 15% interest in the Ensham Joint Venture, Ensham Coal Sales
Proprietary Limited, the Nogoa Pastoral Joint Venture and Nogoa Pastoral
Proprietary Limited (collectively, the "Ensham Business") for a total purchase
consideration of AUD48 million ("the Transaction").

 

Thungela is pleased to advise that all the conditions precedent to the
Transaction have been fulfilled, including Thungela Australia obtaining
approvals from the Foreign Investment Review Board and the relevant Minister
under the Mineral and Energy Resources Act. The effective date of the
Transaction is 28 February 2025.

 

The Transaction is not a categorisable transaction for purposes of Section 9
of the JSE Limited Listings Requirements and, as such, this announcement is
published voluntarily, for information purposes.

 

 

Johannesburg

28 February 2025

 

 

 

Disclaimer

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement via the regulatory
information service, this inside information is now considered to be in the
public domain.

 

 

Investor Relations

Hugo Nunes

Email: hugo.nunes@thungela.com

 

Shreshini Singh

Email: shreshini.singh@thungela.com

 

Media

Hulisani Rasivhaga

Email: hulisani.rasivhaga@thungela.com

 

South African Attorneys

Webber Wentzel

 

Australian Legal Advisers

Allens

 

UK Financial Adviser and Corporate Broker

Panmure Liberum Limited

 

Sponsor

Rand Merchant Bank

(A division of FirstRand Bank Limited)

 

 

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