RNS Number : 0599W
Thungela Resources Limited
20 August 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")
DEALINGS IN SECURITIES BY THE CHIEF EXECUTIVE OFFICER DESIGNATE
On 21 January 2025, Thungela announced the appointment of Moses Madondo as the Chief Executive Officer (CEO) designate with effect from 1 August 2025.
In accordance with paragraph 3.63 to 3.74 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the following transaction related to the CEO designate of Thungela in terms of the provisions of the Company's 2021 Share Plan and Remuneration Policy, regarding the allocation of forfeitable shares.
CEO designate:
Moses Thembinkosi Madondo
Grant date:
1 August 2025
Date of transaction:
18 August 2025
Nature of transaction:
Off market grant and acceptance of forfeitable shares in terms of the Company's 2021 Share Plan
Class of securities:
Ordinary shares
Number of securities:
175,190 (One third of the shares will vest each year over three years provided that the CEO designate remains in the employ of the Company)
Award price per share*:
R95.50
Transaction value:
R16,730,645
Nature of interest:
Direct beneficial
* Award price per share represents the volume weighted average price of a Thungela Resources share on the JSE for the 20 days ended 31 July 2025. The highest and lowest prices traded for Thungela Resources shares over each day were as follows:
Date
Highest price per share
Lowest price per share
4 July 2025
R89.96
R87.77
7 July 2025
R88.94
R83.61
8 July 2025
R88.12
R86.07
9 July 2025
R88.06
R85.51
10 July 2025
R96.35
R87.76
11 July 2025
R97.67
R94.64
14 July 2025
R98.32
R95.17
15 July 2025
R96.91
R92.50
16 July 2025
R97.35
R94.51
17 July 2025
R97.94
R94.14
18 July 2025
R98.16
R95.87
21 July 2025
R101.75
R97.51
22 July 2025
R103.65
R100.08
23 July 2025
R104.95
R99.92
24 July 2025
R102.02
R97.33
25 July 2025
R98.16
R93.00
28 July 2025
R98.00
R93.00
29 July 2025
R94.92
R93.37
30 July 2025
R96.12
R93.31
31 July 2025
R94.35
R92.25
Clearance to deal in terms of the JSE Listings Requirements was obtained.
Johannesburg
20 August 2025
UK Financial adviser and corporate broker
Panmure Liberum Limited
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 Thembinkosi Madondo
2
Reason for the notification
a)
Position/status
Chief Executive Officer 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 grant and acceptance of forfeitable shares in terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R95.50
175,190
d)
Aggregated information
- Aggregated volume
175,190
- Price
R16,730,645
e)
Date of the transaction
18 August 2025
f)
Place of the transaction
Off market
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