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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