RNS Number : 2541C
Thungela Resources Limited
29 April 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 award of dividend equivalent shares following the reinvestment of dividends on previously awarded conditional share awards held 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 award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2025
2,484
R161.35
R400,793.40
Chief Financial Officer:
Deon Smith
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2023
428
R161.35
R69,057.80
LTIP 2024
533
R161.35
R85,999.55
LTIP 2025
1,164
R161.35
R187,811.40
Chief Operations Officer:
Johan van Schalkwyk
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2023
334
R161.35
R53,890.90
LTIP 2024
415
R161.35
R66,960.25
LTIP 2025
732
R161.35
R118,108.20
Executive Head of Technical:
Leslie Martin
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2023
290
R161.35
R46,791.50
LTIP 2024
361
R161.35
R58,247.35
LTIP 2025
636
R161.35
R102,618.60
Executive Head of Human Resources:
Lesego Mataboge
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2023
206
R161.35
R33,238.10
LTIP 2024
265
R161.35
R42,757.75
LTIP 2025
483
R161.35
R77,932.05
Executive Head of Corporate Affairs:
Mpumi Sithole
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2023
206
R161.35
R33,238.10
LTIP 2024
265
R161.35
R42,757.75
LTIP 2025
483
R161.35
R77,932.05
Executive Head of Marketing:
Bernard Dalton
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
23 April 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2023
247
R161.35
R39,853.45
LTIP 2024
315
R161.35
R50,825.25
LTIP 2025
590
R161.35
R95,196.50
Vesting of the awards is conditional on pre-determined performance and employment conditions as per the original conditional shares. The LTIP 2023 is vesting on 26 April 2026, the LTIP 2024 on 24 May 2027 and the LTIP 2025 on 15 April 2028.
Award price represents the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 17 April 2026. This equates to R161.35 per share.
Clearance for these transactions has been obtained in accordance with paragraph 6.83 of the JSE Listings Requirements.
Johannesburg
29 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
2,484
d)
Aggregated information
- Aggregated volume
2,484
- Price
R400,793.40
e)
Date of the transaction
23 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
428
R161.35
533
R161.35
1,164
d)
Aggregated information
- Aggregated volume
2,125
- Price
R342,868.75
e)
Date of the transaction
23 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
334
R161.35
415
R161.35
732
d)
Aggregated information
- Aggregated volume
1,481
- Price
R238,959.35
e)
Date of the transaction
23 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
290
R161.35
361
R161.35
636
d)
Aggregated information
- Aggregated volume
1,287
- Price
R207,657.45
e)
Date of the transaction
23 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
206
R161.35
265
R161.35
483
d)
Aggregated information
- Aggregated volume
954
- Price
R153,927.90
e)
Date of the transaction
23 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
206
R161.35
265
R161.35
483
d)
Aggregated information
- Aggregated volume
954
- Price
R153,927.90
e)
Date of the transaction
23 April 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 reinvestment of dividends accruing to ordinary shares previously awarded as conditional share awards
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R161.35
247
R161.35
315
R161.35
590
d)
Aggregated information
- Aggregated volume
1,152
- Price
R185,875.20
e)
Date of the transaction
23 April 2026
f)
Place of the transaction
Off market
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