RNS Number : 3419E
Thungela Resources Limited
14 May 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 grant and acceptance of conditional share awards 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 grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
123,459
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R19,404,051.03
Nature of interest:
Direct beneficial
Chief Financial Officer:
Deon Smith
Nature of transaction:
Off market grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
61,174
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R9,614,717.58
Nature of interest:
Direct beneficial
Chief Operations Officer:
Johan van Schalkwyk
Nature of transaction:
Off market grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
36,379
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R5,717,687.43
Nature of interest:
Direct beneficial
Executive Head of Technical:
Leslie Martin
Nature of transaction:
Off market grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
31,600
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R4,966,572.00
Nature of interest:
Direct beneficial
Executive Head of Human Resources:
Lesego Mataboge
Nature of transaction:
Off market grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
25,322
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R3,979,858.74
Nature of interest:
Direct beneficial
Executive Head of Corporate Affairs:
Mpumi Sithole
Nature of transaction:
Off market grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
25,043
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R3,936,008.31
Nature of interest:
Direct beneficial
Executive Head of Marketing:
Bernard Dalton
Nature of transaction:
Off market grant and acceptance of conditional shares
Date of acceptance:
11 May 2026
Class of securities:
Ordinary shares
Number of shares:
29,313
Vesting date:
22 April 2029
Award price:
R157.17
Award value:
R4,607,124.21
Nature of interest:
Direct beneficial
Vesting of the awards is conditional on pre-determined performance and employment conditions.
The award price represents the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 21 April 2026. This equates to R157.17 per share.
Clearance for these transactions has been obtained in accordance with paragraph 6.83 of the JSE Listings Requirements.
Johannesburg
14 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
123,459
d)
Aggregated information
- Aggregated volume
123,459
- Price
R19,404,051.03
e)
Date of the transaction
11 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
61,174
d)
Aggregated information
- Aggregated volume
61,174
- Price
R9,614,717.58
e)
Date of the transaction
11 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
36,379
d)
Aggregated information
- Aggregated volume
36,379
- Price
R5,717,687.43
e)
Date of the transaction
11 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
31,600
d)
Aggregated information
- Aggregated volume
31,600
- Price
R4,966,572.00
e)
Date of the transaction
11 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
25,322
d)
Aggregated information
- Aggregated volume
25,322
- Price
R3,979,858.74
e)
Date of the transaction
11 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
25,043
d)
Aggregated information
- Aggregated volume
25,043
- Price
R3,936,008.31
e)
Date of the transaction
11 May 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 grant and acceptance of conditional shares
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R157.17
29,313
d)
Aggregated information
- Aggregated volume
29,313
- Price
R4,607,124.21
e)
Date of the transaction
11 May 2026
f)
Place of the transaction
Off market
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
DSHAIMRTMTIBMFF
