Thungela Resources - DEALINGS IN SECURITIES
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:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2025
8,778
R127.14
R1,116,034.92
LTIP 2026
5,341
R127.14
R679,054.74
Chief Financial Officer:
Deon Smith
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2024
1,882
R127.14
R239,277.48
LTIP 2025
4,112
R127.14
R522,799.68
LTIP 2026
2,646
R127.14
R336,412.44
Chief Operations Officer:
Johan van Schalkwyk
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2024
1,467
R127.14
R186,514.38
LTIP 2025
2,587
R127.14
R328,911.18
LTIP 2026
1,574
R127.14
R200,118.36
Executive Head of Technical:
Leslie Martin
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2024
1,274
R127.14
R161,976.36
LTIP 2025
2,247
R127.14
R285,683.58
LTIP 2026
1,367
R127.14
R173,800.38
Executive Head of Human Resources:
Lesego Mataboge
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2024
937
R127.14
R119,130.18
LTIP 2025
1,708
R127.14
R217,155.12
LTIP 2026
1,095
R127.14
R139,218.30
Executive Head of Corporate Affairs:
Mpumi Sithole
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2024
937
R127.14
R119,130.18
LTIP 2025
1,707
R127.14
R217,027.98
LTIP 2026
1,083
R127.14
R137,692.62
Executive Head of Marketing:
Bernard Dalton
Nature of transaction:
Off market award of dividend equivalent shares
Date of award:
30 September 2026
Class of securities:
Ordinary shares
Nature of interest:
Direct beneficial
Award
Number of shares
Award Price
Award Value
LTIP 2024
1,112
R127.14
R141,379.68
LTIP 2025
2,084
R127.14
R264,959.76
LTIP 2026
1,268
R127.14
R161,213.52
Vesting of the awards is conditional on pre-determined performance and employment conditions as per the original conditional shares. The LTIP 2024 is vesting on 24 May 2027, the LTIP 2025 on 15 April 2028 and the LTIP 2026 on 22 April 2029.
The award price represents the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 18 September 2026. This equates to R127.14 per share.
Clearance for these transactions has been obtained in accordance with paragraph 6.83 of the JSE Listings Requirements.
Johannesburg
1 October 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)
R127.14
8,778
R127.14
5,341
d)
Aggregated information
- Aggregated volume
14,119
- Price
R1,795,089.66
e)
Date of the transaction
30 September 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)
R127.14
1,882
R127.14
4,112
R127.14
2,646
d)
Aggregated information
- Aggregated volume
8,640
- Price
R1,098,489.60
e)
Date of the transaction
30 September 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)
R127.14
1,467
R127.14
2,587
R127.14
1,574
d)
Aggregated information
- Aggregated volume
5,628
- Price
R715,543.92
e)
Date of the transaction
30 September 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)
R127.14
1,274
R127.14
2,247
R127.14
1,367
d)
Aggregated information
- Aggregated volume
4,888
- Price
R621,460.32
e)
Date of the transaction
30 September 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)
R127.14
937
R127.14
1,708
R127.14
1,095
d)
Aggregated information
- Aggregated volume
3,740
- Price
R475,503.60
e)
Date of the transaction
30 September 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)
R127.14
937
R127.14
1,707
R127.14
1,083
d)
Aggregated information
- Aggregated volume
3,727
- Price
R473,850.78
e)
Date of the transaction
30 September 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)
R127.14
1,112
R127.14
2,084
R127.14
1,268
d)
Aggregated information
- Aggregated volume
4,464
- Price
R567,552.96
e)
Date of the transaction
30 September 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.ENDDSHURASRNAUKOAR
