RNS Number : 1831C
Thungela Resources Limited
06 October 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")
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND PRESCRIBED OFFICERS
In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are provided with the following information related to executive directors and prescribed officers of Thungela in terms of provisions of the Company's 2021 Share Plan regarding the reinvestment of dividends ("Dividend Equivalent Shares") on previously allocated conditional share awards in relation to ordinary shares. The reinvestment of the dividends occurred on 2 October 2025.
The vesting of the Dividend Equivalent Shares is conditional on the same performance and employment conditions applicable to the conditional shares to which they relate, as disclosed in the announcements released on the JSE Stock Exchange News Service and LSE Regulatory News Services on 9 May 2023, 3 June 2024, 15 May 2025, and 22 September 2025.
Name
Designation
Award
Number of Dividend Equivalent Shares
Value ofaward*
Nature of interest
J Ndlovu
Chief Executive Officer
LTIP 2023
1,461
R130,774.11
Direct beneficial
LTIP 2024
1,818
R162,729.18
LTIP 2025
4,271
R382,297.21
G Smith
Chief Financial Officer
LTIP 2023
755
R67,580.05
Direct beneficial
LTIP 2024
939
R84,049.89
LTIP 2025
2,052
R183,674.52
J van Schalkwyk
Chief Operations Officer
LTIP 2023
588
R52,631.88
Direct beneficial
LTIP 2024
732
R65,521.32
LTIP 2025
1,291
R115,557.41
L Martin
Executive Head of Technical
LTIP 2023
511
R45,739.61
Direct beneficial
LTIP 2024
636
R56,928.36
LTIP 2025
1,121
R100,340.71
L Mataboge
Executive Head of Human Resources
LTIP 2023
363
R32,492.13
Direct beneficial
LTIP 2024
467
R41,801.17
LTIP 2025
852
R76,262.52
N Sithole
Executive Head of Corporate Affairs
LTIP 2023
363
R32,492.13
Direct beneficial
LTIP 2024
467
R41,801.17
LTIP 2025
852
R76,262.52
B Dalton
Executive Head of Marketing
LTIP 2023
435
R38,936.85
Direct beneficial
LTIP 2024
555
R49,678.05
LTIP 2025
1,040
R93,090.40
M Madondo
Chief Executive Officer designate
LTIP 2025
4,381
R392,143.31
Direct beneficial
* Value of the award is based on an award price per share representing the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 19 September 2025. This equates to R89.51 per share.
Clearance to deal, in terms of the JSE Listings Requirements, for these transactions have been obtained.
Johannesburg
6 October 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
July Ndlovu
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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
1,461
R89.51
1,818
R89.51
4,271
d)
Aggregated information
- Aggregated volume
7,550
- Price
R675,800.50
e)
Date of the transaction
2 October 2025
f)
Place of the transaction
Off market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Gideon 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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
755
R89.51
939
R89.51
2,052
d)
Aggregated information
- Aggregated volume
3,746
- Price
R335,304.46
e)
Date of the transaction
2 October 2025
f)
Place of the transaction
Off market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Johannes 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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
588
R89.51
732
R89.51
1,291
d)
Aggregated information
- Aggregated volume
2,611
- Price
R233,710.61
e)
Date of the transaction
2 October 2025
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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
511
R89.51
636
R89.51
1,121
d)
Aggregated information
- Aggregated volume
2,268
- Price
R203,008.68
e)
Date of the transaction
2 October 2025
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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
363
R89.51
467
R89.51
852
d)
Aggregated information
- Aggregated volume
1,682
- Price
R150,555.82
e)
Date of the transaction
2 October 2025
f)
Place of the transaction
Off market
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Nompumelelo 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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
363
R89.51
467
R89.51
852
d)
Aggregated information
- Aggregated volume
1,682
- Price
R150,555.82
e)
Date of the transaction
2 October 2025
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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
435
R89.51
555
R89.51
1,040
d)
Aggregated information
- Aggregated volume
2,030
- Price
R181,705.30
e)
Date of the transaction
2 October 2025
f)
Place of the transaction
Off market
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 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 award and acceptance of conditional sharesin terms of the Company's 2021 Share Plan
c)
Price(s) and volume(s)
Price(s)
Volume(s)
R89.51
4,381
d)
Aggregated information
- Aggregated volume
4,381
- Price
R392,143.31
e)
Date of the transaction
2 October 2025
f)
Place of the transaction
Off market
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