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
("Thungela Resources" or "the Company")
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND PRESCRIBED OFFICERS FOR ALLOCATION OF DIVIDEND EQUIVALENT SHARES
In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited, shareholders are advised of the following transactions relating to the reinvestment of dividends ("Dividend Equivalent Shares") on previously allocated conditional share awards to executive directors and prescribed officers in terms of clause 16.2.1 of the Company's Share Plan. The Dividend Equivalent Shares are subject to the same vesting and performance conditions applicable to the conditional shares, as disclosed in the announcement released on the JSE Stock Exchange News Service and LSE Regulatory News Services on 1 December 2021, 29 March 2022 and 9 May 2023.
| Name | Designation | Award | Number of Dividend Equivalent Shares | Value of award (R) * | Nature of interest |
| J Ndlovu | Chief Executive Officer | LTIP 2021 | 28,120 | 3,474,226 | Direct beneficial |
| LTIP 2022 | 7,880 | 973,574 | |||
| LTIP 2023 | 4,280 | 528,794 | |||
| GF Smith | Chief Financial Officer | LTIP 2021 | 11,789 | 1,456,531 | Direct beneficial |
| LTIP 2022 | 4,071 | 502,972 | |||
| LTIP 2023 | 2,211 | 273,169 | |||
| JPD van Schalkwyk | Chief Operating Officer | LTIP 2021 | 9,415 | 1,163,223 | Direct beneficial |
| LTIP 2022 | 3,175 | 392,271 | |||
| LTIP 2023 | 1,724 | 213,000 | |||
| L Martin | Executive Head of Technical | LTIP 2021 | 8,807 | 1,088,105 | Direct beneficial |
| LTIP 2022 | 2,757 | 340,627 | |||
| LTIP 2023 | 1,498 | 185,078 | |||
| BM Dalton | Executive Head of Marketing | LTIP 2021 | 8,377 | 1,034,978 | Direct beneficial |
| LTIP 2022 | 2,348 | 290,095 | |||
| LTIP 2023 | 1,275 | 157,526 | |||
| LE Mataboge | Executive Head of Human Resources | LTIP 2021 | 6,609 | 816,542 | Direct beneficial |
| LTIP 2022 | 1,958 | 241,911 | |||
| LTIP 2023 | 1,064 | 131,457 |
| Name | Designation | Award | Number of Dividend Equivalent Shares | Value of award (R) * | Nature of interest |
| N Sithole | Executive Head of Corporate Affairs | LTIP 2021 | 6,527 | 806,411 | Direct beneficial |
| LTIP 2022 | 1,958 | 241,911 | |||
| LTIP 2023 | 1,064 | 131,457 | |||
| C Venter | Executive Head of Safety, Health & Environment | LTIP 2021 | 6,281 | 776,018 | Direct beneficial |
| LTIP 2022 | 1,958 | 241,911 | |||
| LTIP 2023 | 1,064 | 131,457 |
* The award price per share of R123.55 represents the dividend-adjusted volume weighted average price of a Thungela Resources share for the 20 trading days ended 19 April 2024. The highest and lowest prices of Thungela Resources shares traded over each day were as follows:
| Date | Highest price per share | Lowest price per share |
| 20 March 2024 | 127,31 | 120,29 |
| 22 March 2024 | 125,05 | 119,25 |
| 25 March 2024 | 121,83 | 119,00 |
| 26 March 2024 | 124,91 | 118,00 |
| 27 March 2024 | 124,32 | 119,31 |
| 28 March 2024 | 124,89 | 120,47 |
| 2 April 2024 | 128,38 | 121,05 |
| 3 April 2024 | 130,86 | 126,50 |
| 4 April 2024 | 134,00 | 130,00 |
| 5 April 2024 | 133,34 | 127,04 |
| 8 April 2024 | 132,86 | 129,02 |
| 9 April 2024 | 136,53 | 130,55 |
| 10 April 2024 | 143,61 | 134,00 |
| 11 April 2024 | 145,00 | 137,17 |
| 12 April 2024 | 149,61 | 144,53 |
| 15 April 2024 | 149,67 | 145,69 |
| 16 April 2024 | 148,94 | 141,82 |
| 17 April 2024 | 139,00 | 134,40 |
| 18 April 2024 | 137,69 | 130,48 |
| 19 April 2024 | 138,69 | 132,19 |
Clearance was obtained for these transactions, which were all effected off-market.
Johannesburg
10 May 2024
UK Financial adviser and corporate broker
Liberum Capital Limited
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
In compliance with the UK Listings Requirements, we hereby provide the following information regarding the allocation of dividend-equivalent shares on previously granted conditional long term incentive awards.
| 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 28,120 | | |
| | | R123.55 | 7,880 | | |
| | | R123.55 | 4,280 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 40,280 | ||||
| - Price | R4,976,594 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| f) | Place of the transaction | Off market | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Gideon Frederick Smith | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | PDMR - Chief Financial Officer | |||
| b) | Name | Gideon Frederick Smith | |||
| 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 11,789 | | |
| | | R123.55 | 4,071 | | |
| | | R123.55 | 2,211 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 18,071 | ||||
| - Price | R2,232,672 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| f) | Place of the transaction | Off market | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Johannes Petrus Daniel 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 9,415 | | |
| | | R123.55 | 3,175 | | |
| | | R123.55 | 1,724 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 14,314 | ||||
| - Price | R1,768,495 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 8,807 | | |
| | | R123.55 | 2,757 | | |
| | | R123.55 | 1,498 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 13,062 | ||||
| - Price | R1,613,810 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| f) | Place of the transaction | Off market | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Lesego Elias 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 6,609 | | |
| | | R123.55 | 1,958 | | |
| | | R123.55 | 1,064 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 9,631 | ||||
| - Price | R1,189,910 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 6,527 | | |
| | | R123.55 | 1,958 | | |
| | | R123.55 | 1,064 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 9,549 | ||||
| - Price | R1,179,779 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| f) | Place of the transaction | Off market | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a) | Name | Carina Venter | |||
| 2 | Reason for the notification | ||||
| a) | Position/status | PDMR - Executive Head of Safety, Health & Environment | |||
| 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 6,281 | | |
| | | R123.55 | 1,958 | | |
| | | R123.55 | 1,064 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 9,303 | ||||
| - Price | R1,149,386 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| 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 | Reinvestment of dividends accruing to ordinary shares previously awarded under conditional long term incentive plan | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R123.55 | 8,377 | | |
| | | R123.55 | 2,348 | | |
| | | R123.55 | 1,275 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 12,000 | ||||
| - Price | R1,482,600 | ||||
| e) | Date of the transaction | 9 May 2024 | |||
| f) | Place of the transaction | Off market | |||
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