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" or "the Company")
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND PRESCRIBED OFFICERS FOR ACCEPTANCE OF CONDITIONAL SHARE AWARDS
In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited, we hereby provide the following information related to the award and acceptance of conditional shares pertaining to the 2023 financial year concluded in May 2024. The award is made and accepted by the undermentioned Executive Directors and Prescribed Officers of Thungela in terms of the Company's Share Plan and Remuneration Policy:
| Nature of transactions | Acceptance of conditional shares in terms of the Company's 2021 Share Plan and Remuneration Policy |
| Class of securities | Ordinary shares |
| Nature and extent of interest | Direct beneficial |
| Transactions completed on or off market | Off market |
| Date of acceptance | 31 May 2024 |
| Vesting date | 24 May 2027 |
| Name | Designation | Number of Conditional Shares | Value of Award* (R) |
| J Ndlovu | Chief Executive Officer | 71,110 | 8,577,999 |
| GF Smith | Chief Financial Officer | 36,736 | 4,431,464 |
| JPD van Schalkwyk | Chief Operating Officer | 28,645 | 3,455,446 |
| L Martin | Executive Head of Technical | 24,879 | 3,001,154 |
| BM Dalton | Executive Head of Marketing | 21,713 | 2,619,239 |
| LE Mataboge | Executive Head of Human Resources | 18,289 | 2,206,202 |
| N Sithole | Executive Head of Corporate Affairs | 18,289 | 2,206,202 |
| C Venter | Executive Head of Safety, Health & Environment | 18,289 | 2,206,202 |
The vesting of the conditional shares is conditional on pre-determined performance conditions and continued employment by Thungela up until the noted vesting date and where applicable, the reasons for the cessation of such employment.
* The value of the award is based on a dividend-adjusted volume weighted average price of R120.63 for a Thungela share for the 20 days ended 19 April 2024. The highest and lowest prices traded for Thungela shares over each day were as follows:
| Date | Highest price per share | Lowest price per share |
| 18 March 2024 | 116,49 | 106,22 |
| 19 March 2024 | 121,00 | 113,95 |
| 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 |
Clearances and approvals for these transactions, which are all of an off-market nature, were obtained.
Johannesburg
3 June 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 award and acceptance of conditional share 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 71,110 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 71,110 | ||||
| - Price | R8,577,999 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 36,736 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 36,736 | ||||
| - Price | R4,431,464 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 28,645 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 28,645 | ||||
| - Price | R3,455,446 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 24,879 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 24,879 | ||||
| - Price | R3,001,154 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 18,289 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 18,289 | ||||
| - Price | R2,206,202 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 18,289 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 18,289 | ||||
| - Price | R2,206,202 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 18,289 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 18,289 | ||||
| - Price | R2,206,202 | ||||
| e) | Date of the transaction | 31 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 | Off market award and acceptance of conditional share awards | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | R120.63 | 21,713 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| - Aggregated volume | 21,713 | ||||
| - Price | R2,619,239 | ||||
| e) | Date of the transaction | 31 May 2024 | |||
| f) | Place of the transaction | Off market | |||
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