Enhanced Investments - Financial Portal

Dealings in securities to settle tax obligations for executive directors, prescribed offers and company secretary

Published: 2024-04-04 13:00:29 ET [no company card]

Thungela Resources Limited
Incorporated in the Republic of South Africa
Registration number: 2021/303811/06
ISIN: ZAE000296554
JSE share code: TGA
LSE share code: TGA
(“Thungela” or “Company”)


DEALINGS IN SECURITIES TO SETTLE TAX OBLIGATIONS FOR EXECUTIVE DIRECTORS,
PRESCRIBED OFFERS AND COMPANY SECRETARY


Shareholders are advised of the following dealings on behalf of Thungela executive directors,
prescribed officers and the Company Secretary pursuant to the vesting of 33% of the forfeitable
awards granted under the 2021 Company Share Plan and Remuneration Policy in March 2022
and March 2023:

 Chief Executive Officer:                      July Ndlovu
 Date of transaction:                          28 March / 2 April 2024
 Nature of transaction:                        On market disposal of vested shares to settle tax
                                               obligations arising from the vesting.
 Class of securities:                          Ordinary shares
 Number of securities:                         4,487
 Sale price per security*:                     R123.99
 Transaction value:                            R556,343.13
 Nature of interest:                           Direct beneficial

 Chief Financial Officer:                      Gideon Frederick Smith
 Date of transaction:                          28 March / 2 April 2024
 Nature of transaction:                        On market disposal of vested shares to settle tax
                                               obligations arising from the vesting.
 Class of securities:                          Ordinary shares
 Number of securities:                         2,413
 Sale price per security*:                     R123.99
 Transaction value:                            R299,187.87
 Nature of interest:                           Direct beneficial

 Chief Operating Officer:                      Johannes Petrus Daniel van Schalkwyk
Date of transaction:                 28 March / 2 April 2024
Nature of transaction:               On market disposal of vested shares to settle tax
                                     obligations arising from the vesting.
Class of securities:                 Ordinary shares
Number of securities:                1,747
Sale price per security*:            R123.99
Transaction value:                   R216,610.53
Nature of interest:                  Direct beneficial


Executive Head of Technical:         Leslie Martin
Date of transaction:                 28 March / 2 April 2024
Nature of transaction:               On market disposal of vested shares to settle tax
                                     obligations arising from the vesting.
Class of securities:                 Ordinary shares
Number of securities:                1,540
Sale price per security*:            R123.99
Transaction value:                   R190,944.60
Nature of interest:                  Direct beneficial


Executive Head of Marketing:         Bernard Michael Dalton
Date of transaction:                 28 March / 2 April 2024
Nature of transaction:               On market disposal of vested shares to settle tax
                                     obligations arising from the vesting.
Class of securities:                 Ordinary shares
Number of securities:                1,214
Sale price per security*:            R123.99
Transaction value:                   R150,523.86
Nature of interest:                  Direct beneficial


Executive Head of Human Resources:   Lesego Elias Mataboge
Date of transaction:                 28 March / 2 April 2024
Nature of transaction:               On market disposal of vested shares to settle tax
                                     obligations arising from the vesting.
Class of securities:                 Ordinary shares
Number of securities:                  1,152
Sale price per security*:              R123.99
Transaction value:                     R142,836.48
Nature of interest:                    Direct beneficial


Executive Head of Corporate Affairs:   Nompumelelo Sithole
Date of transaction:                   28 March / 2 April 2024
Nature of transaction:                 On market disposal of vested shares to settle tax
                                       obligations arising from the vesting.
Class of securities:                   Ordinary shares
Number of securities:                  1,149
Sale price per security*:              R123.99
Transaction value:                     R142,464.51
Nature of interest:                    Direct beneficial


Executive Head of SHE:                 Carina Venter
Date of transaction:                   28 March / 2 April 2024
Nature of transaction:                 On market disposal of vested shares to settle tax
                                       obligations arising from the vesting.
Class of securities:                   Ordinary shares
Number of securities:                  1,096
Sale price per security*:              R123.99
Transaction value:                     R135,893.04
Nature of interest:                    Direct beneficial


Company Secretary:                     Daniel Francois Klem
Date of transaction:                   28 March / 2 April 2024
Nature of transaction:                 On market disposal of vested shares to settle tax
                                       obligations arising from the vesting.
Class of securities:                   Ordinary shares
Number of securities:                  802
Sale price per security*:              R123.99
Transaction value:                     R99,439.98
Nature of interest:                    Direct Beneficial
The remaining 34% of the forfeitable awards related to the March 2022 award will vest in March
2025, subject to the employment conditions being met. The remaining 67% of the forfeitable
awards related to the March 2023 award will vest in two equal tranches in March 2025 and March
2026, subject to the employment conditions being met. The remaining ordinary shares underlying
the unvested forfeitable awards will be held in a non-tradable account by the applicable escrow
agent. The ordinary shares will remain restricted until such time as vesting occurs.

* Sale price per share is based on a 2-day VWAP ended 2 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
 28 March 2024                   124,89                            120,47
 2 April 2024                    128,38                            121,05

Clearance to deal in terms of the JSE Listings Requirements was obtained.


Rosebank
4 April 2024

UK Financial adviser and corporate broker
Liberum Capital 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          Initial notification
        /Amendment
 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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                       Price(s)                  Volume(s)
                                       R123.99                   4,487

d)   Aggregated information
     - Aggregated volume            4,487
     - Price                        R556,343.13
e)   Date of the transaction        28 March / 2 April 2024
f)   Place of the transaction       On 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)   Initial notification            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                        Price(s)                 Volume(s)
                                        R123.99                  2,413

d)   Aggregated information
     - Aggregated volume            2,413
     - Price                        R299,187.87
e)   Date of the transaction       28 March / 2 April 2024
f)   Place of the transaction      On 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 Operating Officer
b)   Initial notification            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                        Price(s)                 Volume(s)
                                        R123.99                  1,747

d)   Aggregated information
     - Aggregated volume           1,747
     - Price                       R216,610.53
e)   Date of the transaction       28 March / 2 April 2024
f)   Place of the transaction      On 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            Initial notification
     /Amendment
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   Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code            ISIN: ZAE000296554
b)   Nature of the transaction      On market disposal of shares that have vested in
                                    respect of the 2022 and 2023 forfeitable awards to
                                    settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                      Price(s)                Volume(s)
                                      R123.99                 1,540

d)   Aggregated information
     - Aggregated volume            1,540
     - Price                        R190,944.60
e)   Date of the transaction        28 March / 2 April 2024
f)   Place of the transaction       On market

1    Details of the person discharging managerial responsibilities / person closely
     associated
a)   Name                            Bernard Michael Dalton
2    Reason for the notification
a)   Position/status                 PDMR – Executive Head of Marketing
b)   Initial notification            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                        Price(s)                 Volume(s)
                                        R123.99                  1,214

d)   Aggregated information
     - Aggregated volume            1,214
     - Price                        R150,523.86
e)   Date of the transaction        28 March / 2 April 2024
f)   Place of the transaction       On 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            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                        Price(s)                 Volume(s)
                                        R123.99                  1,152

d)   Aggregated information
     - Aggregated volume           1,152
     - Price                       R142,836.48
e)   Date of the transaction       28 March / 2 April 2024
f)   Place of the transaction      On 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            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code           ISIN: ZAE000296554
b)   Nature of the transaction     On market disposal of shares that have vested in
                                   respect of the 2022 and 2023 forfeitable awards to
                                   settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                      Price(s)               Volume(s)
                                      R123.99                1,149

d)   Aggregated information

     - Aggregated volume           1,149
     - Price                       R142,464.51
e)   Date of the transaction       28 March / 2 April 2024
f)   Place of the transaction      On 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            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                        Price(s)                 Volume(s)
                                        R123.99                  1,096

d)   Aggregated information
     - Aggregated volume           1,096
     - Price                       R99,439.98
e)   Date of the transaction       28 March / 2 April 2024
f)   Place of the transaction      On market
1    Details of the person discharging managerial responsibilities / person closely
     associated
a)   Name                            Daniel Francois Klem
2    Reason for the notification
a)   Position/status                 Company Secretary
b)   Initial notification            Initial notification
     /Amendment
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    Ordinary shares of no par value
     instrument, type of
     instrument
     Identification code             ISIN: ZAE000296554
b)   Nature of the transaction       On market disposal of shares that have vested in
                                     respect of the 2022 and 2023 forfeitable awards to
                                     settle tax obligations arising from the vesting
c)   Price(s) and volume(s)
                                        Price(s)                 Volume(s)
                                        R123.99                  802

d)   Aggregated information
     - Aggregated volume           802
     - Price                       R97,707.66
e)   Date of the transaction       28 March / 2 April 2024
f)   Place of the transaction      On market

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.