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' and
together with its affiliates, the 'Group')
THUNGELA CONFIRMATION OF TREASURY SHARES HELD AND SHARE
REPURCHASE UPDATE
Confirmation of treasury shares held
The following notification is made in
accordance with the UK Financial Conduct Authority's Disclosure
Guidance and Transparency Rule 5.6.
At 31 May 2024, the Group holds a
total of 7,446,294 shares in treasury. This includes 6,194,139
shares held directly by subsidiaries and 1,252,155 shares held in
separate broker accounts for employees. The shares held in employee
broker accounts relate to share awards in terms of the Thungela
share plan which have not yet vested. These shares are considered
treasury shares for Thungela until the awards have vested, in line
with the rules of the Thungela share plan.
The 6,194,139 treasury shares held
directly by subsidiaries do not carry voting rights.
The total number of ordinary shares in
issue which carry voting rights amounts to 134,298,446.
This information may be used by
shareholders (and others with notification obligations) as the
denominator for the calculations by which they will determine
whether they are required to notify their interest in, or a change
to their interest in the Company.
Share
repurchase update
On 18 March 2024, the Company
announced a share repurchase which commenced on 19 March 2024 and
was completed on 3 June 2024. The share repurchase was effected in
accordance with the general authority received by way of a
shareholder special resolution passed at the Thungela Annual
General Meeting (AGM) held on 31 May 2023. This allowed Thungela
Operations Proprietary Limited, a subsidiary of the Group, to
repurchase up to 10% of the issued share capital of the Company,
subject to certain limitations.
The Company's ordinary shares were
repurchased on the Johannesburg Stock Exchange during the period 19
March 2024 to 3 June 2024, for a total consideration of
R441,615,378, equivalent to 3,307,667 ordinary shares or 2.35% of
issued share capital at an average price of R133.21 per share.
Subject to the resolution put forward to the shareholders as part
of the AGM to be held on 4 June 2024, the Thungela board will
continue to evaluate further share repurchases as part of its
capital allocation review.
Rosebank
3 June 2024
Investor Relations
Hugo Nunes
Email: hugo.nunes@thungela.com
Shreshini Singh
Email: shreshini.singh@thungela.com
Media
Hulisani Rasivhaga
Email: hulisani.rasivhaga@thungela.com
UK
Financial adviser and corporate broker
Liberum Capital Limited
Sponsor
Rand Merchant Bank
(a division of FirstRand Bank
Limited)