Sign In
Last checked at 
27 Mar 2026 14:00
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 6.77 to 6.89 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the following transactions. The transactions relate to the vesting of forfeitable share awards and the subsequent on market sale of shares by executive directors and prescribed officers to settle tax obligations arising from such vesting. The vesting occurred in terms of the Company's 2021 Share Plan and as contemplated in the Remuneration Policy.
Chief Financial Officer | Deon Smith | |||||
Nature of transaction: | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting | |||||
Class of securities: | Ordinary shares | |||||
Number of shares: | 4,743 | |||||
Transaction value: | R754,265.69 | |||||
Trading period: | 24 - 25 March 2026 | |||||
Nature of interest: | Direct beneficial | |||||
Date: | Number of Shares: | VWAP: | Highest Price: | Lowest Price: | Transaction Value: | |
24 March 2026 | 2,669 | R163.19 | R168.24 | R152.02 | R435,554.11 | |
25 March 2026 | 2,074 | R153.67 | R162.12 | R150.11 | R318,711.58 | |
Chief Operations Officer | Johan van Schalkwyk | |||||
Nature of transaction: | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting | |||||
Class of securities: | Ordinary shares | |||||
Number of shares: | 3,698 | |||||
Transaction value: | R588,082.78 | |||||
Trading period: | 24 - 25 March 2026 | |||||
Nature of interest: | Direct beneficial | |||||
Date: | Number of Shares: | VWAP: | Highest Price: | Lowest Price: | Transaction Value: | |
24 March 2026 | 2,081 | R163.19 | R168.24 | R152.02 | R339,598.39 | |
25 March 2026 | 1,617 | R153.67 | R162.12 | R150.11 | R248,484.39 | |
Executive Head of Technical | Leslie Martin | |||||
Nature of transaction: | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting | |||||
Class of securities: | Ordinary shares | |||||
Number of shares: | 3,212 | |||||
Transaction value: | R510,800.20 | |||||
Trading period: | 24 - 25 March 2026 | |||||
Nature of interest: | Direct beneficial | |||||
Date: | Number of Shares: | VWAP: | Highest Price: | Lowest Price: | Transaction Value: | |
24 March 2026 | 1,808 | R163.19 | R168.24 | R152.02 | R295,047.52 | |
25 March 2026 | 1,404 | R153.67 | R162.12 | R150.11 | R215,752.68 | |
Executive Head of Human Resources | Lesego Mataboge | |||||
Nature of transaction: | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting | |||||
Class of securities: | Ordinary shares | |||||
Number of shares: | 2,249 | |||||
Transaction value: | R358,255.91 | |||||
Trading period: | 24 - 25 March 2026 | |||||
Nature of interest: | Direct beneficial | |||||
Date: | Number of Shares: | VWAP: | Highest Price: | Lowest Price: | Transaction Value: | |
24 March 2026 | 1,329 | R163.19 | R168.24 | R152.02 | R216,879.51 | |
25 March 2026 | 920 | R153.67 | R162.12 | R150.11 | R141,376.4 | |
Executive Head of Corporate Affairs | Mpumi Sithole | |||||
Nature of transaction: | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting | |||||
Class of securities: | Ordinary shares | |||||
Number of shares: | 2,249 | |||||
Transaction value: | R358,255.91 | |||||
Trading period: | 24 - 25 March 2026 | |||||
Nature of interest: | Direct beneficial | |||||
Date: | Number of Shares: | VWAP: | Highest Price: | Lowest Price: | Transaction Value: | |
24 March 2026 | 1,329 | R163.19 | R168.24 | R152.02 | R216,879.51 | |
25 March 2026 | 920 | R153.67 | R162.12 | R150.11 | R141,376.4 | |
Executive Head of Marketing | Bernard Dalton | |||||
Nature of transaction: | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting | |||||
Class of securities: | Ordinary shares | |||||
Number of shares: | 2,774 | |||||
Transaction value: | R441,303.14 | |||||
Trading period: | 24 - 25 March 2026 | |||||
Nature of interest: | Direct beneficial | |||||
Date: | Number of Shares: | VWAP: | Highest Price: | Lowest Price: | Transaction Value: | |
24 March 2026 | 1,578 | R163.19 | R168.24 | R152.02 | R257,513.82 | |
25 March 2026 | 1,196 | R153.67 | R162.12 | R150.11 | R183,789.32 | |
The remaining ordinary shares underlying the unvested forfeitable share awards will be held in escrow until they vest subject to the employment conditions being met.
Clearance for these transactions has been obtained in accordance with paragraph 6.83 of the JSE Listings Requirements.
Johannesburg
27 March 2026
UK Financial adviser and corporate broker
Panmure Liberum Limited
JSE 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 | Deon 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 | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
R163.19 | 2,669 | ||||
R153.67 | 2,074 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 4,743 | ||||
- Price | R754,265.69 | ||||
e) | Date of the transaction | 24 - 25 March 2026 | |||
f) | Place of the transaction | On market | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Johan 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 | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
R163.19 | 2,081 | ||||
R153.67 | 1,617 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 3,698 | ||||
- Price | R588,082.78 | ||||
e) | Date of the transaction | 24 - 25 March 2026 | |||
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 /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 | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
R163.19 | 1,808 | ||||
R153.67 | 1,404 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 3,212 | ||||
- Price | R510,800.20 | ||||
e) | Date of the transaction | 24 - 25 March 2026 | |||
f) | Place of the transaction | On 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 | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
R163.19 | 1,329 | ||||
R153.67 | 920 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 2,249 | ||||
- Price | R358,255.91 | ||||
e) | Date of the transaction | 24 - 25 March 2026 | |||
f) | Place of the transaction | On market | |||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Mpumi 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 | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
R163.19 | 1,329 | ||||
R153.67 | 920 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 2,249 | ||||
- Price | R358,255.91 | ||||
e) | Date of the transaction | 24 - 25 March 2026 | |||
f) | Place of the transaction | On 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 | On market sale of vested forfeitable shares to settle tax obligations arising from the vesting. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
R163.19 | 1,578 | ||||
R153.67 | 1,196 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 2,774 | ||||
- Price | R441,303.14 | ||||
e) | Date of the transaction | 24 - 25 March 2026 | |||
f) | Place of the transaction | On market | |||
Follow the stocks
