Dealings in Securities
CEO designate Moses Madondo granted 175,190 forfeitable shares vesting over three years.
- Forfeitable shares granted 175,190
- Award price per share R95.50
- Transaction value R16,730,645
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JSE share code: TGA
LSE share code: TGA
Tax number: 9111917259
("Thungela" or the "Company" and, together with its affiliates, the "Group")
DEALINGS IN SECURITIES BY THE CHIEF EXECUTIVE OFFICER DESIGNATE
On 21 January 2025, Thungela announced the appointment of Moses Madondo as the Chief Executive Officer (CEO) designate with effect from 1 August 2025.
In accordance with paragraph 3.63 to 3.74 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are advised of the following transaction related to the CEO designate of Thungela in terms of the provisions of the Company's 2021 Share Plan and Remuneration Policy, regarding the allocation of forfeitable shares.
| CEO designate: | Moses Thembinkosi Madondo |
| Grant date: | 1 August 2025 |
| Date of transaction: | 18 August 2025 |
| Nature of transaction: | Off market grant and acceptance of forfeitable shares in terms of the Company's 2021 Share Plan |
| Class of securities: | Ordinary shares |
| Number of securities: | 175,190 (One third of the shares will vest each year over three years provided that the CEO designate remains in the employ of the Company) |
| Award price per share*: | R95.50 |
| Transaction value: | R16,730,645 |
| Nature of interest: | Direct beneficial |
* Award price per share represents the volume weighted average price of a Thungela Resources share on the JSE for the 20 days ended 31 July 2025. The highest and lowest prices traded for Thungela Resources shares over each day were as follows:
| Date | Highest price per share | Lowest price per share |
| 4 July 2025 | R89.96 | R87.77 |
| 7 July 2025 | R88.94 | R83.61 |
| 8 July 2025 | R88.12 | R86.07 |
| 9 July 2025 | R88.06 | R85.51 |
| 10 July 2025 | R96.35 | R87.76 |
| 11 July 2025 | R97.67 | R94.64 |
| 14 July 2025 | R98.32 | R95.17 |
| 15 July 2025 | R96.91 | R92.50 |
| 16 July 2025 | R97.35 | R94.51 |
| 17 July 2025 | R97.94 | R94.14 |
| 18 July 2025 | R98.16 | R95.87 |
| 21 July 2025 | R101.75 | R97.51 |
| 22 July 2025 | R103.65 | R100.08 |
| 23 July 2025 | R104.95 | R99.92 |
| 24 July 2025 | R102.02 | R97.33 |
| 25 July 2025 | R98.16 | R93.00 |
| 28 July 2025 | R98.00 | R93.00 |
| 29 July 2025 | R94.92 | R93.37 |
| 30 July 2025 | R96.12 | R93.31 |
| 31 July 2025 | R94.35 | R92.25 |
Clearance to deal in terms of the JSE Listings Requirements was obtained.
Johannesburg
UK Financial adviser and corporate broker
Panmure Liberum 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 | Moses Thembinkosi Madondo |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer designate |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Thungela Resources Limited |
| b) | LEI | 213800EGYK3BN3SRIF27 |
| 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 grant and acceptance of forfeitable shares in terms of the Company's 2021 Share Plan |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R95.50 | 175,190 | |
| d) | Aggregated information | |
| - Aggregated volume | 175,190 | |
| - Price | R16,730,645 | |
| e) | Date of the transaction | 18 August 2025 |
| f) | Place of the transaction | Off market |
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