Director/PDMR Shareholding
Thungela Resources Limited announced the acceptance of conditional share awards by its Chief Executive Officer designate. On September 16, 2025, Moses Thembinkosi Madondo accepted 196,054 ordinary shares. The award price per share is R94.26, representing the dividend-adjusted volume weighted average price on the JSE for the 20 business days ended April 14, 2025. The total award value amounts to R18,480,050.04. Vesting of these awards, which are a direct beneficial interest, is conditional on pre-determined performance and employment conditions, with a vesting date of April 15, 2028.
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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")
ACCEPTANCE OF CONDITIONAL SHARE AWARDS BY CHIEF EXECUTIVE OFFICER DESIGNATE
In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited ("the JSE Listings Requirements"), shareholders are provided with the following information related to the Chief Executive Officer (CEO) designate of Thungela in terms of the provisions of the Company's 2021 Share Plan and Remuneration Policy, regarding the award and acceptance of conditional shares.
| CEO designate: | Moses Thembinkosi Madondo |
| Nature of transaction: | Off market award and acceptance of conditional shares |
| Date of acceptance: | 16 September 2025 |
| Class of securities: | Ordinary shares |
| Number of conditional shares: | 196,054 |
| Vesting date: | 15 April 2028 |
| Award price per share*: | R94.26 |
| Award value: | R18,480,050.04 |
| Nature of interest: | Direct beneficial |
Vesting of the awards is conditional on pre-determined performance and employment conditions.
* Award price per share represents the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 14 April 2025. This equates to R94.26 per share.
Clearance to deal in terms of the JSE Listings Requirements was obtained.
Johannesburg
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
UK Financial adviser and corporate broker
Panmure Liberum 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 | PDMR - CEO 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 award and acceptance of conditional shares in terms of the Company's 2021 Share Plan |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R94.26 | 196,054 | |
| d) | Aggregated information | |
| - Aggregated volume | 196,054 | |
| - Price | R18,480,050.04 | |
| e) | Date of the transaction | 16 September 2025 |
| f) | Place of the transaction | Off market |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.