Holding(s) in Company
Thungela Resources Limited has been formally notified that clients of Allan Gray Proprietary Limited have disposed of ordinary shares, reducing their aggregate interest to 8.6416% of the company's total issued ordinary shares, down from a previous holding of 10.0180%. This change in significant holding has been reported to the Takeover Regulation Panel as required by law.
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JSE Share Code: TGA
LSE Share Code: TGA
Tax number: 9111917259
('Company' or 'Thungela')
DISCLOSURE OF CHANGE IN SIGNIFICANT HOLDING OF THUNGELA ORDINARY SHARES
In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 as amended ("the Companies Act"), regulation 121(2)(b) of the Companies Regulations, 2011 and paragraph 6.54 of the JSE Limited Listings Requirements, shareholders are hereby advised that Thungela has received formal notification that clients of Allan Gray Proprietary Limited (Allan Gray) have, in aggregate, disposed of an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by Allan Gray's clients now amounts to 8.6416% of the total issued ordinary shares of the Company.
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
UK Financial adviser and corporate broker
Panmure Liberum Limited
Johannesburg
TR-1: Standard form for notification of major holdings
- Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer
- Reason for the notification (please mark the appropriate box or boxes with an "X")
| An acquisition or disposal of voting rights | X |
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii :
Details of person subject to the notification obligation iv
| Name | Allan Gray Proprietary Limited - Clients |
| City and country of registered office (if applicable) | South Africa |
Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)
| 5. Date on which the threshold was crossed or reached vi : | 19/03/2026 |
| 6. Date on which issuer notified (DD/MM/YYYY): | 23/03/2026 |
- Total positions of person(s) subject to the notification obligation
| % of voting rights attached to shares (total of 8. A) | % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) | Total of both in % (8.A + 8.B) | Total number of voting rights held in issuer (8.A + 8.B) vii | |
|---|---|---|---|---|
| Resulting situation on the date on which threshold was crossed or reached | 8.6416% | 8.6416% | 1 214 0813 | |
| Position of previous notification (if applicable) | 10,0180% | 10,0180% | ||
| A: Voting rights attached to shares | ||||
| Class/type of shares ISIN code (if possible) | Number of voting rights ix | % of voting rights | ||
| Direct (DTR5.1) | Indirect (DTR5.2.1) | Direct (DTR5.1) | Indirect (DTR5.2.1) | |
| 1 214 0813 | 8.6416% | |||
| SUBTOTAL 8. A | 1 214 0813 | 8.6416% | ||
| B 1: Financial Instruments according to DTR5.3.1R (1) (a) | ||||
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Number of voting rights that may be acquired if the instrument is exercised/converted. | % of voting rights |
| SUBTOTAL 8. B 1 | NIL | NIL | ||
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
| Type of financial instrument | Expiration date x | Exercise/ Conversion Period xi | Physical or cash Settlement xii | Number of voting rights | % of voting rights |
| SUBTOTAL 8.B.2 | NIL | NIL | |||
| Name xv | % of voting rights if it equals or is higher than the notifiable threshold | % of voting rights through financial instruments if it equals or is higher than the notifiable threshold | Total of both if it equals or is higher than the notifiable threshold | ||
| Allan Gray Proprietary Limited - Clients | 8.6416% | 8.6416% | |||
| 10. In case of proxy voting, please identify: | |||||
| Name of the proxy holder | N/A | ||||
| The number and % of voting rights held | N/A | ||||
| The date until which the voting rights will be held | N/A | ||||
| 11. Additional information xvi | |||||
| Place of completion | Cape Town, SOUTH AFRICA | ||||
| Date of completion | 24 March 2026 | ||||
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