Dealings in Securities
In brief · summary, not quotable
Executive directors and prescribed officers granted conditional share awards vesting in April 2029.
- CEO Moses Madondo - shares granted 123,459
- CEO Moses Madondo - award value R19,404,051.03
- CFO Deon Smith - shares granted 61,174
- CFO Deon Smith - award value R9,614,717.58
- Award price per share R157.17
- Total shares granted (7 executives) 372,931
Full announcement
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JSE share code: TGA
LSE share code: TGA
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 off‑market grant and acceptance of conditional share awards by executive directors and prescribed officers. The award was made in terms of the Company's 2021 Share Plan and as contemplated in the Remuneration Policy.
| Chief Executive Officer: | Moses Madondo |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 123,459 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R19,404,051.03 |
| Nature of interest: | Direct beneficial |
| Chief Financial Officer: | Deon Smith |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 61,174 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R9,614,717.58 |
| Nature of interest: | Direct beneficial |
| Chief Operations Officer: | Johan van Schalkwyk |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 36,379 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R5,717,687.43 |
| Nature of interest: | Direct beneficial |
| Executive Head of Technical: | Leslie Martin |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 31,600 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R4,966,572.00 |
| Nature of interest: | Direct beneficial |
| Executive Head of Human Resources: | Lesego Mataboge |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 25,322 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R3,979,858.74 |
| Nature of interest: | Direct beneficial |
| Executive Head of Corporate Affairs: | Mpumi Sithole |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 25,043 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R3,936,008.31 |
| Nature of interest: | Direct beneficial |
| Executive Head of Marketing: | Bernard Dalton |
| Nature of transaction: | Off market grant and acceptance of conditional shares |
| Date of acceptance: | 11 May 2026 |
| Class of securities: | Ordinary shares |
| Number of shares: | 29,313 |
| Vesting date: | 22 April 2029 |
| Award price: | R157.17 |
| Award value: | R4,607,124.21 |
| Nature of interest: | Direct beneficial |
Vesting of the awards is conditional on pre-determined performance and employment conditions.
The award price represents the dividend-adjusted volume weighted average price of a Thungela share on the JSE for the 20 business days ended 21 April 2026. This equates to R157.17 per share.
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Notification of Dealing Forms
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Moses Madondo |
| 2 | Reason for the notification | |
| a) | Position/status | PDMR - Chief Executive Officer |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 123,459 | |
| d) | Aggregated information | |
| - Aggregated volume | 123,459 | |
| - Price | R19,404,051.03 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off market |
| 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 |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 61,174 | |
| d) | Aggregated information | |
| - Aggregated volume | 61,174 | |
| - Price | R9,614,717.58 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off 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 |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 36,379 | |
| d) | Aggregated information | |
| - Aggregated volume | 36,379 | |
| - Price | R5,717,687.43 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off 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 |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 31,600 | |
| d) | Aggregated information | |
| - Aggregated volume | 31,600 | |
| - Price | R4,966,572.00 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off 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 |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 25,322 | |
| d) | Aggregated information | |
| - Aggregated volume | 25,322 | |
| - Price | R3,979,858.74 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off 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 |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 25,043 | |
| d) | Aggregated information | |
| - Aggregated volume | 25,043 | |
| - Price | R3,936,008.31 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off 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 |
| 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 conditional shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| R157.17 | 29,313 | |
| d) | Aggregated information | |
| - Aggregated volume | 29,313 | |
| - Price | R4,607,124.21 | |
| e) | Date of the transaction | 11 May 2026 |
| f) | Place of the transaction | Off market |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.