Holding(s) in Company
Thungela Resources Limited has been notified that the Public Investment Corporation SOC Limited (PIC) has increased its holding in the company to 15.326% of the issued ordinary shares, representing 21,531,268 voting rights. This significant holding increase, which crossed the notification threshold on May 12, 2026, means PIC now holds a total of 15.326% of Thungela's voting rights, up from a previous holding of 11.399%. The company has filed the required notice with the Takeover Regulation Panel.
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JSE Share Code: TGA
LSE Share Code: TGA
Tax number: 9111917259
('Company')
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 advised that Public Investment Corporation SOC Limited (PIC) has notified the Company that accounts under its management have increased its holding in the Company such that PIC now holds 15.326% of the issued ordinary shares in 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 | PUBLIC INVESTMENT CORPORATION SOC LIMITED |
| City and country of registered office (if applicable) | PRETORIA, 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 : | 12/05/2026 |
| 6. Date on which issuer notified (DD/MM/YYYY): | 14/05/2026 |
- 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 | 15.326% | 15.326% | 21 531 268 | |
| Position of previous notification (if applicable) | 11.399% | 11.399% | ||
| 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) | |
| 21 531 268 | 15.326% | |||
| SUBTOTAL 8. A | 21 531 268 | 15.326% | ||
| 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 | ||
| PUBLIC INVESTMENT CORPORATION SOC LIMITED | 15.326% | 15.326% | |||
| 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 | PRETORIA, SOUTH AFRICA | ||||
| Date of completion | 14 May 2026 | ||||
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