REG - Thungela Resources - CONFIRMATION OF TREASURY SHARES HELD

Thungela ResourcesAnnouncement

03/06/2024 16:30

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RNS Number : 9233Q  Thungela Resources Limited  03 June 2024

Thungela Resources Limited

(Incorporated in the Republic of South Africa)

(Registration number:  2021/303811/06)

JSE share code: TGA

LSE share code: TGA

ISIN: ZAE000296554

('Thungela' or the 'Company' and together with its affiliates, the 'Group')

 

THUNGELA CONFIRMATION OF TREASURY SHARES HELD AND SHARE REPURCHASE UPDATE

 

Confirmation of treasury shares held

The following notification is made in accordance with the UK Financial Conduct
Authority's Disclosure Guidance and Transparency Rule 5.6.

 

At 31 May 2024, the Group holds a total of 7,446,294 shares in treasury. This
includes 6,194,139 shares held directly by subsidiaries and 1,252,155 shares
held in separate broker accounts for employees. The shares held in employee
broker accounts relate to share awards in terms of the Thungela share plan
which have not yet vested. These shares are considered treasury shares for
Thungela until the awards have vested, in line with the rules of the Thungela
share plan.

 

The 6,194,139 treasury shares held directly by subsidiaries do not carry
voting rights.

 

The total number of ordinary shares in issue which carry voting rights amounts
to 134,298,446.

 

This information may be used by shareholders (and others with notification
obligations) as the denominator for the calculations by which they will
determine whether they are required to notify their interest in, or a change
to their interest in the Company.

 

Share repurchase update

On 18 March 2024, the Company announced a share repurchase which commenced on
19 March 2024 and was completed on 3 June 2024. The share repurchase was
effected in accordance with the general authority received by way of a
shareholder special resolution passed at the Thungela Annual General Meeting
(AGM) held on 31 May 2023. This allowed Thungela Operations Proprietary
Limited, a subsidiary of the Group, to repurchase up to 10% of the issued
share capital of the Company, subject to certain limitations.

 

The Company's ordinary shares were repurchased on the Johannesburg Stock
Exchange during the period 19 March 2024 to 3 June 2024, for a total
consideration of R441,615,378, equivalent to 3,307,667 ordinary shares or
2.35% of issued share capital at an average price of R133.21 per share.
Subject to the resolution put forward to the shareholders as part of the AGM
to be held on 4 June 2024, the Thungela board will continue to evaluate
further share repurchases as part of its capital allocation review.

 

Rosebank

3 June 2024

 

 

Investor Relations

Hugo Nunes

Email: hugo.nunes@thungela.com

 

Shreshini Singh

Email: shreshini.singh@thungela.com

 

Media

Hulisani Rasivhaga

Email: hulisani.rasivhaga@thungela.com

 

UK Financial adviser and corporate broker

Liberum Capital Limited

 

Sponsor

Rand Merchant Bank

(a division of FirstRand Bank Limited)

 

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