/Equities/XLON/TGA/RNS

Award and acceptance of conditional shares

RNS Number : 3712G

Thungela Resources Limited

29 March 2022

Thungela Resources Limited

Incorporated in the Republic of South Africa

Registration number: 2021/303811/06

ISIN: ZAE000296554

LEI: 213800EGYK3BN3SRIF27

Share code: TGA

("Thungela Resources" or "the Company")

DEALINGS IN SECURITIES BY DIRECTORS AND PRESCRIBED OFFICERS

Award and acceptance of conditional shares

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements of the

JSE Limited ("the Listings Requirements"), we hereby provide the following information regarding the award and acceptance of conditional shares pertaining to the 2021 calendar year concluded in March 2022. The award is made and accepted by the undermentioned Executive Directors and Prescribed Officers of Thungela Resources in terms of the Company's Share Plan and Remuneration Policy:

Nature of transactions	Acceptance of conditional shares in terms of the Company's 2021 Share Plan and Remuneration Policy
Class of securities	Ordinary shares
Nature and extent of interest	Direct, beneficial
Transactions completed on or off market	Off-market
Date of acceptance	25 March 2022
Vesting period/date	7 March 2025

Name	Designation	Number of conditional shares*	Value of Award** R
July Ndlovu	Chief Executive Officer	56,592	R7,670,532
Gideon Frederick (Deon) Smith	Chief Financial Officer	29,236	R3,962,640
Johannes Petrus Daniel van Schalkwyk	Chief Operating Officer	22,797	R3,089,856
Leslie Martin	Executive Head of Technical	19,799	R2,683,535
Bernard Michael Dalton	Executive Head of Marketing	16,858	R2,284,982
Lesego Elias Mataboge	Executive Head of HR	14,063	R1,906,080
Nompumelelo Sithole	Executive Head of Corporate Affairs	14,063	R1,906,080
Carina Venter	Executive Head of SHE	14,063	R1,906,080

* The vesting of the conditional shares is conditional on pre-determined performance conditions and continued employment by Thungela Resources and where applicable, the reasons for the cessation of such employment.

** The calculation of the value of these awards is based on a VWAP of 20 days prior to the grant date of 7 March 2022 which was calculated at R135,54/share.

The requisite clearances and approvals for these transactions have been obtained in compliance with the Securities Dealing Policies

and Procedures of Thungela Resources and paragraph 3.66 of the Listings Requirements.

Rosebank

29 March 2022

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

In compliance with the UK Listings Requirements, we hereby provide the following information regarding the award to and acceptance of the conditional long term incentive awards:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	July Ndlovu
2	Reason for the notification
a)	Position/status	PDMR - Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	56,592

d)	Aggregated information
	- Aggregated volume	56,592
	- Price	R7,670,532
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gideon Frederick Smith
2	Reason for the notification
a)	Position/status	PDMR - Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	29,236

d)	Aggregated information
	- Aggregated volume	29,236
	- Price	R3,962,640
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Johannes Petrus Daniel van Schalkwyk
2	Reason for the notification
a)	Position/status	PDMR - Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	22,797

d)	Aggregated information
	- Aggregated volume	22,797
	- Price	R3,089,856
e)	Date of the transaction	25 March 2022
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
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	19,799

d)	Aggregated information
	- Aggregated volume	19,799
	- Price	R2,683,656
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bernard Michael Dalton
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Marketing
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	16,858

d)	Aggregated information
	- Aggregated volume	16,858
	- Price	R2,284,982
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Lesego Elias Mataboge
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Human Resources
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	14,063

d)	Aggregated information
	- Aggregated volume	14,063
	- Price	R1,906,080
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nompumelelo Sithole
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Corporate Affairs
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	14,063

d)	Aggregated information
	- Aggregated volume	14,063
	- Price	R1,906,080
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Carina Venter
2	Reason for the notification
a)	Position/status	PDMR - Executive Head of Safety, Health & Environment
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Thungela Resources Limited
b)	LEI	213800EGYK3BN3SRIF27
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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 acceptance of conditional long term incentive awards
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			R135,54	14,063

d)	Aggregated information
	- Aggregated volume	14,063
	- Price	R1,906,080
e)	Date of the transaction	25 March 2022
f)	Place of the transaction	Off market

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END

DSHJLMRTMTJTMPT

TIDM	TGA
Share Price	659.68p-2.95%
Market Cap	£849.17m

Date	29 Mar 2022
Time	10:00:01
Category	Director/PDMR dealings
ID	3712G

TIDM	TGA
Share Price	659.68p-2.95%
Market Cap	£849.17m

Date	29 Mar 2022
Time	10:00:01
Category	Director/PDMR dealings
ID	3712G

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Award and acceptance of conditional shares