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Thungela Resources Limited announced that on 7 June 2022, CEO J Ndlovu and CFO GF Smith made on-market disposals of ordinary shares. J Ndlovu disposed of 202,423 shares for R50,581,459.24, and GF Smith disposed of 101,211 shares for R25,290,604.68, both at a deemed price of R249.88 per share. These transactions were conducted to settle tax obligations arising from the 4 June 2022 vesting of 50% of their 2021 conditional retention awards.
| Date | 28 Jun 2022 |
| Time | 11:00:05 |
| Category | Director/PDMR dealings |
| ID | 4428Q |
Thungela Resources Limited
Incorporated in the Republic of South Africa
(Registration number: 2021/303811/06)
ISIN: ZAE000296554
Share Code: TGA
("Thungela")
DEALINGS IN SECURITIES ON BEHALF OF DIRECTORS TO SETTLE TAX OBLIGATIONS ARISING FROM THE VESTING OF CONDITIONAL RETENTION AWARDS
Shareholders are advised of the following dealings on behalf of Thungela executive directors pursuant to the vesting, on 4 June 2022, of 50% of the conditional retention awards granted in 2021.
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Chief Executive Officer…………………: |
J Ndlovu |
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Date of transaction : |
7 June 2022 |
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Nature of transaction……………… : |
On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting |
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Class of securities………………… : |
Ordinary shares |
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Number of securities …...: |
202,423 |
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Deemed price per security……… …: |
R249.88 |
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Deemed value of transaction………….: |
R50,581,459.24 |
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Nature of interest……………………….: |
Direct beneficial |
|
Chief Financial Officer……… … ….: |
GF Smith |
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Date of transaction… …………..: |
7 June 2022 |
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Nature of transaction……… ………..: |
On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting |
|
Class of securities……………………. : |
Ordinary shares |
|
Number of securities…………… …..: |
101,211 |
|
Deemed price per security : |
R249.88 |
|
Deemed value of transaction : |
R25,290,604.68 |
|
Nature of interest………………………..: |
Direct beneficial |
The remaining 50% of the conditional retention awards will vest on 4 June 2023, subject to employment conditions being met. The ordinary shares underlying the conditional retention awards will be held in a non-tradable account. The ordinary shares will remain restricted until such time as vesting occurs.
Clearance to deal in terms of the JSE Listings Requirements was obtained.
Rosebank
28 June 2022
UK Financial adviser and corporate broker
Liberum Capital Limited
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Notification of Dealing Forms
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
July Ndlovu |
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2 |
Reason for the notification |
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a) |
Position/status |
PDMR - Chief Executive Officer |
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b) |
Initial notification /Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Thungela Resources Limited |
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b) |
LEI |
213800EGYK3BN3SRIF27 |
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4
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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 |
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a)
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Description of the financial instrument, type of instrument |
Ordinary shares of no par value |
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Identification code |
ISIN: ZAE000296554 |
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b) |
Nature of the transaction |
On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting |
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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R249.88 |
202,423 |
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d)
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Aggregated information |
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- Aggregated volume |
202,423 |
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- Price |
R50,581,459.24 |
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e) |
Date of the transaction |
7 June 2022 |
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f) |
Place of the transaction |
On market |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Deon Smith |
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2 |
Reason for the notification |
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a) |
Position/status |
PDMR - Chief Financial Officer |
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b) |
Initial notification /Amendment |
Initial notification |
|||
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||
|
a) |
Name |
Thungela Resources Limited |
|||
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b) |
LEI |
213800EGYK3BN3SRIF27 |
|||
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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 |
On market disposal of shares that have vested in respect of the 2021 retention award to settle tax obligations arising from the vesting |
|||
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c)
|
Price(s) and volume(s) |
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|
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|
Price(s) |
Volume(s) |
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R249.88 |
101,211 |
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d)
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Aggregated information |
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|||
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- Aggregated volume |
101,211 |
||||
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- Price |
R25,290,604.68 |
||||
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e) |
Date of the transaction |
7 June 2022 |
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f) |
Place of the transaction |
On market |
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