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Public Investment Corporation SOC Limited (PIC) increased its holding in Thungela Resources Limited ordinary shares, crossing a notification threshold on 11 December 2025. As a result of this acquisition, PIC now holds 11.399% of the issued ordinary shares in Thungela, compared to a previously notified position of 10.546%.
| Date | 17 Dec 2025 |
| Time | 11:00:00 |
| Category | Holding(s) in company |
| ID | 9378L |
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
Tax number: 9111917259
('Company')
DISCLOSURE OF CHANGE IN SIGNIFICANT HOLDING OF THUNGELA ORDINARY SHARES
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 11.399% of the issued ordinary shares in the Company.
The board of directors of Thungela accepts responsibility for the information contained in this announcement as it relates to the Company and confirms that, to the best of its knowledge and belief, such information relating to Thungela is true and that this announcement does not omit anything likely to affect the importance of such information.
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
UK Financial adviser and corporate broker
Panmure Liberum Limited
Johannesburg
17 December 2025
TR-1: Standard form for notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii: |
THUNGELA RESOURCES LTD |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) |
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Non-UK issuer |
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2. Reason for the notification (please mark the appropriate box or boxes with an "X") |
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An acquisition or disposal of voting rights |
X |
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An acquisition or disposal of financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify) iii: |
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3. Details of person subject to the notification obligation iv |
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Name |
PUBLIC INVESTMENT CORPORATION SOC LIMITED |
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City and country of registered office (if applicable) |
PRETORIA, SOUTH AFRICA |
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4. Full name of shareholder(s) (if different from 3.) v |
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Name |
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City and country of registered office (if applicable) |
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5. Date on which the threshold was crossed or reached vi: |
11/12/2025 |
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6. Date on which issuer notified (DD/MM/YYYY): |
15/12/2025 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer (8.A + 8.B) vii |
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Resulting situation on the date on which threshold was crossed or reached |
11.399% |
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11.399% |
16 014 118 |
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Position of previous notification (if applicable) |
10.546% |
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10.546% |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rights ix |
% of voting rights |
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Direct (DTR5.1) |
Indirect (DTR5.2.1) |
Direct (DTR5.1) |
Indirect (DTR5.2.1) |
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16 014 118 |
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11.399% |
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SUBTOTAL 8. A |
16 014 118 |
11.399% |
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B 1: Financial Instruments according to DTR5.3.1R (1) (a) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
NIL |
NIL |
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B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash Settlement xii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
NIL |
NIL |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii |
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Full chain of controlled undertakings through which the voting rights and/or the |
X |
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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 |
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PUBLIC INVESTMENT CORPORATION SOC LIMITED |
11.399% |
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11.399% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
N/A |
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The number and % of voting rights held |
N/A |
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The date until which the voting rights will be held |
N/A |
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11. Additional information xvi |
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Place of completion |
PRETORIA, SOUTH AFRICA |
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Date of completion |
15 December 2025 |