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Tharisa plc completed its share repurchase programme on August 30, 2024, having repurchased an aggregate of 4,836,918 ordinary shares for approximately US$5.0 million. These purchases were executed on the Johannesburg and London stock exchanges, resulting in 295,204,391 total voting rights in the Company as of the announcement date.
| Date | 2 Sept 2024 |
| Time | 14:00:00 |
| Category | Capital structure |
| ID | 5636C |
Tharisa plc
(Incorporated in the Republic of Cyprus with limited liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
A2X share code: THA
ISIN: CY0103562118
LEI: 213800WW4YWMVVZIJM90
('Tharisa' or the 'Company')
Transactions in own shares, voting rights and completion of Repurchase Programme
Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, announces that, in accordance with the terms of its share repurchase programme announced on 26 March 2024 (the 'Repurchase Programme'), it purchased the following number of ordinary shares of USD0.001 each in the Company ('Ordinary Shares') through Peel Hunt LLP ('Peel Hunt'). The Ordinary Shares purchased will be held in treasury for a period not exceeding two calendar years from the repurchase date and, unless reissued, will be cancelled.
Purchases during the period 26 August 2024 and 30 August 2024
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JSE purchases |
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Date of purchase |
26 August 2024 to 30 August 2024 |
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Aggregate number of Ordinary Shares purchased on JSE |
10 000 |
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Lowest price paid per share |
ZAR19.3100 |
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Highest price paid per share |
ZAR19.5000 |
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Volume weighted average price paid per share |
ZAR19.4050 |
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The aggregate number of shares purchased on the JSE in terms of the Repurchase Programme since 2 April 2024 is 252 143 at an average price of ZAR19.0039 per share and a total cost (including dealing and associated costs) of ZAR4 791 695.40. |
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London Stock Exchange ('LSE') purchases |
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Date of purchase |
26 August 2024 to 30 August 2024 |
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Aggregate number of Ordinary Shares purchased on LSE |
136 570 |
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Lowest price paid per share |
79.6200 pence |
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Highest price paid per share |
81.3400 pence |
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Volume weighted average price paid per share |
80.7802 pence |
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The aggregate number of shares purchased on the LSE in terms of the Repurchase Programme since 4 April 2024 is 4 584 775 shares at an average price of 79.9804 pence per share and a total cost (including dealing and associated costs) of GBP3 666 920.09. |
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Voting rights
Following the purchases during this period the Company has 302 596 743 Ordinary Shares in issue, of which 7 392 352 Ordinary Shares are held in treasury.
The total number of voting rights in Tharisa is therefore 295 204 391. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Completion of US$5.0 million Repurchase Programme
Following the purchase of ordinary shares on 30 August 2024, the Repurchase Programme, as announced on 26 March 2024, has now been completed.
Over the course of the Repurchase Programme, the Company has repurchased in aggregate 4 836 918 Ordinary shares on the Johannesburg and London stock exchanges for a total consideration of approximately US$5.0 million. A total of 252 143 shares have been repurchased on the Johannesburg Stock Exchange at a volume weighted average price of ZAR19.00 per share and 4 584 775 shares have been repurchased on the London Stock Exchange at a volume weighted average price of 79.98 pence per share.
The information contained in this update is the responsibility of the board of directors and has not been reviewed or reported on by the Group's external auditors.
Paphos, Cyprus
2 September 2024
JSE Sponsor
Investec Bank Limited
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Investor Relations Contacts:
Ilja Graulich (Head of Investor Relations and Communications)
+27 11 996 3500
+27 83 604 0820
Broker Contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / Georgia Langoulant
+44 207 418 8900
BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Nick Macann
+44 207 236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Jennifer Lee / Detlir Elezi
+44 203 207 7800
About Tharisa
Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates exploration, mining, processing and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. Its principal operating asset is the Tharisa Mine, located in the south-western limb of the Bushveld Complex, South Africa. The mine has a 13-year open pit life and is strategically advancing the vast mechanised underground resource which extends for over 60 years. Tharisa is developing the Karo Platinum Project, a low-cost, open-pit PGM asset located on the Great Dyke in Zimbabwe. The Company is committed to reducing its carbon emissions by 30% by 2030 and the development of a roadmap to become net carbon neutral by 2050. As part of this energy transition, the 40 MW solar project adjacent to the Tharisa Mine is well advanced. Redox One is accelerating the development of a proprietary iron chromium redox flow long duration battery utilising the commodities we mine. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of the London Stock Exchange (LSE: THS).