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Tharisa plc announced the vesting and settlement of its 2021 Long-Term Incentive Plan (LTIP) awards on 6 December 2024. Executive Chairman Loucas Pouroulis, CEO Phoevos Pouroulis, CFO Michael Gifford Jones, Group Company Secretary Sanet Findlay, and Executive Directors of subsidiaries Michelle Louise Taylor and Marios Tavros collectively received 904,524 ordinary shares at ZAR16.12 per share, with tax liabilities settled in cash and the net balance equity settled.
| Date | 11 Dec 2024 |
| Time | 10:30:01 |
| Category | Director/PDMR dealings |
| ID | 6911P |
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')
Dealings in securities by directors and company secretary of Tharisa and directors of major subsidiaries
In compliance with paragraph 3.63 of the JSE Limited Listings Requirements, Tharisa hereby advises shareholders of the vesting and settlement of the 2021 Award on 6 December 2024, in accordance with the rules of the Tharisa plc Long-Term Incentive Plan 2021 (LTIP).
In terms of the rules of the LTIP, tax obligations arising on the vesting date are for the account of the participant and a decision has been taken to settle the tax liability of participants in cash, with the net balance being equity settled.
Vesting and settlement of LTIPs granted on 8 December 2021
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1. Details of director/PDMR |
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a. Name: |
Loucas Pouroulis |
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2. Reason for notification |
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a. Position/status: |
Executive Chairman |
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b. Initial notification/amendment: |
Initial notification |
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3. Details of issuer |
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a. Company name: |
Tharisa plc |
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b. LEI: |
213800WW4YWMVVZIJM90 |
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4. Details of transaction |
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a. Description of instrument: Identification code: |
Ordinary shares of US$0.001 CY0103562118 |
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b. Nature of transaction
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Off-market vesting and settlement of Conditional Awards in shares |
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c. Price and volume: |
Price: ZAR16.12* per share |
Volume: 258 512 |
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d. Aggregated information: |
Total ZAR4 167 213.44 |
Volume: 258 512 |
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e. Transaction date: |
6 December 2024 |
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f. Place of transaction: |
Johannesburg Stock Exchange |
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Information disclosed in accordance with the JSE Listings Requirements |
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Nature of interest: |
Direct, beneficial |
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Clearance to deal: |
Yes |
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1. Details of director/PDMR |
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a. Name: |
Phoevos Pouroulis |
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2. Reason for notification |
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a. Position/status: |
Executive director - Chief Executive Officer |
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b. Initial notification/amendment: |
Initial notification |
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3. Details of issuer |
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a. Company name: |
Tharisa plc |
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b. LEI: |
213800WW4YWMVVZIJM90 |
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4. Details of transaction |
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a. Description of instrument: Identification code: |
Ordinary shares of US$0.001 CY0103562118 |
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b. Nature of transaction
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Off-market vesting and settlement of Conditional Awards in shares |
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c. Price and volume: |
Price: ZAR16.12* per share |
Volume: 265 576 |
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d. Aggregated information: |
Total ZAR4 281 085.12 |
Volume: 265 576 |
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e. Transaction date: |
6 December 2024 |
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f. Place of transaction: |
Johannesburg Stock Exchange |
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Information disclosed in accordance with the JSE Listings Requirements |
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Nature of interest: |
Direct, beneficial |
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Clearance to deal: |
Yes |
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1. Details of director/PDMR |
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a. Name: |
Michael Gifford Jones |
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2. Reason for notification |
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a. Position/status: |
Executive director - Chief Finance Officer |
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b. Initial notification/amendment: |
Initial notification |
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3. Details of issuer |
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a. Company name: |
Tharisa plc |
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b. LEI: |
213800WW4YWMVVZIJM90 |
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4. Details of transaction |
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a. Description of instrument: Identification code: |
Ordinary shares of US$0.001 CY0103562118 |
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b. Nature of transaction
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Off-market vesting and settlement of Conditional Awards in shares |
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c. Price and volume: |
Price: ZAR16.12* per share |
Volume: 153 874 |
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d. Aggregated information: |
Total ZAR2 480 448.88 |
Volume: 153 874 |
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e. Transaction date: |
6 December 2024 |
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f. Place of transaction: |
Johannesburg Stock Exchange |
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Information disclosed in accordance with the JSE Listings Requirements |
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Nature of interest: |
Direct, beneficial |
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Clearance to deal: |
Yes |
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1. Details of director/PDMR |
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a. Name: |
Sanet Findlay |
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2. Reason for notification |
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a. Position/status: |
Group Company Secretary |
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b. Initial notification/amendment: |
Initial notification |
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3. Details of issuer |
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a. Company name: |
Tharisa plc |
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b. LEI: |
213800WW4YWMVVZIJM90 |
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4. Details of transaction |
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a. Description of instrument: Identification code: |
Ordinary shares of US$0.001 CY0103562118 |
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b. Nature of transaction
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Off-market vesting and settlement of Conditional Awards in shares |
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c. Price and volume: |
Price: ZAR16.12* per share |
Volume: 26 022 |
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d. Aggregated information: |
Total ZAR419 474.64 |
Volume: 26 022 |
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e. Transaction date: |
6 December 2024 |
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f. Place of transaction: |
Johannesburg Stock Exchange |
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Information disclosed in accordance with the JSE Listings Requirements |
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Nature of interest: |
Direct, beneficial |
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Clearance to deal: |
Yes |
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1. Details of director/PDMR |
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a. Name: |
Michelle Louise Taylor |
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2. Reason for notification |
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a. Position/status: |
Executive director - Tharisa Minerals (Pty) Ltd |
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b. Initial notification/amendment: |
Initial notification |
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3. Details of issuer |
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a. Company name: |
Tharisa plc |
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b. LEI: |
213800WW4YWMVVZIJM90 |
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4. Details of transaction |
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a. Description of instrument: Identification code: |
Ordinary shares of US$0.001 CY0103562118 |
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b. Nature of transaction
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Off-market vesting and settlement of Conditional Awards in shares |
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c. Price and volume: |
Price: ZAR16.12* per share |
Volume: 134 430 |
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d. Aggregated information: |
Total ZAR2 167 011.60 |
Volume: 134 430 |
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e. Transaction date: |
6 December 2024 |
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f. Place of transaction: |
Johannesburg Stock Exchange |
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Information disclosed in accordance with the JSE Listings Requirements |
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Nature of interest: |
Direct, beneficial |
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Clearance to deal: |
Yes |
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1. Details of director/PDMR |
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a. Name: |
Marios Tavros |
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2. Reason for notification |
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a. Position/status: |
Executive director - Arxo Resources Limited |
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b. Initial notification/amendment: |
Initial notification |
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3. Details of issuer |
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a. Company name: |
Tharisa plc |
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b. LEI: |
213800WW4YWMVVZIJM90 |
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4. Details of transaction |
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a. Description of instrument: Identification code: |
Ordinary shares of US$0.001 CY0103562118 |
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b. Nature of transaction
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Off-market vesting and settlement of Conditional Awards in shares |
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c. Price and volume: |
Price: ZAR16.12* per share |
Volume: 66 110 |
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d. Aggregated information: |
Total ZAR1 065 693.20 |
Volume: 66 110 |
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e. Transaction date: |
6 December 2024 |
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f. Place of transaction: |
Johannesburg Stock Exchange |
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Information disclosed in accordance with the JSE Listings Requirements |
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Nature of interest: |
Direct, beneficial |
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Clearance to deal: |
Yes |
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* Using the closing market price of ZAR16.12 on 6 December 2024
Paphos, Cyprus
11 December 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 7418 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 multi-generational Tharisa Mine, located in the south-western limb of the Bushveld Complex, South Africa. Tharisa is also developing the Karo Platinum Project, a low-cost, open-pit PGM asset located on the Great Dyke in Zimbabwe, while simultaneously focusing on beneficiation in the form of chrome and PGM alloys. A 15-year Power Purchase Agreement with Etana for the procurement of wheeled renewable energy and a 40 MW solar project under construction will ensure that Tharisa Minerals' drive to reduce its carbon footprint by 30% by 2030 is well within reach, forming a major part of a roadmap to become net carbon neutral by 2050. 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).