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Tharisa plc announced an amendment concerning Marios Tavros, an Executive Director of its subsidiary Arxo Resources Limited, regarding the vesting and settlement of the 2021 Award. On 6 December 2024, Mr. Tavros elected for the Company to settle his tax liability, which reduced the number of shares equity settled from 66,110 to 47,599 at a price of ZAR16.12 per share, totalling ZAR767,295.88.
| Date | 25 Feb 2025 |
| Time | 07:00:08 |
| Category | Director/PDMR dealings |
| ID | 2497Y |
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')
Dealing in securities by director of a major subsidiary
Further to the announcement released on 11 December 2024 regarding the vesting and settlement of the 2021 Award on 6 December 2024, Tharisa advises that the below participant had subsequently elected for the Company to settle his tax liability, thereby reducing the number of shares being equity settled from 66 110 shares as announced on 11 December 2024, to 47 599 shares as detailed below.
Update to 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: |
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: |
Amendment to 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: 47 599 |
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d. Aggregated information: |
Total ZAR767 295.88 |
Volume: 47 599 |
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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
25 February 2025
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).