JOHANNESBURG - Thungela Resources Limited, a South African mining company, has announced the on-market acquisition of 1,887 of its own ordinary shares. These shares, purchased at an average price of R126.80 per share, are intended for the future settlement of rights issued as forfeitable shares under the company's 2021 Share Plan.
The transaction, which took place on Tuesday, involved shares with the highest and lowest purchase prices of R128.19 and R125.50, respectively, amounting to a total value of R239,271.60. Thungela has clarified that these repurchased shares will be held in Treasury until they vest according to the rules of the 2021 Thungela Company Share Plan.
In accordance with the JSE Listings Requirements, Thungela has obtained the necessary clearance to deal in these securities. The information about the transaction was disseminated in compliance with the financial market regulations.
Thungela's share codes are listed as TGA on both the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LON:LSEG) (LSE), with the ISIN being ZAE000296554.
This transaction reflects the company's ongoing efforts to manage its share plan and provide for the future allocation of shares to its employees. It is a common practice among publicly traded companies to repurchase their own shares for purposes such as employee incentive programs.
The news of this transaction is based on a press release statement and has been reported in line with journalistic standards to provide shareholders and potential investors with the latest factual information regarding Thungela's dealings in securities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.