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JOHANNESBURG - Thungela Resources Limited (JSE:TGA)(LSE:TGA) purchased 127,356 ordinary shares on the open market last week to be used for future settlement of employee share awards, according to a company statement released Monday.
The coal mining company acquired 36,477 shares on August 21 at a volume weighted average price of R90.04 per share, with prices ranging between R87.56 and R91.03. The transaction value totaled R3,284,389.08.
On August 22, Thungela purchased an additional 90,879 shares at a volume weighted average price of R93.04, with prices ranging from R91.15 to R95.61. This second transaction amounted to R8,455,382.16.
The combined purchases totaled approximately R11.74 million ($642,000). The shares will be held in treasury until they vest under the rules of the 2021 Thungela Share Plan, which issues rights as conditional shares to employees.
The company confirmed in its press release that it obtained clearance to deal in accordance with JSE Listings Requirements.
Thungela, which primarily operates coal mines in South Africa, was spun off from Anglo American in 2021. The company is listed on both the Johannesburg Stock Exchange and London Stock Exchange.
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