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JOHANNESBURG - Thungela Resources Limited, a South African mining company, reported transactions involving the sale of vested forfeitable shares by its executive directors and prescribed officers. The sales, conducted on the open market on March 24, 25, and 27, were made to settle tax obligations arising from the vesting of these shares under the company’s 2021 Share Plan and Remuneration Policy.
The transactions involved the Chief Executive Officer, July Ndlovu, who sold a total of 8,341 shares, and the Chief Financial Officer, Gideon Frederick Smith, who sold 4,487 shares. The Chief Operations Officer, Johannes Petrus Daniel van Schalkwyk, sold 3,365 shares, while Leslie Martin, Executive Head of Technical, parted with 2,944 shares. The Executive Head of Human Resources, Lesego Elias Mataboge, disposed of 2,072 shares, and the Executive Head of Corporate Affairs, Nompumelelo Sithole, sold 2,069 shares. Additionally, Carina Venter, Executive Head of Safety, Health, and Environment, sold 2,016 shares, and Bernard Michael Dalton, Executive Head of Marketing, sold 2,410 shares.
The sale prices of the shares ranged from R105.25 to R110.93, with the transactions totaling several hundred thousand South African Rand for each individual. These sales were executed in compliance with the JSE Listings Requirements, with the necessary clearances obtained.
The remaining forfeitable awards from the March 2023 award are set to vest in March 2026, and the awards from March 2024 will vest in two equal tranches in March 2026 and March 2027, all subject to employment conditions being met. Until the vesting of these shares, the remaining ordinary shares underlying the unvested forfeitable awards will be held in Treasury.
This information is based on a press release statement provided by Thungela Resources Limited and is intended to inform shareholders and the public of the recent financial activities of the company’s executives.
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