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JOHANNESBURG - Thungela Resources Limited, a South African mining company, has disclosed transactions involving the off-market grant and acceptance of forfeitable shares to its executive directors and prescribed officers. The grants, part of the company’s 2021 Share Plan, were awarded on March 17, 2025, and the transactions took place on Monday.
The CEO, July Ndlovu, received 33,060 shares, the CFO, Gideon Frederick Smith, was granted 17,790 shares, and the COO, Johannes Petrus Daniel van Schalkwyk, obtained 13,872 shares. Other executives, including Leslie Martin, Lesego Elias Mataboge, Nompumelelo Sithole, Carina Venter, and Bernard Michael Dalton, were also recipients of similar grants, with the number of shares ranging from 8,857 to 12,048 per individual. The award price per share was set at R113.96, representing the volume-weighted average price of Thungela Resources shares on the Johannesburg Stock Exchange (JSE) for the three days ending March 19, 2025.
The shares are subject to a vesting schedule where one-third will vest each year over three years, contingent on the executives remaining employed by the company. The total value of the shares granted to these top executives amounts to several million rand, reflecting the company’s commitment to aligning the interests of its leadership with those of its shareholders.
The transactions were conducted in compliance with the JSE Listings Requirements, and clearance to deal was obtained accordingly. Thungela Resources, listed on both the JSE and the London Stock Exchange (LON:LSEG), is involved in the mining and production of thermal coal.
This information is based on a press release statement, which is a standard method for companies to communicate such transactions to the public and their investors. The disclosure of these dealings provides transparency and allows shareholders to understand the incentive structures in place for the company’s executives.
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