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JOHANNESBURG - Thungela Resources Limited (JSE:TGA)(LSE:TGA) purchased 175,190 ordinary shares on the open market for its 2021 Thungela Share Plan, according to a company statement released Monday.
The coal mining company acquired the shares in two separate transactions last week. On August 20, Thungela bought 71,129 shares at a volume weighted average price of R86.81 per share, with prices ranging between R84.82 and R87.93. The total value of this transaction was R6,174,708.49.
In a second transaction on August 21, the company purchased an additional 104,061 shares at a volume weighted average price of R90.04, with prices ranging from R87.56 to R91.03. This transaction was valued at R9,369,652.44.
According to the company’s statement, the acquired shares will be held in treasury until they vest under the rules of the 2021 Thungela Share Plan. These shares are intended for future settlement of rights issued as forfeitable shares under the plan.
The company confirmed that clearance to deal in the securities was obtained in accordance with the JSE Listings Requirements. The transactions were classified as direct beneficial interest acquisitions.
Thungela Resources, which primarily operates coal mines in South Africa, was formerly part of Anglo American before being spun off as a separate entity.
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