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JOHANNESBURG - Thungela Resources Limited, a South African mining company, has reported a series of on-market acquisitions of its ordinary shares for the Thungela Share Plan, which is designed to allocate forfeitable shares to employees. These transactions, which took place between April 2 and April 7, 2025, are in compliance with the JSE Listings Requirements.
The company acquired a total of 1,259,436 shares over four separate transactions. On April 2, Thungela purchased 314,859 shares at a volume weighted average price (VWAP) of R104.00, with the highest and lowest prices per share being R107.03 and R101.53, respectively. The transaction value for this purchase amounted to R32,745,336.00.
Subsequent acquisitions occurred on April 3, with another 314,859 shares bought at a VWAP of R100.51 and transaction value of R31,646,478.09; on April 4, 204,857 shares were acquired at a VWAP of R97.06, totaling R19,883,420.42; and on April 7, the company purchased 424,861 shares at a VWAP of R94.10 for a transaction value of R39,979,420.10.
Thungela's recent share purchases will be held in Treasury until they vest under the rules of the 2021 Thungela Share Plan. The nature of the interest in these transactions is reported as direct beneficial.
The company has obtained clearance to deal in these securities according to the JSE Listings Requirements. The financial adviser and corporate broker for Thungela in the UK is Panmure Liberum Limited, while Rand Merchant Bank, a division of FirstRand Bank Limited, serves as the sponsor.
This financial activity is part of Thungela's ongoing efforts to implement its employee share plan, which aims to incentivize its workforce through the allocation of shares that will become theirs upon meeting certain conditions. The information is based on a press release statement issued by Thungela Resources Limited.
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