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Thungela Resources buys shares for future rights settlement

Published 30/05/2025, 13:02
Thungela Resources buys shares for future rights settlement
TGAJ
1.25%

JOHANNESBURG - South African mining company Thungela Resources Limited (JSE:TGA) (LSE:TGA) has purchased a significant number of ordinary shares on the Johannesburg Stock Exchange. The transactions, conducted over four consecutive days starting from Thursday, May 26, 2025, through Sunday, May 29, 2025, are part of the company’s strategy to acquire securities for the future settlement of rights issued as conditional shares under the 2021 Thungela Share Plan.

The company reported that a total of 73,562 shares were bought on Thursday at a volume weighted average price of R90.89 per share, with the highest price being R92.14 and the lowest R89.13. The total transaction value for the day stood at R6,686,050.18. On Friday, 149,634 shares were acquired at an average price of R92.94 per share, costing a total of R13,906,983.96. Saturday’s purchase included 134,091 shares at R94.10 each, amounting to R12,617,963.10, and on Sunday, the company secured 283,267 shares at an average of R92.95 per share, with a total transaction value of R26,329,667.65.

These shares will be held in a Treasury account until they have vested according to the rules set out by the 2021 Thungela Share Plan. The nature of interest in all transactions was reported as direct beneficial.

Thungela has confirmed that all necessary clearances to deal in these securities were obtained in compliance with the JSE Listings Requirements. The financial adviser and corporate broker for the company in the UK is Panmure Liberum Limited, with Rand Merchant Bank, a division of FirstRand Bank Limited, acting as the sponsor.

This series of acquisitions by Thungela highlights the company’s ongoing efforts to manage its share plan obligations and reflects its adherence to regulatory standards for such transactions. The information is based on a press release statement issued by Thungela Resources Limited.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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