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JOHANNESBURG - Thungela Resources Limited, a South African mining company, has announced the completion of its share buyback program that was initially disclosed following the release of its annual results on March 17, 2025. The company has acquired 3,254,559 shares for a total cost of R328 million, which will be held by a subsidiary and not cancelled.
As of April 30, 2025, Thungela holds a total of 10,175,308 treasury shares, including those allocated for employee share awards that have not yet vested. The 8,224,967 shares held directly by subsidiaries do not carry voting rights, while the remaining 1,950,341 shares are in broker accounts for employees under the Thungela share plan.
The current number of ordinary shares with voting rights in Thungela stands at 132,267,618. This figure is significant for shareholders and other stakeholders who need to disclose their interest in the company or any changes to it.
This update follows Thungela’s strategic move to manage its capital structure and return value to its shareholders. The completion of the buyback program and the consolidation of treasury shares are part of the company’s broader financial strategy.
The company’s actions are reported in accordance with the UK Financial Conduct Authority’s Disclosure Guidance and Transparency Rule 5.6. The information contained in this article is based on a press release statement and provides shareholders and the market with the necessary data to assess their position in relation to Thungela Resources Limited.
Thungela’s financial adviser and corporate broker in the UK is Panmure Liberum Limited, while Rand Merchant Bank serves as the sponsor in South Africa.
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