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Thungela Resources officer sells shares worth over R2.5 million

Published 12/03/2024, 07:02 AM
TGAJ
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JOHANNESBURG - Thungela Resources Limited, a company incorporated in the Republic of South Africa, has disclosed a transaction involving the on-market sale of ordinary shares by one of its prescribed officers. Nompumelelo Sithole, the officer in question, sold 20,000 ordinary shares at a price of R128.27 per share, resulting in a total transaction value of R2,565,400.

The transaction took place on Monday, 28 November 2024, and was conducted on the Johannesburg Stock Exchange (JSE). According to the regulatory filing, Sithole's interest in the shares is direct and beneficial. The company confirmed that the necessary clearance for the transaction was obtained in accordance with the JSE Limited Listings Requirements.

The disclosure follows the guidelines set by the JSE, adhering to paragraphs 3.63 to 3.74 of its Listings Requirements, which govern the trading of securities by company insiders. Such disclosures are mandatory to ensure transparency and maintain investor confidence in the market.

Thungela Resources, which is also listed on the London Stock Exchange (LON:LSEG) (LSE) under the same ticker symbol, is represented by Panmure Liberum Limited as its UK financial adviser and corporate broker, with RAND MERCHANT BANK, a division of FirstRand Bank Limited, acting as its sponsor.

This sale of shares by a prescribed officer is a routine disclosure and forms part of the regulatory process designed to ensure that all market participants have access to the same information regarding transactions by key individuals within a listed company. The information is based on a press release statement from Thungela Resources and is intended to inform investors of significant financial activities related to the company's securities.

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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