Thungela Resources Officer Executes Major Share Sale

Thungela Resources Officer Executes Major Share Sale

Thungela Resources Limited has reported a notable transaction that took place recently. A prescribed officer of the company, Bernard Dalton, made headlines by selling a substantial number of shares. The sale involved 40,000 ordinary shares at a price of R134.55 each, culminating in a total of R5,382,000.

Compliance with Regulatory Standards

This transaction was executed in alignment with the Listings Requirements that govern trading by company insiders on the Johannesburg Stock Exchange (JSE). Prior notifications were in line with the established regulations, ensuring that all procedures were properly followed.

Clarifying Bernard Dalton's Role

In his capacity as a person discharging managerial responsibilities (PDMR), Bernard Dalton's involvement underscores the significance of the transaction. The nature of his interest was both direct and beneficial, and he obtained the necessary clearance before proceeding with the sale, demonstrating the company's commitment to regulatory compliance.

Trading on the Johannesburg Stock Exchange

Thungela's shares are actively traded on the JSE under the share code TGA. This sale showcases the dynamic trading environment in which Thungela operates, reflecting confidence in the company's performance and growth potential.

Global Footprint of Thungela Resources

Beyond the JSE, Thungela Resources also boasts a listing on the London Stock Exchange (LSE) with similar trading codes, highlighting its international presence. This dual listing allows Thungela to attract a wider range of investors and enhances its visibility in global markets.

Role of Financial Advisors

In the UK market, Panmure Liberum Limited serves as Thungela Resources' financial advisor and corporate broker. This partnership exemplifies the importance of having expert guidance in navigating the complex financial landscape, especially as the company continues to expand its operations and investor outreach.

Corporate Sponsorship and Support

Thungela is sponsored by RAND MERCHANT BANK, a division of FirstRand Bank Limited. This sponsorship provides Thungela with stability and support as it pursues its corporate objectives. Engaging with reputable institutions not only adds credibility to the company but also encourages investor confidence.

Communications and Transparency

The company has effectively communicated this transaction through RNS, the recognized news service of the London Stock Exchange. This commitment to transparency ensures that shareholders and the public are well-informed about actions taken by company insiders and the implications for the company’s performance.

Objective of the Report

The aim of this report is to inform stakeholders about the recent dealings of Thungela Resources' prescribed officer. Such transparency is essential in maintaining trust and confidence in the management’s actions, ultimately contributing to the company's long-term success.

Frequently Asked Questions

What company did Bernard Dalton sell shares in?

Bernard Dalton sold shares in Thungela Resources Limited.

How much were the shares sold for?

The shares were sold for a total of R5,382,000.

What is the share code for Thungela on the JSE?

The share code for Thungela Resources on the Johannesburg Stock Exchange is TGA.

Which financial institution sponsors Thungela Resources?

Thungela Resources is sponsored by RAND MERCHANT BANK, a division of FirstRand Bank Limited.

What regulatory compliance was followed in the transaction?

The transaction adhered to the Listings Requirements of the JSE and regulatory standards for company insiders.

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