Thungela executive directors accept conditional share awards

Thungela Resources Limited (JSE:TGA) has announced the acceptance of conditional share awards by its executive directors and prescribed officers, in compliance with JSE Listings Requirements. The awards, part of the company's 2021 Share Plan and Remuneration Policy, were made on May 5, 2025, and will vest on April 15, 2028. July Ndlovu, Chief Executive Officer, accepted 191,165 shares with an award value of ZAR18,019,212.90. Gideon Frederick Smith, Chief Financial Officer, received 91,834 shares valued at ZAR8,656,272.84. Other key executives, including Johannes Petrus Daniel van Schalkwyk, Leslie Martin, Lesego Elias Mataboge, Nompumelelo Sithole, Carina Venter, and Bernard Michael Dalton also received awards. The award price per share was ZAR94.26, representing the dividend-adjusted volume-weighted average price on the JSE for the 20 business days ending April 14, 2025. Vesting is contingent upon predetermined performance and employment conditions.