JP Morgan Chase increases stake in Thungela Resources

Thungela Resources Limited [JSE:TGA] has announced that JP Morgan Chase & Co has increased its holding in the company to 6.63% of issued ordinary shares. The notification, made under Section 122(3)(b) of the Companies Act, indicates that accounts managed by JP Morgan Chase & Co now exceed a notifiable threshold, triggering disclosure requirements. Thungela has filed the required notice with the Takeover Regulation Panel. The announcement, dated June 6, 2025, was sponsored by Rand Merchant Bank, a division of FirstRand Bank Limited. Panmure Liberum Limited serves as UK Financial advisor and corporate broker. The notification confirms that JP Morgan Chase & Co indirectly holds 5,702,625 shares.