Thungela CFO sells shares to cover tax obligations

Gideon Frederick Smith, chief financial officer and a director of Thungela Resources Limited, conducted two on-market sales of the company's ordinary shares in early October 2025. The transactions were initiated to settle tax obligations arising from the vesting of his 2021 Conditional Share Award.

The sales occurred on consecutive days. On October 1, 2025, 51,124 shares were sold at a volume-weighted average price of R86.91, totaling R4,443,187. The highest price achieved on this day was R88.01, and the lowest was R86.15.

The second transaction took place on October 2, 2025, involving the sale of 23,876 ordinary shares at a volume-weighted average price of R86.30, amounting to R2,060,499. The highest price on this day was R87.33, and the lowest was R86.00. In aggregate, Smith sold 75,000 shares for a total value of R6,503,686. All transactions were direct and beneficial, and clearance was obtained prior to dealing.

Thungela Resources Limited is incorporated in South Africa and listed on both the JSE and the LSE.