Thungela Resources Limited (JSE/LSE: TGA), the South Africa-based thermal coal producer, has disclosed that prescribed officer Bernard Dalton sold 9,797 ordinary shares on 3 November 2026. The on-market sale was executed on the Johannesburg Stock Exchange at a volume weighted average price of R129.48 per share, generating total proceeds of R1,268,515.56. The transaction was disclosed on 9 November 2026 in compliance with JSE Listings Requirements and EU Market Abuse Regulation Article 19 notification obligations, confirming that clearance was obtained prior to the sale.

Key Points

  • Thungela Resources Limited (JSE/LSE: TGA), incorporated in the Republic of South Africa
  • Prescribed officer Bernard Dalton sold 9,797 ordinary shares on 3 November 2026 in an on-market transaction on the JSE
  • Volume weighted average sale price of R129.48 per share; total transaction value of R1,268,515.56; highest price R129.54, lowest R129.47
  • Investors may watch for further PDMR activity disclosures or any updates to Thungela's operational and financial guidance

Bernard Dalton's On-Market Sale of Thungela Ordinary Shares on the JSE

The announcement confirms that Bernard Dalton, a prescribed officer of Thungela Resources, conducted a direct, beneficial on-market sale of 9,797 ordinary shares of no par value on 3 November 2026. The transaction was executed on the Johannesburg Stock Exchange (XJSE) at a volume weighted average price of R129.48, with the highest price achieved at R129.54 and the lowest at R129.47 per share. The narrow price range across the transaction indicates the sale was completed within a single trading session. Clearance was confirmed as having been obtained before the transaction was undertaken.

Regulatory Disclosure Under JSE Listings Requirements and EU Market Abuse Regulation

Thungela Resources filed this notification in compliance with paragraphs 6.77 to 6.80 of the JSE Listings Requirements and pursuant to Article 19(1) of Regulation (EU) No. 596/2014, which governs transactions by persons discharging managerial responsibilities. The disclosure identifies the transaction as an initial notification rather than an amendment. The company's Legal Entity Identifier is 213800EGYK3BN3SRIF27, and the relevant ISIN is ZAE000296554, with the shares also carrying SEDOL code BMV3M27. Thungela's sponsor is Rand Merchant Bank, a division of FirstRand Bank Limited, while Panmure Liberum Limited acts as UK financial adviser and corporate broker.

Thungela Resources' Dual Listing and South African Coal Operations

Thungela Resources was incorporated in the Republic of South Africa under registration number 2021/303811/06 and maintains a dual listing on both the JSE and the London Stock Exchange under the ticker TGA. The company operates as a thermal coal producer, with its primary assets and operations based in South Africa. As a dual-listed resource company exposed to commodity price cycles, rand-sterling exchange rate movements, and evolving global energy transition policies, PDMR share transactions are routinely monitored by investors as one indicator of insider sentiment regarding the company's near-term prospects.