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Ordinary cash dividend declaration
THUNGELA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2021/303811/06
JSE Share Code: TGA
LSE Share Code: TGA
ISIN: ZAE000296554
Tax number: 9111917259
(‘Thungela’ or the ‘Company’ and, together with its affiliates, the 'Group')
ORDINARY CASH DIVIDEND DECLARATION
The Thungela board of directors approved the declaration of a final gross ordinary cash
dividend of 4,000.00 cents per share (South African rand). The dividend has been
declared from retained earnings accrued during the year ended 31 December 2022.
The Company’s issued share capital at the declaration date is 140,492,585 ordinary
shares.
The salient dates pertaining to the cash dividend are as follows:
JSE LSE
Declaration of ordinary cash dividend Monday, 27 March 2023 Monday, 27 March 2023
and currency conversion rate announced
Last day for trading to qualify and Tuesday, 18 April 2023 Wednesday, 19 April 2023
participate in the dividend
Trading ex-dividend commences Wednesday, 19 April 2023 Thursday, 20 April 2023
Record date Friday, 21 April 2023 Friday, 21 April 2023
Payment date to shareholders Monday, 24 April 2023 Tuesday, 9 May 2023
No transfers of shareholdings to and from South Africa or the United Kingdom will be
permitted between Tuesday, 18 April 2023 and Friday, 21 April 2023 (both dates
inclusive). Share certificates may not be dematerialised or rematerialised between
Wednesday, 19 April 2023 and Friday, 21 April 2023 (both dates inclusive). Any changes
to the dividend instructions and timetable will be announced on SENS and RNS.
The salient dates have been set as above in order to allow non-South African resident
shareholders sufficient time to apply for a reduced rate of dividend withholding tax in the
event that they may qualify for this.
The dividend is payable in South African rand to shareholders recorded as such on the
register on the record date and whose shares are held through Central Securities
Participants and brokers traded on the JSE.
Shareholders on the United Kingdom register of members will be paid in Pound sterling.
The Pound sterling cash equivalent will be calculated using the following exchange rate:
GBP1:ZAR22.43694, being the 5-day (business days) average GBP:ZAR exchange
rate (Bloomberg) up to Thursday, 23 March 2023.
Shareholders are encouraged to ensure that their bank mandates or international
payment instructions have been recorded by their service provider or registrars before
the last day to trade for this dividend. Electronic payments ensure more efficient and
timely payment. It should be noted that cheques are no longer permitted to be issued or
processed by South African banks; however, in the UK registrars will still issue and post
cheques in the absence of specific mandates or payment instructions.
TAX TREATMENT FOR SHAREHOLDERS ON THE SOUTH AFRICAN REGISTER
The dividend will have no tax consequences for Thungela but will be subject to 20%
withholding tax for shareholders who are not exempt from dividends tax, or who do not
qualify for a reduced rate of withholding tax in terms of any applicable agreement for the
avoidance of double taxation (DTA) concluded between South Africa and the country of
residence of the shareholder.
Should dividend withholding tax be withheld at a rate of 20%, the net dividend amount
due to shareholders is 3,200.00 cents per share (South African rand) – 4,000.00 cents
gross dividend per share less 800.00 cents dividend withholding tax per share.
TAX TREATMENT FOR SHAREHOLDERS ON THE UK REGISTER
Thungela has retained Computershare UK as intermediary to receive and process the
relevant prescribed declarations and forms as set out below. Any reference below to
documentation which is required to be submitted to Thungela, should therefore be
submitted to Computershare UK.
Non-South African tax resident shareholders will be paid the dividend subject to 20%
withholding tax for shareholders. Certain non-South African tax resident shareholders
may, however, be entitled to a reduced rate of dividends tax due to the provisions of an
applicable tax treaty.
Shareholders who qualify for an exemption from dividends tax in terms of section 64F of
the South African Income Tax Act 58 of 1962 must provide:
- A declaration that the dividend is exempt from dividends tax.
- A written undertaking to inform the regulated intermediary should the circumstances
affecting the exemption change or the beneficial owner cease to be the beneficial
owner, both in the form prescribed by the Commissioner for the South African
Revenue Service to the regulated intermediary prior to the required date in order to
benefit from the exemption. The prescribed form has been transposed onto the
Computershare UK format.
Shareholders on the UK register will be sent the required documentation for completion
and return to Computershare UK. Qualifying shareholders on the UK register are
advised to arrange for the above mentioned documents to be submitted to
Computershare UK by Friday, 21 April 2023.
Should dividend withholding tax be withheld at a rate of 20%, the net dividend amount
due to shareholders is 142.62 pence per share (Pound sterling) – 178.28 pence gross
dividend per share less 35.66 pence dividend withholding tax per share.
By order of the board.
Date of SENS release: 27 March 2023
DISCLAIMER
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the market abuse regulation (EU) no.
596/2014 as amended by the market abuse (amendment) (UK mar) regulations 2019.
Upon the publication of this announcement via the regulatory information service, this
inside information is now considered to be in the public domain.
Transfer Secretaries (UK)
Computershare Investor Services
Email: WebCorres@computershare.co.uk
Transfer Secretaries (South Africa)
Computershare Investor Services Proprietary Limited
Email: Web.Queries@computershare.co.za
Investor Relations
Ryan Africa
Email: ryan.africa@thungela.com
UK Financial adviser and corporate broker
Liberum Capital Limited
Tel: +44 20 3100 2000
Sponsor
Rand Merchant Bank
(A division of FirstRand Bank Limited)
Date: 27-03-2023 08:01:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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