Major Subsidiary of Kumba Iron Ore Limited Sells Shares

  • Sishen Iron Ore Company Proprietary Limited sells 478 shares: On-market sale on February 21, 2024, with total value R249,635.98.
  • Shares were part of Bonus and Retention Share Plan: Forfeited by participants upon employment termination before vesting.
  • Transaction conducted in compliance with BRP rules: Clearance obtained, ensuring adherence to regulatory requirements and transparency.

Sishen Iron Ore Company Proprietary Limited, a major subsidiary of Kumba Iron Ore Limited, has disclosed a recent transaction involving the sale of shares. In compliance with the Listings Requirements of the JSE Limited, the details of the transaction were officially released to the public.

Transaction Details

The transaction, which took place on 21 February 2024, involved the on-market sale of ordinary shares by Sishen Iron Ore Company Proprietary Limited. Here are the specifics:

Transaction Details
Date of Transaction21 February 2024
Nature of TransactionOn-market sale of securities
Class of SecuritiesOrdinary shares
Number of Securities478
Average Weighted Selling Price per ShareR522.2510
Highest Price per ShareR526.40
Lowest Price per ShareR517.00
Total Transaction ValueR249,635.98
Nature of InterestDirect beneficial
Clearance ObtainedYes

Background

The shares sold were previously part of the Bonus and Retention Share Plan (BRP) of Sishen Iron Ore Company Proprietary Limited. Participants of the BRP forfeited these shares upon termination of employment before they vested. The sale of these shares was executed in accordance with rule 8.5.4.3.1 of the amended BRP, which was approved by shareholders at the Annual General Meeting held on 10 May 2019.

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