TIDMTHS
RNS Number : 8187M
Tharisa PLC
26 May 2022
Tharisa plc
(Incorporated in the Republic of Cyprus with limited
liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
A2X share code: THA
ISIN: CY0103562118
LEI: 213800WW4YWMVVZIJM90
('Tharisa' or the 'Company')
Reviewed interim results for the six months ended 31 March 2022
and dividend timetable and conversion rates
Tharisa, an integrated resource group critical to the energy
transition and decarbonisation of economies, with its principal
operating asset being the 20-year open-pit life Tharisa Mine
located in the south-western limb of the Bushveld Complex, South
Africa and also owning Karo Mining Holdings and Salene Chrome,
development stage, low-cost, open-pit PGM and chrome assets
respectively, located on the Great Dyke in Zimbabwe, has released
its interim results for the six months ended
31 March 2022.
REEF MINED PGM PRODUCTION CHROME CONCENTRATE
PRODUCTION
2.83 Mt 5PGE+Au 776.7 kt
up 14.6% 91.8 koz up 6.3%
(2021: 2.47 Mt) Up 22.2% (2021: 730.7 kt)
(2021: 75.1 koz)
REVENUE EBITDA PBT
US$334.0 m US$111.3 m US$124.3 m
up 6.5% Down 10.4 % Up 18.8%
(2021: US$313.6 m) (2021: US$124.2 m) (2021: US$104.6 m)
NPAT EARNINGS AND HEADLINE INTERIM DIVID
EARNINGS PER SHARE
US$101.6 m US 32.7 c and US 15.5 US 3 c
c
Up 34.2% EPS up 52.8% and HEPS
down 29.2%
(2021: US$75.7 m) (2021: US 21.4 c and
US 21.9 c)
This short form announcement is the responsibility of the
directors and is only a summary of the information in the full
announcement. The full announcement was released on SENS and RNS
on
26 May 2022, and can be found on the Company's website at
www.tharisa.com and can also be viewed here,
https://senspdf.jse.co.za/documents/2022/jse/isse/THA/H1results.pdf
. Copies of the announcement may also be requested at the Company's
registered office, at no charge, during office hours.
Any investment decision should be based on the full announcement
published on SENS and RNS.
Ernst & Young Cyprus Limited has expressed an unmodified
review opinion on the reviewed interim condensed consolidated
financial statements. That report is available on the Company's
website: www.tharisa.com .
Dividend currency conversion rates and timetable
An interim dividend of US 3.0 cents per ordinary share has been
declared. The interim dividend will be paid on Wednesday, 29 June
2022 and will be paid from income reserves.
Shareholders on the principal Cyprus register will be paid in
United States Dollar (USD), shareholders whose shares are held
through Central Securities Depositary Participants (CSDPs) and
brokers and are traded on the JSE will be paid in South African
Rand (ZAR) and holders of Depositary Interests traded on the LSE
will be paid in Sterling (GBP). The currency equivalents of the
dividend, based on the weighted average of the South African
Reserve Bank's daily rate at approximately 10:30 (UTC +2) on 24 May
2022, being the currency conversion date, are as follows:
Exchange rate Dividend per share in payment
currency
South Africa ZAR 15.76680/US$ 47.30040 South African cents
- JSE per share
----------------- ------------------------------
United Kingdom GBP 0.79681/US$ 2.39044 pence per share
- LSE
----------------- ------------------------------
The timetable for the dividend declaration is as follows:
Currency conversion date Tuesday, 24 May 2022
Declaration date and currency conversion rates announced
Thursday, 26 May 2022
Last day to trade cum-dividend rights on the JSE
Monday, 13 June 2022
Last day to trade cum-dividend rights on the LSE Wednesday, 15
June 2022
Shares will trade ex-dividend rights on the JSE
Tuesday, 14 June 2022
Shares will trade ex-dividend rights on the LSE
Thursday, 16 June 2022
Record date for payment on both JSE and LSE
Friday, 17 June 2022
Dividend payment date
Wednesday, 29 June 2022
No dematerialisation or rematerialisation of shares within
Strate will be permitted between Tuesday, 14 June 2022 and Friday,
17 June 2022, both days inclusive. No transfers between registers
will be permitted between Thursday, 26 May 2022 and Friday, 17 June
2022, both days inclusive.
Tax implications of the dividend
Shareholders and Depositary Interest holders should note that
information provided should not be regarded as tax advice.
Shareholders are advised that the dividend declared will be paid
out of income reserves and may therefore be subject to dividend
withholding tax depending on the tax residency of the
shareholder.
South African tax residents
South African shareholders are advised that the dividend
constitutes a foreign dividend. For individual South African tax
resident shareholders, dividend withholding tax of 20% will be
applied to the gross dividend of 47.30040 South African cents per
share. Therefore, the net dividend of 37.84032 South African cents
per share will be paid after 9.46008 South African cents in terms
of dividend withholding tax has been applied. Shareholders who are
South African tax resident companies are exempt from dividend tax
and will receive the dividend of 47.30040 South African cents per
share. This does not constitute legal or tax advice and is based on
taxation law and practice in South Africa. Shareholders should
consult their brokers, financial and/or tax advisors with regard to
how they will be impacted by the payment of the dividend.
UK tax residents
UK tax residents are advised that the dividend constitutes a
foreign dividend and that they should consult their brokers,
financial and/or tax advisors with regard to how they will be
impacted by the payment of the dividend.
Cyprus tax residents
Individual Cyprus tax residents are advised that the dividend
constitutes a local dividend and that they should consult their
brokers, financial and/or tax advisors with regard to how they will
be impacted by the payment of the dividend.
Additional information required by the JSE Listing
Requirements
Tharisa has a total of 299 388 187 ordinary shares in issue on
Thursday, 26 May 2022, of which
296 053 255 carry voting rights and are eligible to receive
dividends.
By order of the Board
Paphos, Cyprus
26 May 2022
DIRECTORS
Loucas Pouroulis (Executive Chairman)
Phoevos Pouroulis (Chief Executive Officer)
Michael Jones (Chief Finance Officer)
Carol Bell (Lead independent non-executive director)
David Salter (Independent non-executive director)
Antonios Djakouris (Independent non-executive director)
Omar Kamal (Independent non-executive director)
Roger Davey (Independent non-executive director)
Shelley Lo (Non-executive director)
Zhong Liang Hong (Non-executive director)
REGISTERED ADDRESS
Office 108 - 110, S. Pittokopitis Business Centre
17 Neophytou Nicolaides and Kilkis Streets
8011 Paphos, Cyprus
www.tharisa.com
GROUP COMPANY SECRETARY
Sanet Findlay
The Crossing, 372 Main Road
Bryanston, Johannesburg 2022
South Africa
Email: secretarial@tharisa.com
ASSISTANT COMPANY SECRETARY
Lysandros Lysandrides
26 Vyronos Avenue
1096 Nicosia
Cyprus
TRANSFER SECRETARIES
Computershare Investor Services Proprietary Limited, Cymain
Registrars Limited
JSE SPONSOR
Investec Bank Limited
Connect with us on LinkedIn and Twitter to get further news and
updates about our business.
Investor relations contacts:
Ilja Graulich (Head of Investor Relations and
Communications)
+27 11 996 3500
+27 83 604 0820
igraulich@tharisa.com
Financial PR contacts:
Bobby Morse / Ariadna Peretz / James Husband
+44 207 466 5000
tharisa@buchanan.uk.com
Broker contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / David McKeown / Alexander Allen
+44 207 7418 8900
BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Pascal Lussier Duquette / Nick Macann
+44 207 236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Jennifer Lee / Detlir Elezi
+44 203 207 7800
Nedbank Limited (acting through its Corporate and Investment
Banking division) (RSA Broker)
Carlyle Whittaker
+27 11 294 0061
About Tharisa
Tharisa is an integrated resource group critical to the energy
transition and decarbonisation of economies. It incorporates
mining, processing, exploration, and the beneficiation, marketing,
sales, and logistics of PGMs and chrome concentrates, using
innovation and technology as enablers. Its principal operating
asset is the Tharisa Mine located in the south-western limb of the
Bushveld Complex, South Africa. The mechanised mine has a 20-year
open-pit life and the ability to extend operations underground by
at least an additional 40 years. Tharisa also owns Karo Mining
Holdings and Salene Chrome, development stage, low-cost, open-pit
PGM and chrome assets respectively, located on the Great Dyke in
Zimbabwe. The Company is committed to reducing its carbon emissions
by 30% by 2030 and the development of a roadmap is continuing to be
net carbon neutral by 2050. Tharisa plc is listed on the
Johannesburg Stock Exchange (JSE: THA) and the Main Board of the
London Stock Exchange (LSE: THS).
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END
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