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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tharisa Plc | LSE:THS | London | Ordinary Share | CY0103562118 | ORD USD0.001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.00 | 1.43% | 71.00 | 70.00 | 72.00 | 71.00 | 70.00 | 70.00 | 171,366 | 10:05:58 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 649.89M | 82.24M | 0.2743 | 2.59 | 212.85M |
TIDMTHS
RNS Number : 6887W
Tharisa PLC
14 December 2023
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')
AUDITED ANNUAL RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 AND CASH DIVIDEND DECLARATION
Tharisa is an integrated resource group critical to the energy transition and decarbonisation of economies. It incorporates exploration, mining, processing 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 mine has a 13-year open pit life and is strategically advancing the vast mechanised underground resource which extends for over 60 years. Tharisa is developing Karo Platinum, a low-cost, open-pit PGM asset 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 to become net carbon neutral by 2050. As part of this energy transition, the 40MW solar project adjacent to the Tharisa Mine is well advanced. Redox One, a wholly owned subsidiary, is accelerating the development of proprietary iron chromium redox flow long duration battery storage utilising the commodities we mine. Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the Main Board of the London Stock Exchange (LSE: THS).
REEF MINED
4.2 Mt
(2022: 5.5 Mt)
-23.6%
PGM PRODUCTION (5PGE + AU)
144.7 koz
(2022: 179.2 koz)
-19.3%
CHROME CONCENTRATE PRODUCTION
1.58 Mt
(2022: 1.58 Mt)
REVENUE
US$649.9 m
(2022: US$686.0 m)
-5.3%
OPERATING PROFIT
US$94.7 m
(2022: US$184.5 m)
-48.7%
EBITDA
US$136.8 m
(2022: US$237.3 m)
-42.4%
PROFIT BEFORE TAX
US$114.3 m
(2022: US$220.2 m)
-48.1%
EARNINGS PER SHARE
US 27.4 cents
(2022: US 53.8 cents)
-49.1%
HEADLINE EARNINGS PER SHARE
US 28.3 cents
(2022: US 41.1 cents)
-31.1%
ROIC
10.5%
(2022: 23.5%)
-55.3%
TOTAL DIVIDEND
US 5.0 cents
(2022: US 7.0 cents)
Declaration of dividend
Shareholders are advised that the board has resolved to propose a final gross cash dividend of US 2.0 cents per ordinary share for the financial year ended 30 September 2023, such dividend being payable to shareholders registered on the register of members of Tharisa as of the close of business on the record date, being 1 March 2024. If approved by shareholders, the recommended dividend will be paid on Wednesday 13 March 2024.
Shareholders on the principal Cyprus register will be paid in US dollars, 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 will be based on the weighted average of the South African Reserve Bank's daily rate at approximately 10:30 (UTC +2) on
14 December 2023, being the currency conversion date.
Tharisa has a total of 302 596 743 ordinary shares in issue on 14 December 2023, of which 300 019 694 carry voting rights and are eligible to receive dividends.
Timetable
The timetable for the dividend declaration is as follows:
Declaration and currency conversion Thursday, 14 December date 2023 Currency conversion rates announced Thursday, 22 February 2024 Last day to trade cum-dividend rights Tuesday, 27 February on the JSE 2024 Last day to trade cum-dividend rights Wednesday, 28 February on the LSE 2024 Shares will trade ex-dividend rights Wednesday, 28 February on the JSE from 2024 Shares will trade ex-dividend rights Thursday, 29 February on the LSE from 2024 Record date for payment on both JSE Friday, 1 March 2024 and LSE Dividend payment date Wednesday, 13 March 2024
No dematerialisation or rematerialisation of shares within Strate will be permitted between Wednesday, 28 February 2024 and Friday, 1 March 2024, both days inclusive. No transfers between registers will be permitted between Thursday, 22 February 2024 and Friday, 1 March 2024, 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 US 2.0 cents per share. Shareholders who are South African tax resident companies are exempt from dividend tax and will receive the dividend of US 2.0 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 advisers 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 advisers 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 advisers with regard to how they will be impacted by the payment of the dividend.
The full announcement was released on SENS and RNS on 14 December 2023, 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/2023/jse/isse/THA/FYresults.pdf .
Any investment decision should be based on the full announcement published on SENS and RNS.
Ernst & Young Cyprus Limited has expressed an unmodified audit opinion in the Independent Auditor's Report dated 13 December 2023 on the audited consolidated financial statements which are included in the full results.
By order of the Board
P Pouroulis Chief Executive Officer MG Jones Chief Finance Officer
14 December 2023
DIRECTORS
Loucas Pouroulis (Executive Chairman)
Phoevos Pouroulis (Chief Executive Officer)
Michael Jones (Chief Finance Officer)
Carol Bell (Lead Independent 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 Wai Man Lo (Non-executive director)
Hao Chen (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
31 Evagoras Ave
6(th) Floor Evagoras House
1066 Nicosia
Cyprus
TRANSFER SECRETARIES
Computershare Investor Services Proprietary Limited, Cymain Registrars Limited
Paphos , Cyprus
14 December 2023
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
Broker Contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / Georgia Langoulant
+44 207 7418 8900
BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Nick Macann
+44 207 236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Jennifer Lee / Detlir Elezi
+44 203 207 7800
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
ACSFLFFEFTLVLIV
(END) Dow Jones Newswires
December 14, 2023 02:00 ET (07:00 GMT)
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