TIDMTHS
RNS Number : 9454Z
Tharisa PLC
19 May 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')
REVIEWED INTERIM RESULTS FOR THE SIX MONTHSED 31 MARCH 2023 AND
DIVID 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 Tharisa Mine located in the south western
limb of the Bushveld Complex, South Africa and also owning Karo
Mining Holdings a development stage PGM asset, located on the Great
Dyke in Zimbabwe, has released its interim results for the six
months ended 31 March 2023.
REEF MINED PGM PRODUCTION (6E) CHROME CONCENTRATE PRODUCTION
2.1 Mt 77.0 koz 787.9 kt
down 25.6% down 16.1% up 1.4%
stripping ratio of recovery of 67.0% recovery of 66.2%
11.5 m(3) :m(3) (HY2022: 91.8 koz) (HY2022: 776.7 kt)
(HY2022: 2.8 Mt)
REVENUE OPERATING PROFIT EBITDA
US$335.3 m US$63.5 m US$81.2 m
up 0.4% down 29.0% down 27.0%
(HY2022: US$334.0 (HY2022: US$89.4 m) (HY2022: US$111.3 m)
m)
PROFIT BEFORE TAX NET CASH - OPERATING CASH AND CASH EQUIVALENTS
US$72.4 m ACTIVITIES US$205.7 m
down 41.8% US$97.1 m up 102.7%
(HY2022: US$124.3 up 97.8% (HY2022: US$101.5 m)
m) (HY2022: US$49.1 m)
EARNINGS PER SHARE HEADLINE EARNINGS INTERIM DIVID
US 17.4 cents PER SHARE US 3 cents
down 46.8% US 17.6 cents (HY2022: US 3 cents)
(HY2022: US 32.7 cents) up 13.5% 16.4% of NPAT
(HY2022: US 15.5 cents)
This short form announcement is the responsibility of the
directors and is only a summary of the information in the full
announcement. The full announcement was released on SENS and RNS on
19 May 2023, and can be found on the Company's website at
www.tharisa.com and can also be viewed here,
https://senspdf.jse.co.za/documents/2023/jse/isse/THA/H1results.pdf
. Copies of the announcement may also be requested at the Company's
registered office, at no charge, during office hours.
Any investment decision should be based on the full announcement
published on SENS and RNS.
Ernst & Young Cyprus Limited has expressed an unmodified
review opinion on the reviewed interim condensed consolidated
financial statements. That report is available on the Company's
website: www.tharisa.com .
Dividend currency conversion rates and timetable
An interim dividend of US 3.0 cents per ordinary share has been
declared. The interim dividend will be paid on Wednesday, 21 June
2023 and will be paid from income reserves.
Shareholders on the principal Cyprus register will be paid in
United States Dollar (US$), 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
18 May 2023, being the currency conversion date, are as
follows:
Exchange rate Dividend per share in payment
currency
--------------- ------------------ ------------------------------
South Africa - ZAR19.45320 / US$ 58.35960 South African cents
JSE per share
United Kingdom GBP0.80463 / US$ 2.41390 pence per share
- LSE
The timetable for the dividend declaration is as follows:
Currency conversion date Thursday, 18 May
2023
Declaration date and currency conversion Friday, 19 May 2023
rates announced
Last day to trade cum-dividend rights on Tuesday, 6 June 2023
the JSE
Last day to trade cum-dividend rights on Wednesday, 7 June
the LSE 2023
Shares will trade ex-dividend rights on Wednesday, 7 June
the JSE 2023
Shares will trade ex-dividend rights on Thursday, 8 June
the LSE 2023
Record date for payment on both JSE and Friday, 9 June 2023
LSE
Dividend payment date Wednesday, 21 June
2023
No dematerialisation or rematerialisation of shares within
Strate will be permitted between Tuesday, 6 June 2023 and Friday, 9
June 2023, both days inclusive. No transfers between registers will
be permitted between Thursday, 18 May 2023 and Friday, 9 June 2023,
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 58.35960 South African cents per
share. Therefore, the net dividend of 46.68768 South African cents
per share will be paid after 11.67192 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 58.35960 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 302 596 743 ordinary shares in issue on
Friday, 19 May 2023, of which
299 746 365 carry voting rights and are eligible to receive
dividends.
By order of the Board
Paphos, Cyprus
19 May 2023
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 / Oonagh Reidy
+44 207 466 5000
tharisa@buchanan.uk.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
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 an 18 year
open pit life and the ability to extend operations underground by
at least an additional 40 years. Tharisa also owns Karo Mining
Holdings a development stage, 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 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
IR UWVVROWUVAAR
(END) Dow Jones Newswires
May 19, 2023 02:00 ET (06:00 GMT)
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