Wrap Text
Reviewed Interim Results for the six months ended 31 March 2022 and dividend timetable and conversion rates
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
2.83 Mt 5PGE+Au PRODUCTION
up 14.6% 91.8 koz 776.7 kt
(2021: 2.47 Mt) Up 22.2% up 6.3%
(2021: 75.1 koz) (2021: 730.7 kt)
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 DIVIDEND
US$101.6 m EARNINGS PER SHARE US 3 c
Up 34.2% US 32.7 c and US 15.5 c
(2021: US$75.7 m) EPS up 52.8% and HEPS down
29.2%
(2021: US 21.4 c and US 21.9 c)
This short form announcement is the responsibility of the directors and is only a summary of the
information in the full announcement. The full announcement was released on SENS and RNS on
26 May 2022, and can be found on the Company’s website at www.tharisa.com and can also be
viewed here, https://senspdf.jse.co.za/documents/2022/jse/isse/tha/H1results.pdf. Copies of the
announcement may also be requested at the Company’s registered office, at no charge, during office
hours.
Any investment decision should be based on the full announcement published on SENS and RNS.
Ernst & Young Cyprus Limited has expressed an unmodified review opinion on the reviewed interim
condensed consolidated financial statements. That report is available on the Company’s website:
www.tharisa.com.
Dividend currency conversion rates and timetable
An interim dividend of US 3.0 cents per ordinary share has been declared. The interim dividend will be
paid on Wednesday, 29 June 2022 and will be paid from income reserves.
Shareholders on the principal Cyprus register will be paid in United States Dollar (USD), shareholders
whose shares are held through Central Securities Depositary Participants (CSDPs) and brokers and are
traded on the JSE will be paid in South African Rand (ZAR) and holders of Depositary Interests traded
on the LSE will be paid in Sterling (GBP). The currency equivalents of the dividend, based on the
weighted average of the South African Reserve Bank’s daily rate at approximately 10:30 (UTC +2) on
24 May 2022, being the currency conversion date, are as follows:
Exchange rate Dividend per share in payment currency
South Africa – JSE ZAR 15.76680/US$ 47.30040 South African cents per share
United Kingdom - LSE GBP 0.79681/US$ 2.39044 pence per share
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).
Date: 26-05-2022 07:05:00
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.
Sharenet Sites 
