UNLOCK THE STOCK
Investing in turbulent and uncertain times
June 2022
WHY NOW, WHY THARISA
CORPORATE PROFILE (THS:LSE THA:JSE)
CAPITAL STRUCTURE
Issued shares | 299.2 million | |
Market capitalisation* | GBP344.5m • ZAR6.6bn | |
Avg daily volume ('000) * | 131(LSE) 87(JSE) (1 year trailing) | |
Net cash** | US$26.9 million | |
Debt** | US$74.3 million | |
Ore reserves (PGMs) *** | 40.3 Moz in contained 6PGE+AU | |
Ore reserves (Chrome) *** | 171.1 Mt in contained Cr O | 3 |
2 | ||
DIRECTORS OF THARISA
- Loucas Christos Pouroulis (Executive Chairman)
- Phoevos Pouroulis (Chief Executive Officer)
- Michael Gifford Jones (Chief Finance Officer)
- Carol Bell (Lead independent non-executive director)
- Roger Davey (Independent non-executive director)
- Antonios Djakouris (Independent non-executive director)
- Omar Marwan Kamal (Independent non-executive director)
- John David Salter (Independent non-executive director)
- Shelley Lo Chu (Non-executive director)
- Zhong Liang Hong (Non-executive director)
- Sanet Findlay (Group Company Secretary)
- Lysandros Lysandrides (Assistant Company Secretary)
SHAREHOLDER SPREAD
1.17 | 2.01 |
1.48 | |
1.71 | Strategic Investors |
1.80 | |
2.23 | Mutual Fund Manager |
2.98 | Corporate |
3.62 | |
Investment Adviser | |
5.86 | Private Investor |
Company Related | |
Holdings | |
Pension Fund Manager | |
Hedge Fund Manager | |
62.03 |
SHARE PRICE | ANALYST COVERAGE |
Berenberg | Richard Hatch |
BMO | Raj Ray |
Investec | Nkateko Mathonsi |
Nedbank CIB | Arnold van Graan |
Noah Capital | Rene Hochreiter |
Peel Hunt | Peter Mallin-Jones |
Tamesis | David Butler |
*data correct as at 29 June 2022, ** data correct as 31 March 2022, ***Mineral Resource and Mineral Reserve Statement in 2021 annual report
MAJOR SHAREHOLDERS
1 | Medway Developments Limited | 41.2% |
2 | Rance Holdings Ltd. | 12.8% |
3 | Fujian Wuhang Stainless Steel Products Co. Ltd. | 9.0% |
4 | Thari Resources | 3.5% |
5 | Maaden Invest Ltd. | 3.5% |
6 | Miton Asset Management Ltd. | 3.2% |
7 | FIL Investment Advisors (UK) Ltd. | 2.7% |
8 | PIC | 1.7% |
9 | Community Trust | 1.0% |
69.7% |
3
INVESTMENT CASE
- Global economy under pressure:
- Global conflict
Inflationary pressures
- Supply chain
- Political and social uncertainty
Energy crisis
PRICE HAS CHANGED BUT VALUE REMAINS*
P/E - 4.0 | NAV - 0.7 |
RELATIVE VALUE | ABSOLUTE VALUE |
DIV YIELD - 4.9% | EV/EBITDA - 2.1 |
SHAREHOLDER VALUE | FINANCIAL VALUE |
INVESTOR PERCEPTION = PERCEIVED VALUE
*Analysts consensus
4
OUR VALUES
SAFETY & HEALTH
ENVIRONMENT
CLIMATE CHANGE
UPLIFTMENT
INTEGROUS
RETURNS
INNOVATION
The safety and health of our people is a core value
We take responsibility for the effect that our operations may have on the environment
We are committed to reducing carbon emissions by 30% by 2030 and have a plan in motion to be net carbon neutral by 2050
We are committed to the upliftment of our local communities
We conduct ourselves with integrity and honesty
We strive to achieve superior returns for our shareholders
We originate new opportunities and will continue to challenge convention through innovation
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Tharisa plc published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 11:02:10 UTC.