Johannesburg, Kumba Iron Ore Limited has reported an on-market sale of securities by its major subsidiary, Sishen Iron Ore Company Proprietary Limited, as part of its compliance with the Listings Requirements of the Johannesburg Stock Exchange. The transaction, which took place on 14 March 2024, involved the sale of 848 ordinary shares at a price of R446.9300 each, totaling R378,996.64.

This sale was conducted under the terms of Kumba Iron Ore's Bonus and Retention Share Plan (BRP), specifically according to rule 8.5.4.3.1 of the BRP, which was amended and approved by shareholders at the Annual General Meeting on 10 May 2019. The shares sold were forfeited by participants of the BRP upon their termination of employment before the shares had vested.

The transaction represents a direct beneficial interest for the subsidiary, with all necessary clearances obtained prior to the sale. The disposal of these forfeited shares underscores Kumba Iron Ore's adherence to its shareholder-approved plans and its commitment to transparent and regulated dealings in the securities market.