Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) told investors it will kick off a US$5 million share buyback programme.
The company said its shares are trading at a significant discount, and the repurchase supports capital discipline.
Peel Hunt will conduct the buybacks on the Johannesburg and London stock exchanges. The programme will start on 2 June, and may continue until the earliest of 18 February 2026, when the programme reaches full utilisation, or at the company’s option.
“We have maintained our strict capital discipline throughout the commodity cycles and believe it is opportune to allocate capital to a measured share repurchase programme to the benefit of our shareholders while providing for the multiple demands on our capital,” chief financial officer Michael Jones said in a statement.
The buyback programme was approved by shareholders at February’s Annual General Meeting.