Wrap Text
Tharisa launches Level 1 American Depositary Receipt Programme
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
ADR code: THARY
LEI: 213800WW4YWMVVZIJM90
('Tharisa' or the 'Company')
THARISA LAUNCHES LEVEL 1 AMERICAN DEPOSITARY RECEIPT PROGRAMME
Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock
exchanges, has completed the establishment of a Level 1 American Depositary Receipt (ADR) programme
(the Programme), with J.P. Morgan appointed as the depositary bank.
The Programme is effective from 8 June 2026 under the ticker symbol THARY.
The ADR Programme will enable US-based investors to gain exposure to Tharisa through USD denominated
ADRs trading in the United States of America (USA) over-the-counter (OTC) market. Each Tharisa ADR will
represent ten ordinary shares of the Company. The underlying ordinary shares will continue to trade on the
Johannesburg Stock Exchange (JSE: THA) and the London Stock Exchange (LSE: THS).
STRATEGIC RATIONALE
The ADR Programme is part of Tharisa's broader strategy to enhance accessibility of its securities to
international investors, with a particular focus on the USA where interest in critical and strategic minerals
continues to grow. Platinum group metals (PGMs) and chrome as the core commodities mined by Tharisa,
are recognised as critical minerals in the USA and other major economies, and as such attract increasing
attention from investors seeking exposure to the energy transition, clean air technologies and future facing
technologies including AI.
Phoevos Pouroulis, CEO of Tharisa, commented:
'The establishment of our ADR programme marks a meaningful step in broadening Tharisa's global investor
reach. The United States is an attractive jurisdiction, and we are seeing significant interest in critical and
strategic minerals, the very commodities at the heart of our business. All of the commodities we mine fall into
both categories, and this programme gives US investors a simple, accessible and familiar mechanism through
which to access our equity story. It is consistent with our strategy of enhancing optionality, improving liquidity
and reaching the widest possible pool of institutional and retail investors who recognise the value of what we
are building at Tharisa.'
IMPACT ON SHAREHOLDERS
The Programme has been registered with the United States Securities and Exchange Commission (SEC). As a
Level 1 programme the Company is exempt from the ongoing registration and reporting requirements of the
United States Securities Exchange Act of 1934, as amended. The establishment of the Programme does not
affect the rights or entitlements of existing shareholders. No new ordinary shares are being issued and there
is no dilution of existing shareholdings as a result of the Programme. Existing shareholders on the JSE and LSE
registers are not required to take any action in connection with this announcement.
Paphos, Cyprus
8 June 2026
JSE Sponsor
Investec Bank Limited
Connect with us on LinkedIn to get further news and updates about our business or visit our Curation Corp Showcase.
Investor Relations Contacts:
Ilja Graulich (Head of Investor Relations and Communications)
+27 11 996 3500
+27 83 604 0820
igraulich@tharisa.com
Broker Contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / Georgia Langoulant
+44 207 418 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
About Tharisa – delivering on expansion and growth opportunities, commercialising technology solutions
Tharisa is an integrated resource group playing a pivotal role in the global energy transition and the
decarbonisation of economies. Leveraging innovation and technology, Tharisa covers the entire value chain
– exploration, mining, processing, beneficiation, marketing, sales, and logistics – for PGMs and chrome
concentrates. The low cost, multigenerational Tharisa Mine is located on the southwestern limb of the
Bushveld Complex, South Africa, the largest source of PGMs and chrome globally. Development of the Karo
Platinum Project, a tier-one PGM project on Zimbabwe's Great Dyke, further reinforces Tharisa's growth
strategy. Investments in downstream beneficiation, including proven chrome and PGM alloy production, will
add significant value when commercialised. Tharisa is committed to reducing carbon emissions by 30% by
2030 and the sustainability roadmap targets net carbon neutrality by 2050. Through Redox One, Tharisa is
advancing proprietary iron-chromium redox flow battery technology, utilising the very commodities it mines
to support long-duration energy storage – a key component in the transition to renewable energy.
Tharisa plc is listed on the Johannesburg Stock Exchange (JSE: THA) and the London Stock Exchange (LSE: THS,
Equity Shares (Transition) Category) and trades under THARY as a Level 1 American Depositary Receipt.
Date: 08-06-2026 10:30:00
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