2024

Merafe Resources Limited
Integrated Annual Report

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Shareholder information
for the year ended 31 December 2024

1. Shareholder analysis
 

for the year ended at 31 December 2024:

Ordinary shares Number of
shareholders		 % of
shareholders		 Number of
shares		 % of issued
shares
Public shareholders 15 914 99.99 2 495 573 305 99.86
Non-public shareholders 2 0.013 3 553 565 0.14
15 916 100 2 499 126 870 100
Where non-public shareholders consist of:
Directors and Associates of the Company 2 0.013 3 553 565 0.14
 
Shareholder spread Number of
shareholders		 % of
shareholders		 Number of
shares		 % of issued
shares
1 – 1 000 shares 8 513 53.49 1 675 250 0.07
1 001 – 10 000 shares 3 829 24.06 16 299 699 0.65
10 001 – 100 000 shares 2 624 16.49 96 700 651 3.87
100 001 – 1 000 000 shares 802 5.04 238 005 922 9.52
1 000 001 – 10 000 000 shares 121 0.76 356 434 387 14.26
10 000 001 shares and over 27 0.17 1 790 010 961 71.63
15 916 100 2 499 126 870 100
 
Distribution of shareholders Number of
shareholders		 % of
shareholders		 Number of
shares		 % of issued
shares
Banks/Brokers 60 0.38 240 787 441 9.63
Close Corporations 87 0.55 32 997 992 1.32
Endowment Funds 13 0.08 3 559 898 0.14
Government 1 0.01 546 830 100 21.88
Individuals 14 979 94.11 354 134 876 14.17
Insurance Companies 12 0.08 5 654 644 0.23
Medical Schemes 2 0.01 2 025 157 0.08
Mutual Funds 49 0.31 293 204 383 11.73
Other Corporations 62 0.39 767 332 0.03
Private Companies 267 1.68 179 545 116 7.18
Private Equity 1 0.01 3 682 280 0.15
Public Companies 1 0.01 50 000 0.00
Retirement Funds 84 0.53 78 302 654 3.13
Strategic Investor 1 0.01 720 163 887 28.82
Trusts 297 1.87 37 421 110 1.50
15 916 100 2 499 126 870 100
2. Major shareholders
 

Beneficial shareholders holding 5% or more:

Number
of shares		 % of
shares held
Glencore Netherlands B.V. 720 163 887 28.82
Industrial Development Corporation of South Africa Limited 546 830 100 21.88
3. Geographical ownership
 
Distribution of local and foreign beneficial shareholding (%) Number
of shares		 % of
shares held
South African 1 475 763 165 59.05
Foreign 1 023 363 705 40.95
   
 

JSE share performance
 
2024 2023
Market capitalisation as at 31 December 3 498 777 618 3 248 864 931
Share price (cents)
High 161 145
Low 120 104
Closing 140 130
Shares traded
Volume of shares traded 493 780 955 327 834 705
Value of shares (ZAR) 707 898 670 417 726 619
Volume of shares traded as a percentage of weighted average of shares in issue (%) 20 13
Shares in issue as at 31 December 2 499 126 870 2 499 126 870

20th anniversary

The Glencore-Merafe Chrome Venture
was established in 2004 and, during the
year under review, we celebrated its 20th
anniversary.

Shareholder diary

Financial year end 31 December 2024
Annual general meeting Tuesday, 13 May 2025

Reports

Interim results for the six months to 30 June 2025 to be released in August 2025.
Annual results for the twelve months to 31 December 2025 to be released and published in March 2026.

The Merafe Resources Limited Summarised Consolidated Financial Statements and notice of annual general meeting for the year ended 31 December 2024 will be posted to shareholders on 8 April 2025 and a copy will be available on the Merafe website.