Sharenet Sites 
Sharenet Sites
Dealings in Securities
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or “the Company”)
DEALINGS IN SECURITIES
A. Equity settlement of conditional shares
In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE
Limited (“the Listings Requirements”), we provide the following information
regarding the equity settlement of conditional shares by ARM to the
undermentioned Directors and Prescribed Officer of the Company, and the
undermentioned Directors of Two Rivers Platinum Proprietary Limited and ARM
Mining Consortium Limited, major subsidiaries of the Company. These awards
were made in terms of The African Rainbow Minerals Limited 2018 Conditional
Share Plan (the “Plan”) and on recommendation of the Remuneration Committee,
approved by ARM’s Board of Directors. The gross value of conditional shares
vested is based upon the closing ARM share price of R271.90 on 7 March 2022.
Conditional shares
Date of transaction 23 March 2022
Nature of transaction Equity settlement of conditional shares in
terms of The African Rainbow Minerals
Limited 2018 Conditional Share Plan by
means of on-market purchase of shares in
the market
Date of award 7 December 2018
Vesting date for settlement 8 March 2022
Class of securities Ordinary shares
Extent of interest Direct, beneficial
Name Designation Number of Gross value Number of Number of Value of
conditional of vested shares conditional conditional
shares shares at withheld shares shares
vested vesting to cover settled on a settled
date tax net of tax (R)
(before tax liability2 basis
liability)
(R)
PT Motsepe, Executive 321 710 87 472 949 N/A 321 710 86 442 287
Dr 1 Chairman
MP Schmidt Chief 254 384 69 167 009 118 826 135 558 36 423 933
Executive
Officer
HL Mkatshana Executive 91 284 24 820 119 42 640 48 644 13 070 463
Director
A Joubert Prescribed 104 345 28 371 405 48 741 55 604 14 940 589
Officer
NV Khumalo Director of 54 664 14 863 141 25 535 29 129 7 826 854
Two Rivers
Platinum
Proprietary
Limited, a
major
subsidiary of
ARM
BR Mashiane Director of 50 978 13 860 918 23 813 27 165 7 299 135
ARM Mining
Consortium
Limited, a
major
subsidiary of
ARM
PS Thwala Director of 52 287 14 216 835 24 424 27 863 7 486 685
ARM Mining
Consortium
Limited, a
major
subsidiary of
ARM
The calculation of the value of the conditional shares settled is based upon the
volume weighted average price of shares purchased in settlement, being R268.6963,
with a low of R253.18 per share and a high of R294.93 per share.
The requisite clearances and approvals for these transactions have been
obtained in compliance with the securities dealing policies and procedures of
ARM and paragraph 3.66 of the Listings Requirements.
1Dr PT Motsepe has elected to pay for the tax liability from his own resources.
2The number of shares withheld for tax is determined based on the 20-day
volume weighted average share price on the vesting date, i.e. 8 March 2022, in
accordance with the provisions of the Plan rules.
B. Transfer of shares
In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the
following information is provided regarding the election by the Executive
Chairman of ARM, Dr Patrice Motsepe, to transfer his shares acquired as
described in “A” above to African Rainbow Minerals & Exploration Investments
Proprietary Limited (“ARMI”). The shares of ARMI are indirectly held and
beneficially owned by trusts, which trusts, with the exception of The Motsepe
Foundation, hold those shares for the benefit of Dr Patrice Motsepe and his
immediate family. The Motsepe Foundation applies the benefits emanating from
its indirect shareholding in ARMI for philanthropic purposes.
Date of transaction 23 March 2022
Nature of transaction Off-market transfer of shares to ARMI
with beneficial ownership as described
above
Deemed price of securities Volume weighted average price of shares
transferred purchased in settlement, being R268.6963,
with a low of R253.18 per share and a high
of R294.93 per share.
Class of securities Ordinary shares
Nature of interest Indirect, beneficial
Clearance to deal Yes
Name Designation Number of Ordinary Total value
shares transferred (before tax
liability) of
shares
transferred
(R)
PT Motsepe, Dr Executive Chairman 321 710 86 442 287
The calculation of the value of the shares transferred is based upon the volume
weighted average price of shares purchased in settlement, being R268.6963, with a
low of R253.18 per share and a high of R294.93 per share.
The requisite clearances and approvals for this transaction have been obtained
in compliance with the securities dealing policies and procedures of ARM and
paragraph 3.66 of the Listings Requirements.
Sandton
24 March 2022
Sponsor to ARM:
Investec Bank Limited
Date: 24-03-2022 05:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
