AFRICAN RAINBOW MINERALS LIMITED - Dealings in securities by Directors

Dealings in securities by Directors

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 by Directors


  A. Director dealing in ARM securities

In compliance with paragraphs 3.63 – 3.66 of the Listings Requirements
of the JSE Limited (the “Listing Requirements”), we hereby provide the
following information regarding dealings in ARM securities by a
director of a major subsidiary of the Company:

Name of director              Nicholus Vusimuzi Khumalo
Category of director          Director of a major subsidiary
Date of transaction           7 May 2020
Nature of transaction         On-market sale of shares
Class of securities           Ordinary shares
Number of securities          25 000
Selling price of securities   Volume   weighted    average   price of
                              R132.9047 per share (with a low of
                              R131.53 per share and a high of R135.14
                              per share)
Total value of transaction    R3 322 617.50
Nature of interest            Direct, beneficial

The requisite clearances and approvals for this transaction has been
obtained in compliance with the securities dealing policies and
procedures of ARM and paragraph 3.66 of the Listings Requirements.


  B. Award and acceptance of conditional shares

In terms of paragraphs 3.63 – 3.66 of the Listings Requirements, we
provide the following information regarding the award and acceptance of
conditional shares by the undermentioned executive director of the
Company:

Conditional Shares
Acceptance date                  11 May 2020
Nature of transaction            Off-market awards and acceptance of
                                 conditional    shares in terms of The
                                 African Rainbow Minerals Limited 2018
                                 Conditional Share Plan
Vesting date for settlement      12 May 2023
Class of securities              Ordinary shares
Extent of interest               Direct, beneficial

Name           Designation                   Number of           Value of
                                           conditional              award
                                               shares*                R**
J Magagula     Executive Director               16 445         R2 025 366

* The vesting of the conditional shares is conditional on pre-
determined performance conditions and continued employment by ARM and
where applicable, the reasons for the cessation of such employment.

** The calculation of the value of these awards is based upon the
volume weighted average ARM share price for the 20 trading days ended 8
May 2020, which was R123.16.

The requisite clearances and approvals for this transaction has been
obtained in compliance with the securities dealing policies and
procedures of ARM and paragraph 3.66 of the Listings Requirements. The
Board of Directors of ARM, on the recommendation of the Remuneration
Committee, approved the award of the conditional shares as set out
above.


Sandton
11 May 2020

Sponsor to ARM:
Investec Bank Limited

Date: 11-05-2020 05:50:00
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