COMBINED MOTOR HOLDINGS LIMITED - Dealing in securities through share appreciation scheme

Dealing in securities through share appreciation scheme

Combined Motor Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1965/000270/06)
Share code: CMH     ISIN: ZAE000088050
(“the Company”)

DEALING IN SECURITIES THROUGH SHARE APPRECIATION RIGHTS

In compliance with the requirements of paragraphs 3.63 to 3.74
of the JSE Limited Listings Requirements, the following grants
and acceptances of equity-settled share appreciation rights
(“SARs”) in terms of the Company´s Share Appreciation Rights
Scheme 2010, should be noted:

COMBINED MOTOR HOLDINGS LIMITED

Executive director:          Bruce William John Barritt
Date of grant:               1 June 2019
Date of acceptance:          14 June 2019
Number of SARs:              100 000
Grant price:                 R21.77
Vesting date:                1/3 - 1 June 2022
                             1/3 - 1 June 2023
                             1/3 - 1 June 2024
Lapse date:                  6 months after vesting
Performance criteria:        Achievement of agreed earnings
                             per share targets over the
                             vesting period
Extent of interest:          Direct beneficial


Company secretary:           Kerrianne Fonseca
Date of grant:               1 June 2019
Date of acceptance:          14 June 2019
Number of SARs:              40 000
Grant price:                 R21.77
Vesting date:                1/3 - 1 June 2022
                             1/3 - 1 June 2023
                             1/3 - 1 June 2024
Lapse date:                  6 months after vesting
Performance criteria:        Achievement of agreed earnings
                             per share targets over the
                             vesting period
Extent of interest:          Direct beneficial


Name of major subsidiary:    Kempster Sedgwick Proprietary
                             Limited

Director of major subsidiary: Steven Leslie Atkinson
Date of grant:                1 June 2019
Date of acceptance:          14 June 2019
Number of SARs:              100 000
Grant price:                 R21.77
Vesting date:                1/3 - 1 June 2022
                             1/3 - 1 June 2023
                             1/3 - 1 June 2024
Lapse date:                  6 months after vesting
Performance criteria:        Achievement of agreed earnings
                             per share targets over the
                             vesting period
Extent of interest:          Direct beneficial



A value cannot be attributed to the SARS until the vesting
dates.

Pre-clearance for these transactions was provided by SK
Jackson.

All the aforementioned were off-market transactions.

Durban
18 June 2019

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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