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Vesting of shares awarded to directors and directors of major subsidiaries and subsequent disposal of shares
HULAMIN LIMITED
Incorporated in the Republic of South Africa
(Registration number 1940/013924/06)
ISIN: ZAE000096210
JSE Code: HLM
("Hulamin" or the "Company")
VESTING OF SHARES AWARDED TO DIRECTORS AND DIRECTORS OF MAJOR
SUBSIDIARIES IN TERMS OF THE SHARE PLAN AND BEE SCHEME AND SUBSEQUENT
DISPOSAL OF SHARES
Shareholders are referred to the announcements published by the Company on SENS on 19 December
2022 and 4 April 2023 wherein they were advised that Hulamin had granted awards of Bonus Shares
("Bonus Awards") in terms of its Equity-Settled Conditional Share Plan ("Share Plan").
In addition, Shareholders are referred to the announcement released on SENS on 27 March 2026,
relating, inter alia, to the conversion of the A3 ordinary shares ("A3 Shares") that were issued in relation
to the Company's Black Economic Empowerment Scheme ("BEE Scheme") to ordinary shares. The
Company's memorandum of incorporation ("MOI") was amended to create the A3 Shares as part of the
extension of the BEE Scheme in 2020. In terms of the MOI, the A3 Shares were renamed as "ordinary
shares" on 27 February 2026.
Accordingly, shareholders are notified of the details of the vesting of the following Awards and A3
Shares, and the subsequent on-market disposal or partial disposal of those shares by directors of
Hulamin and directors of major subsidiaries, as set out below.
Name of recipient: M Gounder – Executive Director
Name of company: Hulamin Limited
Type of interest: Direct beneficial
Clearance to deal obtained: Yes
Trade 1:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market disposal of those shares
Date of Bonus Award: 13 December 2022
Date of vesting of Bonus Award: 25 April 2026
Number of Bonus Shares vested: 135 976
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R259 714.16
Number of Bonus Shares disposed of: 135 976
Date of delivery and disposal: 9 June 2026
Price per share: R1.74
Total value of Bonus Shares disposed of on-
market: R237 101.35
Trade 2:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market disposal of those shares
Date of Bonus Award: 27 March 2023
Date of vesting of Bonus Award: 25 April 2026
Number of Bonus Shares vested: 82 357
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R157 301.87
Number of Bonus Shares disposed of: 82 357
Date of delivery and disposal: 9 June 2026
Price per share: R1.74
Total value of Bonus Shares disposed of on-
market: R143 605.90
Trade 3:
Nature of transaction: Off-market delivery of A3 Shares awarded in terms
of the BEE Scheme, subsequent conversion to
ordinary shares and the subsequent on-market
disposal of those shares
Date of A3 Share award: 1 December 2021
Date of vesting of A3 Share award: 25 April 2026
Number of ordinary shares vested: 18 442
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R32 224.22
Number of ordinary shares disposed of: 18 442
Date of delivery and disposal: 9 June 2026
Price per share: R1.74
Total value of ordinary shares disposed of
on-market: R32 157.32
Name of recipient: P Nirghin – Executive Director
Name of company: Hulamin Limited
Type of interest: Direct beneficial
Clearance to deal obtained: Yes
Trade 1:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market partial disposal of those shares
Date of Bonus Award: 27 March 2023
Date of vesting of Bonus Award: 25 April 2026
Date of delivery of Bonus Award: 9 June 2026
Number of Bonus Shares vested: 24 843
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R47 450.13
Number of Bonus Shares disposed of: 11 552
Date of disposal: 9 June 2026
Price per share: R1.74
Total value of Bonus Shares disposed of on-
market: R20 143.22
Trade 2:
Nature of transaction: Off-market delivery of A3 Shares awarded in terms
of the BEE Scheme, subsequent conversion to
ordinary shares and the subsequent partial on-
market disposal of those shares
Date of A3 Share award: 1 December 2021
Date of vesting of A3 Share award: 25 April 2026
Date of delivery of ordinary shares: 9 June 2026
Number of ordinary shares vested: 16 463
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R31 444.33
Number of ordinary shares disposed of: 7 655
Date of disposal: 9 June 2026
Price per share: R1.74
Total value of ordinary shares disposed of
on-market: R13 348.02
Name of recipient: KP Deere – Director of major subsidiary
Name of company: Hulamin Operations Proprietary Limited
Type of interest: Direct beneficial
Clearance to deal obtained: Yes
Trade 1:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market partial disposal of those shares
Date of Bonus Award: 13 December 2022
Date of vesting of Bonus Award: 25 April 2026
Date of delivery of Bonus Award: 9 June 2026
Number of Bonus Shares vested: 41 977
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R80 176.07
Number of Bonus Shares disposed of: 19 519
Date of disposal: 9 June 2026
Price per share: R1.74
Total value of Bonus Shares disposed of on-
market: R34 035.28
Trade 2:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market partial disposal of those shares
Date of Bonus Award: 27 March 2023
Date of vesting of Bonus Award: 25 April 2026
Date of delivery of Bonus Award: 9 June 2026
Number of Bonus Shares vested: 55 654
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R106 299.14
Number of Bonus Shares disposed of: 25 879
Date of disposal: 9 June 2026
Price per share: R1.74
Total value of Bonus Shares disposed of on-
market: R45 125.21
Name of recipient: Z Gumede – Director of major subsidiary
Name of company: Hulamin Operations Proprietary Limited
Type of interest: Direct beneficial
Clearance to deal obtained: Yes
Trade 1:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market disposal of those shares
Date of Bonus Award: 13 December 2022
Date of vesting of Bonus Award: 25 April 2026
Number of Bonus Shares vested: 112 336
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R214 561.76
Number of Bonus Shares disposed of: 112 336
Date of delivery and disposal: 29 April 2026
Price per share: R1.90
Total value of Bonus Shares disposed of on-
market: R213 708.01
Trade 2:
Nature of transaction: Off-market delivery of Bonus Shares awarded in
terms of the Share Plan and the subsequent on-
market disposal of those shares
Date of Bonus Award: 27 March 2023
Date of vesting of Bonus Award: 25 April 2026
Number of Bonus Shares vested: 65 190
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R124 512.90
Number of Bonus Shares disposed of: 65 190
Date of delivery and disposal: 29 April 2026
Price per share: R1.90
Total value of Bonus Shares disposed of on-
market: R124 017.46
Trade 3:
Nature of transaction: Off-market delivery of A3 Shares awarded in terms
of the BEE Scheme, subsequent conversion to
ordinary shares and the subsequent on-market
disposal of those shares
Date of A3 Share award: 1 December 2021
Date of vesting of A3 Share award: 25 April 2026
Number of ordinary shares vested: 14 728
Issue price: Rnil (Free of charge)
Notional value of transaction (based on an
implied price of R1.91 per Hulamin share,
being the closing price on the date
immediately preceding the date of vesting): R28 130.48
Number of ordinary shares disposed of: 14 728
Date of delivery and disposal: 22 May 2026
Price per share: R1.78
Total value of ordinary shares disposed of
on-market: R26 171.66
Pietermaritzburg
12 June 2026
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 12-06-2026 02:45:00
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