AFRIMAT LIMITED - Directors' Dealings

Directors' Dealings

Afrimat Limited
Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT ISIN: ZAE000086302
(“Afrimat” or “the Company”)


DIRECTORS’ DEALINGS


In compliance with paragraphs 3.63 – 3.74 of the Listings Requirements of the JSE Limited, the
information below is disclosed.


Name of director:                 Francois M Louw
Date of transaction:              1 August 2019
Price per share:                  3450 cents
Number of shares:                 250 000
Total value:                      R8 625 000
Class of securities:              Ordinary shares
Nature of transaction:            Sale (On market transaction)
Nature of interest:               Direct Beneficial
Clearance to deal obtained:       Yes


The shares were sold as part of a strategy to diversify Mr. Louw’s personal investment portfolio.


Afrimat Share Appreciation Rights scheme
Afrimat’s senior management are participants of the Afrimat Share Appreciation Rights scheme grant 11
(grant date 18 May 2016). The earliest vesting date of this grant was 17 May 2019, subject thereto that
minimum profit growth targets were achieved during the three-year vesting period. The minimum growth
targets were exceeded and the participants may now exercise their rights.


Rights exercised
Director 1 - Purchase
Name of Director:                 Andries van Heerden (CEO of Afrimat Limited)
Class of securities:              Ordinary shares
Nature of transaction:            Receipt of shares as settlement of vested rights in the Afrimat Share
                                  Appreciation Rights scheme (Off market transaction)
Date of transaction:              31 July 2019
Price per share:                  R35.04
Number of shares:              65 959
Total value:                   R2 311 203
Nature of interest:            Direct beneficial
Clearance to deal obtained:    Yes


Director 1 - Sale
Name of Director:              Andries van Heerden (CEO of Afrimat Limited)
Class of securities:           Ordinary shares
Nature of transaction:         Disposal of shares to settle tax liability relating to vested rights in the
                               Afrimat Share Appreciation Rights scheme (Off market transaction)
Date of transaction:           31 July 2019
Price per share:               R35.04
Number of shares:              29 682
Total value:                   R1 040 057
Nature of interest:            Direct beneficial
Clearance to deal obtained:    Yes


By order of the board of directors
Cape Town
2 August 2019


Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 02/08/2019 08:27:00
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