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MERAFE RESOURCES LIMITED - Dealings in securities by directors of Merafe

Release Date: 04/04/2022 14:00
Code(s): MRF     PDF:  
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Dealings in securities by directors of Merafe

Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
(“Merafe” or the “Company”)

DEALINGS IN SECURITIES BY DIRECTORS OF MERAFE

In compliance with paragraphs 3.63 – 3.66 of the Listings Requirements of the JSE Limited, the following
information is provided:

Vesting of shares in terms of the Share Incentive Scheme (“Scheme”)

In terms of the Scheme, the following grant shares vested on 1 April 2022. The Company has the right,
at its election, either to issue new Merafe ordinary shares or settle in cash. The Company has opted to
settle the respective grant shares in cash.

 Date of transaction:                                1 April 2022
 Class of security:                                  Ordinary shares
 Nature of transactions:                             Vesting of shares in terms of the Scheme
 Issue price per share:                              Nil
 Strike price per share:                             R1.85
 Transactions completed:                             Off market
 Nature and extent of directors’ interest in the     Direct beneficial
 transactions:
 Clearance obtained:                                 Yes

Vesting 1

 Name of director:                                   Zanele Matlala (Chief Executive Officer of the
                                                     Company)
 Number of shares vested:                            861 441
 Total value of transaction:                         R1 593 665.85


Vesting 2

 Name of director:                                   Ditabe Chocho (Financial Director of the
                                                     Company)
 Number of shares vested:                            196 881
 Total value of transaction:                         R364 229.85


Annual share grant allocations

In terms of the Scheme approved by shareholders on 13 April 2010, Merafe has issued the annual share
grant allocation of Restricted Shares (as defined in the Scheme) to executive directors.

These Restricted Shares are issued at no cost to the executive directors at the volume weighted average
price of R1.82 per ordinary share for 31 March 2022 and were accepted on 1 April 2022.

 Class of security:                                  Ordinary shares
 Nature of transactions:                             Acceptance of Restricted Shares in terms of the
                                                     Scheme
 Periods of vesting:                                 These Restricted Shares shall vest in three
                                                     tranches, one third on 1 April 2025, one third on
                                                     1 April 2026 and one third on 1 April 2027 and are
                                                     subject to performance based vesting criteria
 Transactions completed:                             Off market
 Nature and extent of directors’ interest in the     Direct beneficial
 transactions:
 Clearance obtained:                                 Yes

Acceptance 1

 Name of director:                                   Zanele Matlala
 Number of Restricted Shares accepted:               2 128 923
 Total value of transaction:                         R3 874 639.86

Acceptance 2

 Name of director:                                   Ditabe Chocho
 Number of Restricted Shares accepted:               972 896
 Total value of transaction:                         R1 770 670.72


Sandton
4 April 2022

Sponsor
One Capital

Date: 04-04-2022 02:00:00
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