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Exx - Exxaro Resources Limited - Correction Announcement

Release Date: 21/04/2011 17:45:54      Code(s): EXX
EXX - Exxaro Resources Limited - Correction announcement                        
EXXARO RESOURCES LIMITED                                                        
Incorporated in the Republic of South Africa                                    
(Registration Number:  2000/011076/06)                                          
JSE share code:  EXX                                                            
ISIN code:  ZAE000084992                                                        
ADR code:  EXXAY                                                                
(Exxaro)                                                                        
CORRECTION ANNOUNCEMENT:  ACCEPTANCE OF CONDITIONAL AWARDS GRANTED IN TERMS OF  
THE SHARE APPRECIATION RIGHT (SAR) SCHEME AND THE LONG TERM INCENTIVE PLAN      
(LTIP) TO DIRECTORS OF EXXARO AND ITS MAJOR SUBSIDIARIES                        
We refer to the announcement released on 20 April 2011, in compliance with      
clauses 3.63 and 3.65 of the JSE Listings Requirements, notice is hereby given  
that directors of Exxaro and its major subsidiaries, as listed below, received  
and accepted awards granted in terms of the respective schemes, after having    
received clearance to do so in terms of the JSE Listings Requirements 3.66.     
SAR Performance period:       The vesting of the SAR awards is conditional upon 
                             the achievement of group performance targets over  
                             a minimum period of 3 years (total lapse period of 
7 years - 01/04/2011 to 01/04/2018)                
Class of shares:              Ordinary                                          
Nature of transaction:        Acceptance of SAR awards                          
Nature of interest:           Direct Beneficial                                 
Offer price:                  R163.95                                           
Date of transaction:          19 April 2011                                     
LTIP Performance period:      The vesting of the LTIP awards is conditional upon
                             the achievement of group performance targets over  
a period of 3 years (01/01/2011 to 31/12/2013)     
Class of shares:              Ordinary                                          
Nature of transaction:        Acceptance of LTIP awards                         
Offer price:        R0                                                          
Nature of interest:           Direct Beneficial                                 
Date of transaction:          19 April 2011                                     
Name:                         SA Nkosi (Exxaro Resources Ltd)                   
No of SAR shares awarded:     36,538                                            
Value of SAR shares:          R5,990,405.10                                     
LTIP award:                   36,538                                            
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R5,990,405.10                                     
Name:                         WA de Klerk (Exxaro Resources Ltd)                
No of SAR shares awarded:     18,268                                            
Value of SAR shares:          R2,995,038.60                                     
LTIP award:                   18,268                                            
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R2,995,038.60                                     
Name:                         PT Arran (Exxaro Australia Sands (Pty) Ltd)       
No of SAR shares awarded:     14,084                                            
Value of SAR shares:          R2,309,071.80                                     
LTIP award:                   14,084                                            
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R2,309,071.80                                     
Name:                         L Groenewald (Exxaro Coal (Pty) Ltd)              
No of SAR shares awarded:     3,372                                             
Value of SAR shares:          R552,839.40                                       
LTIP award:                   3,372                                             
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R552,839.40                                       
Name:                         PA Koppeschaar (Exxaro Holding (Pty) Ltd)         
No of SAR shares awarded:     6,812                                             
Value of SAR shares:          R1,116,827.40                                     
LTIP award:                   6,812                                             
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R1,116,827.40                                     
Name:                         MDM Mgojo (Exxaro Coal (Pty) Ltd)                 
No of SAR shares awarded:     14,084                                            
Value of SAR shares:          R2,309,071.80                                     
LTIP award:                   14,084                                            
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R2,309,071.80                                     
Name:                         IC Prinsloo (Exxaro Holdings (Pty) Ltd)           
No of SAR shares awarded:     3,554                                             
Value of SAR shares:          R582,678.30                                       
LTIP award:                   3,554                                             
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R582,678.30                                       
Name:                         R Strydom (Exxaro Holdings Pty Ltd)               
No of SAR shares awarded:     6,758                                             
Value of SAR shares:          R1,107,974.10                                     
LTIP award:                   6,758                                             
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R1,107,974.10                                     
Name:                         PE Venter (Exxaro Coal PTY Ltd)                   
No of SAR shares awarded:     14,104                                            
Value of SAR shares:          R2,312,350.80                                     
LTIP award:                   14,104                                            
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R2,312,350.80                                     
Name:                         MS Viljoen (Company Secretary)                    
No of SAR shares awarded:     3,104                                             
Value of SAR shares:          R508,900.80                                       
LTIP award:                   3,104                                             
Deemed value based on the                                                       
prevailing market price of                                                      
Exxaro ordinary shares                                                          
on 19 April 2011:             R508,900.80                                       
MS VILJOEN                                                                      
COMPANY SECRETARY                                                               
21 April 2011                                                                   
Sponsor                                                                         
Deutsche Securities (SA) (Pty) Ltd                                              
Date: 21/04/2011 17:45:54 Supplied by www.sharenet.co.za                     
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