AFRIMAT LIMITED - Dealings by directors

Dealings by directors

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


DEALINGS BY DIRECTORS


In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
following information is disclosed:

1.
NAME OF DIRECTOR                              Andries van Heerden

COMPANY OF WHICH A DIRECTOR                   Afrimat Limited

STATUS: EXECUTIVE/NON-EXECUTIVE               Executive

TYPE AND CLASS OF SECURITIES                  Rights to acquire ordinary shares

NATURE OF TRANSACTION                         Exercise of share appreciation rights and
                                              receipt of shares in terms of the Afrimat
                                              Share Appreciation Rights scheme (Off-
                                              market transaction)

AWARD DATE                                    20 May 2020

VESTING DATE                                  19 May 2023 (3 years from award date)

AWARD PRICE                                   R25.01

EXERCISE DATE                                 22 May 2023

EXERCISE PRICE (30-DAY VWAP                   R52.30
PRECEEDING THE EXERCISE DATE)

NUMBER OF RIGHTS EXERCISED                    470 000

NUMBER OF SHARES RECEIVED (NET OF             134 885
TAX)

TOTAL RAND VALUE OF SHARES                    R 7 054 485.50
RECEIVED

PERIOD OF EXERCISE                            4 years from the vesting date

NATURE AND EXTENT OF INTEREST IN              Direct, beneficial
THE TRANSACTION

2.
NAME OF DIRECTOR                              Pieter GS de Wit

COMPANY OF WHICH A DIRECTOR                   Afrimat Limited

STATUS: EXECUTIVE/NON-EXECUTIVE               Executive

TYPE AND CLASS OF SECURITIES                  Rights to acquire ordinary shares

NATURE OF TRANSACTION                         Exercise of share appreciation rights and
                                              receipt of shares in terms of the Afrimat
                                              Share Appreciation Rights scheme (Off-
                                              market transaction)

AWARD DATE                                    20 May 2020

VESTING DATE                                  19 May 2023 (3 years from award date)

AWARD PRICE                                   R25.01

EXERCISE DATE                                 22 May 2023

EXERCISE PRICE (30-DAY VWAP                   R52.30
PRECEEDING THE EXERCISE DATE)

NUMBER OF RIGHTS EXERCISED                    202 000

NUMBER OF SHARES RECEIVED (NET OF             57 972
TAX)

TOTAL RAND VALUE OF SHARES                    R 3 031 935.60
RECEIVED

PERIOD OF EXERCISE                            4 years from the vesting date

NATURE AND EXTENT OF INTEREST IN              Direct, beneficial
THE TRANSACTION


3.
NAME OF DIRECTOR                              Collin Ramukhubathi

COMPANY OF WHICH A DIRECTOR                   Afrimat Limited

STATUS: EXECUTIVE/NON-EXECUTIVE               Executive

TYPE AND CLASS OF SECURITIES                  Rights to acquire ordinary shares

NATURE OF TRANSACTION                         Exercise of share appreciation rights and
                                              receipt of shares in terms of the Afrimat
                                              Share Appreciation Rights scheme (Off-
                                              market transaction)

AWARD DATE                                    20 May 2020

VESTING DATE                                  19 May 2023 (3 years from award date)

AWARD PRICE                                   R25.01

EXERCISE DATE                                 22 May 2023

EXERCISE PRICE (30-DAY VWAP                   R52.30
PRECEEDING THE EXERCISE DATE)

NUMBER OF RIGHTS EXERCISED                    173 000

NUMBER OF SHARES RECEIVED (NET OF             49 649
TAX)

TOTAL RAND VALUE OF SHARES                    R 2 596 642.70
RECEIVED

PERIOD OF EXERCISE                            4 years from the vesting date

NATURE AND EXTENT OF INTEREST IN              Direct, beneficial
THE TRANSACTION

Clearance for the above was obtained in terms of paragraph 3.66 of the JSE Limited Listings
Requirements.


Cape Town
23 May 2023

Sponsor
Valeo Capital (Pty) Ltd

Date: 23-05-2023 12:11:00
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