AVENG LIMITED - Directors Acceptance of SARS and FSP Awards

Directors’ Acceptance of SARS and FSP Awards

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
ISIN: ZAE000111829
SHARE CODE: AEG
("Aveng" or "the Group")

Directors’ Acceptance of SARS and FSP Awards

The off-market acceptance of the annual awards by Directors and
Subsidiary Directors in terms of the Group’s long-term incentive
scheme, being the Forfeitable Share Plan and Share Appreciation Rights
Scheme.

Awards were made on 25 September 2013 in terms of the Aveng Long Term
Incentive schemes, being the Share Appreciation Rights Scheme and the
Forfeitable Share Plan. All the awards are for the direct beneficial
interest of directors.

Share Appreciation Rights awarded to and accepted by Directors and
Subsidiary Directors:

Director       Company           Acceptance Date       Award          Share
                                                       Price   Appreciation
                                                                     Rights


Kobus          Aveng Limited     27 September 2013   R 25.00        163,500
Verster
Juba Mashaba   Aveng Limited     27 September 2013   R 25.00        128,300
Solly          Aveng (Africa)    27 September 2013   R 25.00         73,000
Letsoalo       Limited
Hercu Aucamp   Aveng Trident     27 September 2013   R 25.00        121,900
               Steel (Pty)
               Limited
David          Aveng Limited     27 September 2013   R 25.00        120,907
Robinson


The   vesting period of the SAR Awards are as follows:-
  -    First 1/3rd of grant vests on 24 September 2016
  -    Second 1/3rd of grant vests on 24 September 2017
  -    Final 1/3rd of grant vests on 24 September 2018

Furthermore, vesting is subject to performance conditions.

Forfeitable Share Plan (“FSP”)
Schedule 14 of the JSE Limited Listings Requirements will in this
instance not apply to the FSP as awards made under the scheme are
settled by way of acquiring shares from third parties on the open
market.    No new shares will be issued by the Company to any
participant.
Forfeitable Shares awarded to and accepted by Directors and Subsidiary
Directors:

Director       Company         Acceptance Date       Award    Forfeitable
                                                     Price         Shares
Kobus          Aveng Limited   27 September 2013   R 25.00         75,000
Verster
Juba Mashaba   Aveng Limited   27 September 2013   R 25.00         50,000
Hercu Aucamp   Aveng Trident   27 September 2013   R 25.00         50,000
               Steel (Pty)
               Limited
David          Aveng Limited   27 September 2013   R 25.00         50,000
Robinson

The vesting period of the FSP Award is 3 years from the Award Date and
is subject to a performance condition.
The necessary clearance in terms of paragraph 3.66 of the JSE Listings
Requirements has been obtained.

27 September 2013

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 27/09/2013 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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