MERAFE RESOURCES LIMITED - Directors Dealings In Securities

Directors’ Dealings In Securities

MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000


DIRECTORS’ DEALINGS IN SECURITIES

In accordance with the requirements of paragraph 3.63 to 3.74 of the JSE
Listings Requirements, the following information is disclosed:

Name of Director             Kajal Bissessor
Company                      Merafe Resources Limited
Date of exercise             28 March 2017
Nature of transaction        Exercise of share options
Number of securities         3 000 000
Strike price                 69 cents
Issue date                   9 March 2009
Vesting date                 9 March 2014
Exercise price               172 cents
Total value of transaction   R 3 090 000
Nature of interest           Direct beneficial
Clearance obtained           Yes
Traded on/off market         Off market


Name of Director             Zanele Matlala
Company                      Merafe Resources Limited
Date of exercise             28 March 2017
Nature of transaction        Exercise of share options
Number of securities         5 309 546
Strike price                 136 cents
Issue date                   1 October 2010
Vesting date                 1 October 2016
Exercise price               172 cents
Total value of transaction   R 1 911 436
Nature of interest           Direct beneficial
Clearance obtained           Yes
Traded on/off market         Off market

In terms of the Merafe Share Incentive Scheme (“Scheme”) the company has
the right, at its election, either to issue new shares or settle in cash.
The company has opted to settle the respective options in cash.

Sandton
29 March 2017

Sponsor:
Merrill Lynch South Africa Proprietary Limited

Date: 29/03/2017 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.