TRANSACTION CAPITAL LIMITED - Exercise of share appreciation rights in terms of the Transaction Capital Share Appreciation Rights Plan

Exercise of share appreciation rights in terms of the Transaction Capital Share Appreciation Rights Plan

Transaction Capital Limited
(Incorporated in the Republic of South Africa)
Registration number: 2002/031730/06
JSE share code: TCP
ISIN: ZAE000167391
(“Transaction Capital” or “the company”)

EXERCISE OF SHARE APPRECIATIO N RIGHTS IN TERMS OF THE TRANSACTION
CAPIT AL SHARE APPRECIATION RIGHTS PLAN

In compliance with paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirements, notification is hereby
given that the following director of the company has exercised share appreciation rights (“SARs”) on 30
November 2016 in terms of the Transaction Capital Share Appreciation Rights Plan.

Name of director                          David Hurwitz
Name of company                           Transaction Capital Limited
Dates of grant                            11 July 2013 in respect of 2 004 494 SARs (“Tranche 1”) ; and
                                          18 November 2013 in respect of 979 049 SARs (“Tranche 2”)
Date transaction was effected             30 November 2016
Class of security                         SARs in respect of ordinary shares
Number of SARs                            2 983 543
Exercise Price                            R14.72
Grant Price                               R3.69 in respect of Tranche 1; and
                                          R4.21 in respect of Tranche 2.
Number of shares to be delivered          2 200 860
Total Value                               R32 396 659
Nature of transaction                     Off market exercise of SARs
Nature of interest                        Direct beneficial
Clearance obtained                        Yes

Post the exercise of the abovementioned SARs, David Hurwitz owns (directly and indirectly) approximately
4.7 million shares in the company.

Dunkeld West
2 December 2016

Enquiries:
Phillipe Welthagen - Investor Relations
Telephone: +27 (0) 11 049 6700

Sponsor:
Deutsche Securities (SA) Proprietary Limited

Date: 02/12/2016 08:57:00 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.