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Dealings in Securities
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or “the Company”)
DEALINGS IN SECURITIES
A. Equity settlement of conditional shares
In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE
Limited (“the Listings Requirements”), we hereby provide the following
information regarding the equity settlement of conditional shares by ARM to
the undermentioned Directors and Prescribed Officer of the Company, and the
undermentioned Directors of Two Rivers Platinum Proprietary Limited and ARM
Mining Consortium Limited, major subsidiaries of the Company. These awards
were made in terms of The African Rainbow Minerals Limited 2018 Conditional
Share Plan (the “2018 CSP”) and on recommendation of the Remuneration
Committee, approved by ARM’s Board of Directors. The calculation of the gross
value of conditional shares vested is based upon the closing ARM share price
of R294.26 on 9 December 2022.
Conditional shares
Date of transaction 19 December 2022
Nature of transaction Equity settlement of conditional shares in
terms of the 2018 CSP by means of on-
market purchase of shares in the market
Date of award 6 December 2019
Vesting date for settlement 12 December 2022
Class of securities Ordinary shares
Extent of interest Direct, beneficial
1
Name Designation Number of Gross value Number of Number of Value of
conditional of vested shares conditional conditional
shares shares at withheld shares shares
vested vesting to cover settled on a settled
date tax net of tax (R)
(before tax liability basis
liability) **
(R)
PT Motsepe, Executive 179 189 52 728 155 N/A 179 189 50 416 922
Dr * Chairman
MP Schmidt Chief 156 241 45 975 476 72 246 83 995 23 632 976
Executive
Officer
HL Mkatshana Executive 66 770 19 647 740 30 875 35 895 10 099 478
Director
A Joubert Prescribed 76 322 22 458 511 35 320 41 002 11 536 392
Officer
NV Khumalo Director of 39 983 11 765 397 18 489 21 494 6 047 588
Two Rivers
Platinum
Proprietary
Limited, a
major
subsidiary of
ARM
BR Mashiane Director of 37 287 10 972 072 17 270 20 017 5 632 017
ARM Mining
Consortium
Limited, a
major
subsidiary of
ARM
PS Thwala Director of 38 245 11 253 973 17 685 20 560 5 784 797
ARM Mining
Consortium
Limited, a
major
subsidiary of
ARM
The calculation of the value of the conditional shares settled is based upon the
volume weighted average price of shares purchased in settlement, being R281.3617,
with a low of R271.79 per share and a high of R291.99 per share.
The requisite clearances and approvals for these transactions have been
obtained in compliance with the securities dealing policies and procedures of
ARM and paragraph 3.66 of the Listings Requirements.
*Dr PT Motsepe has elected to pay for the tax liability from his own resources.
**The number of shares withheld to cover tax liability is determined based on the
20-day volume weighted average share price on the vesting date, i.e. 12 December
2022, of R286.37, in accordance with the provisions of the 2018 CSP rules.
B. Transfer of shares
In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the
following information is provided regarding the election by the Executive
Chairman of ARM, Dr Patrice Motsepe, to transfer his shares acquired by market
purchase as described in “A” above to African Rainbow Minerals & Exploration
Investments Proprietary Limited (“ARMI”). The shares of ARMI are indirectly
held and beneficially owned by trusts, which trusts, with the exception of The
Motsepe Foundation, hold those shares for the benefit of Dr Patrice Motsepe
and his immediate family. The Motsepe Foundation applies the benefits
emanating from its indirect shareholding in ARMI for philanthropic purposes.
Date of transaction 19 December 2022
Nature of transaction Off-market transfer of shares to ARMI
with beneficial ownership as described
above
Deemed price of securities Volume weighted average price of shares
transferred purchased in settlement, being R281.3617,
with a low of R271.79 per share and a high
of R291.99 per share.
Class of securities Ordinary shares
Nature of interest Indirect, beneficial
Clearance to deal Yes
Name Designation Number of Ordinary Total value
shares transferred (before tax
liability) of
shares
transferred
R
PT Motsepe, Dr Executive Chairman 179 189 50 416 922
The calculation of the value of the shares transferred is based upon the volume
weighted average price of shares purchased in settlement, being R281.3617, with a
low of R271.79 per share and a high of R291.99 per share.
The requisite clearances and approvals for this transaction have been obtained
in compliance with the securities dealing policies and procedures of ARM and
paragraph 3.66 of the Listings Requirements.
Sandton
22 December 2022
Sponsor to ARM:
Investec Bank Limited
Date: 22-12-2022 05:43:00
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