RCL FOODS LIMITED - Dealings in share appreciation rights (SARs) and securities by a director of a major subsidiary

Dealings in share appreciation rights (“SARs”) and securities by a director of a major subsidiary

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL
(“the Company”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) AND SECURITIES BY A
DIRECTOR OF A MAJOR SUBSIDIARY

The following transactions are disclosed in relation to SARs which
were awarded on 2 June 2010 and are due to expire on 2 June 2017.
SARs award prices and exercise prices were determined as the 5-day
volume weighted average price (VWAP) as at the respective award
and exercise dates:

Director                        :   DS Pitman
Company                         :   RCL Foods Consumer Pty Ltd, a
                                    major subsidiary of the Company
Date of transaction             :   27 March 2017
Nature of transaction           :   Off-market     acceptance      and
                                    exercise   of   SARs   which   are
                                    subsequently equity settled in
                                    accordance with the RCL Foods
                                    Limited Share Appreciation Rights
                                    Scheme
Class of securities             :   SARs in respect of ordinary
                                    shares
Number of SARs exercised        :   387,663
SARs award price                :   R14.73
SARs exercise price             :   R16.20
Total gain on transaction       :   R569,851.20
Equivalent number of shares     :   35,176
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes

Director                        :   DS Pitman
Company                         :   RCL Foods Consumer Pty Ltd, a
                                    major subsidiary of the Company
Date of transaction             :   29 March 2017
Nature of transaction           :   On-market sale of shares
Number of shares                :   35,176
Highest price traded            :   R15.30
Lowest price traded             :   R14.65
Volume weighted average price   :   R14.95
Total value of transaction      :   R525,952.17
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes


Durban
31 March 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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