REMGRO LIMITED - Acceptance of share appreciation rights (SARS) by directors and company secretary of Remgro

Acceptance of share appreciation rights (“SARS”) by directors and company secretary of Remgro

Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
(ISIN: ZAE000026480)
(Share code: REM)
("Remgro" or "the Company")

ACCEPTANCE OF SHARE APPRECIATION RIGHTS (“SARs”) BY DIRECTORS AND
COMPANY SECRETARY OF REMGRO

As set out below, SARs, in respect of ordinary shares, were
granted to directors and the company secretary on 24 November 2015
at a grant price of R272-00 per SAR, which is based on the closing
price of Remgro shares on 23 November 2015.

Mr WE Buhrmann
Total number of SARs accepted: 26 470
Total value: R7 199 840.00

Mr JJ Durand
Total number of SARs accepted:   192 676
Total value: R52 407 872.00

Mrs M Lubbe (Company Secretary)
Total number of SARs accepted: 8 036
Total value: R2 185 792.00

The SARs may be exercised as follows:

  -   up to one third of the SARs granted may be exercised on or
      after the third anniversary of the date of grant;
  -   up to two thirds of the SARs granted may be exercised on or
      after the fourth anniversary of the date of grant, to the
      extent that they have not been exercised previously;
  -   all of the SARs granted may be exercised on or after the
      fifth anniversary of the date of grant, to the extent that
      they have not been exercised previously;
  -   all SARs must be exercised by the seventh anniversary of the
      date of grant.

  Approval for the individual allocations has been given, all
  interests are directly beneficial and all transactions occurred
  off the market.

Stellenbosch
25 November 2015

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

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