MERAFE RESOURCES LIMITED - Dealing in Securities by Executive Directors and Company Secretary

Dealing in Securities by Executive Directors and Company Secretary

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

DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS AND COMPANY SECRETARY

In terms of paragraph 3.63 - 3.66 of the Listings Requirements of the JSE
Limited, the following information is disclosed in respect of appointment
of CFO and the annual grant of Restricted Shares to the executive directors
and the company secretary of Merafe Resources in terms of the Merafe
Resources Limited Share Incentive Scheme approved by shareholders on 13
April 2010.

These Restricted Shares are Merafe Resources’ ordinary shares that are
issued at no cost to eligible employees at the volume weighted average
price of 80.20 cents per ordinary share for the 30 days preceding 6 March
2013 and were accepted on 6 March 2013.

These Restricted Shares are held on a direct beneficial basis.

Name                                    Number of Restricted      Value
                                        Shares granted

DS Chocho (Chief Financial Officer)      1 728 923               R1 386 596

ZJ Matlala (Chief Executive Officer)     2 278 726               R1 827 539
B McBride (Commercial Director)          1 480 272               R1 187 178
A Mahendranath (Company secretary)         299 294               R 240 034

These shares shall vest in three tranches, one third on 6 March 2016, one
third on 6 March 2017 and one third on 6 March 2018 and are subject to a
mix of time-based and performance-based vesting criteria.

Authority to transact has been obtained and the transactions set out above
were done off-market.


Sandton
7 March 2013
Sponsor:
Merrill Lynch South Africa Proprietary Limited

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