HULAMIN LIMITED - Exercise of SARS and subsequent sale of shares by director

Exercise of SARS and subsequent sale of shares by director

HULAMIN LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1940/013924/06)
ISIN: ZAE000096210
Share Code: HLM
("Hulamin")

EXERCISE OF SARS AND SUBSEQUENT SALE OF SHARES BY DIRECTOR

In compliance with the JSE Limited Listings Requirements, the
following information is disclosed:

Director:                            R G Jacob
Company:                             Hulamin Limited
Nature of transaction:               Off market exercise of share
                                     appreciation rights ("SARS")
                                     and subsequent on market sale
                                     of shares
Date of exercise:                    25 February 2015
Class of securities:                 SARS in respect of ordinary
                                     shares
Hulamin SAR strike price:            R6.91
Strike date:                         25 May 2011
Number of SARS exercised:            509 138 Hulamin SARS settled
                                     by the purchase of 118 233
                                     Hulamin ordinary shares of
                                     which 49 658 were subsequently
                                     sold on market
Date of sale:                        25 February 2015
Highest Price:                       R9.09
Lowest Price                         R9.04
Volume weighted average price:       R9.0724
Value of sale:                       R450 518.89
Nature of interest:                  Direct beneficial
Clearance obtained:                  Yes

Pietermaritzburg
26 February 2015

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

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