RAC - Racec Group Limited - Granting and Acceptance of Options

RAC - Racec Group Limited - Granting and Acceptance of Options                  
RACEC GROUP LIMITED                                                             
Incorporated in the Republic of South Africa                                    
(Registration number 1998/006153/06)                                            
Share code: RAC ISIN:ZAE000105409                                               
GRANTING AND ACCEPTANCE OF OPTIONS                                              
In compliance with paragraphs 3.63 to 3.74 (both inclusive) of the Listings     
Requirements of JSE Limited, the following is disclosed pertaining to the       
granting and acceptance of options at a strike price of 53.11 cents per option  
on 31 March 2011 in terms of the RACEC Share Purchase Scheme:                   
Name of director:                  Mr Gary Lee Harrod                           
Company:                           RACEC Group Limited                          
Class of securities:               Ordinary shares                              
Number of options:                 2 799 560                                    
Total value of grant:              R1 486 846.32                                
Extent of director`s interest:     Direct beneficial                            
Clearance obtained:                Yes                                          
Name of director:                  Mr Winston Ollewagen                         
Company:                           RACEC Rail (Proprietary) Limited             
Class of securities:               Ordinary shares                              
Number of options:                 2 799 560                                    
Total value of grant:              R1 486 846.32                                
Extent of director`s interest:     Direct beneficial                            
Clearance obtained:                Yes                                          
Name of director:                  Mr Iain James Campbell                       
Company:                           RACEC (Proprietary) Limited                  
Class of securities:               Ordinary shares                              
Number of options:                 1 399 780                                    
Total value of grant:              R743 423.16                                  
Extent of director`s interest:     Direct beneficial                            
Clearance obtained:                Yes                                          
20% of the total number of the share options which have been granted to each of 
the abovementioned directors will vest after a period of 4 years from the date  
of acceptance, a further 20% will vest after a period of 5 years, and the       
remaining 60% will vest after a period of 6 years.                              
Cape Town                                                                       
1 April 2011                                                                    
Designated Adviser                                                              
Merchantec Capital                                                              
Date: 01/04/2011 11:34:02 Supplied by www.sharenet.co.za                     
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