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RMI - Rand Merchant Insurance Holdings Limited - Realisation of benefit under forfeitable share plan and dealing in securities RAND MERCHANT INSURANCE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2010/005770/06) JSE Ordinary share code: RMI ISIN: ZAE000153102 ("RMI Holdings" or "the Company") REALISATION OF BENEFIT UNDER FORFEITABLE SHARE PLAN AND DEALING IN SECURITIES In compliance with the JSE Limited Listings Requirements, the following information is disclosed: REALISATION OF BENEFIT UNDER FORFEITABLE SHARE PLAN During October 2009 RMB Holdings Limited ("RMBH") executives were invited to participate in that company`s forfeitable share plan. Details of grants are set out in the RMBH`s annual financial statements. RMBH hedged the exposure by acquiring the commensurate number of RMBH ordinary shares in the market. As a result of the one-for-one unbundling by RMBH of RMI Holdings during March 2011, participants acquired an interest in a corresponding number of RMI Holdings ordinary shares. Participants became entitled to the benefit under the plan on 1 October 2011, on which date the RMI Holdings share price was 1,251 cents. The final restrictive condition has now been complied with and the (off market) benefits that accrue to the participants are as follows: Participant Number of RMI Strike price Value on 1 Holdings (cents) October 2011 ordinary shares (Rand) P Cooper 231,600 0,0 R2,897,316 CEO A Maher 11,600 0,0 R145,116 Company Secretary SALE OF SHARES ARISING UNDER FORFEITABLE SHARE PLAN To fund his obligation arising from the benefit received above, a participant elected to sell the following number of RMI Holdings shares on the market on 19 October 2011, while continuing to hold the balance remaining: Participant Number of RMI Selling price Value of Holdings (cents) transaction ordinary shares (Rand) sold P Cooper 89,000 1,292 R1,149,889 CEO Clearance has been obtained in respect of the above transactions. All interests in the transactions are direct and beneficial. Sandton 20 October 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/10/2011 11:56:16 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
