SEARDEL INVESTMENT CORPORATION LTD - Director Dealing in Securities

Director Dealing in Securities

SEARDEL INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/011249/06)
Share code: SER    ISIN Code: ZAE000029815
Share code: SRN    ISIN Code: ZAE000030144
("Seardel")

EXERCISE OF OPTIONS BY DIRECTOR
In compliance with Rules 3.63 - 3.74 of the JSE Limited Listing Requirements
the following information regarding the off-market exercise of options in
terms of the Seardel Long Term Incentive Trust is disclosed:

Director                            :    Mr G D T Wege
Designation                         :    Chief Financial Officer
Nature of transaction               :    Exercise of options
Class of securities                 :    Ordinary shares - Direct Beneficial
Date of grant of options            :    18 March 2010
Date of vesting of options          :    15 August 2012
Date of exercise of options         :    31 August 2012
Number of options exercised         :    750,000
Option strike price                 :    R0.00
Total value of options              :    R0.00

Director                            :    Mr G D T Wege
Designation                         :    Chief Financial Officer
Nature of transaction               :    Exercise of options
Class of securities                 :    Ordinary shares - Direct Beneficial
Date of grant of options            :    16 July 2010
Date of vesting of options          :    15 August 2012
Date of exercise of options         :    31 August 2012
Number of options exercised         :    123 750
Option strike price                 :    R0.42
Total value of options              :    R51,975

Director                            :    Mr D Duncan
Designation                         :    Director – Subsidiary Company
Nature of transaction               :    Exercise of options
Class of securities                 :    Ordinary shares - Direct Beneficial
Date of grant of options            :    18 March 2010
Date of vesting of options          :    15 August 2012
Date of exercise of options         :    31 August 2012
Number of options exercised         :    525,000
Option strike price                 :    R0.00
Total value of options              :    R0.00

Director                            :    Mr D Duncan
Designation                         :    Director – Subsidiary Company
Nature of transaction               :    Exercise of options
Class of securities                 :    Ordinary shares - Direct Beneficial
Date of grant of options            :    16 July 2010
Date of vesting of options          :    15 August 2012
Date of exercise of options         :    31 August 2012
Number of options exercised         :    86 625
Option strike price                 :    R0.42
Total value of options              :    R36,383
Clearance                           :   Clearance in terms of par. 3.66 of
                                        the JSE Listings Requirements was
                                        obtained.

All trades are deemed to be completed off market.

3 September 2012
Sponsor: Investec Bank Limited

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