Equity settlement of bonus shares and performance shares African Rainbow Minerals Limited (Incorporated in the Republic of South Africa) (Registration Number 1933/004580/06) JSE Share code: ARI ISIN: ZAE000054045 (“ARM” or “the Company”) Equity settlement of bonus shares and performance shares A. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE Limited (“the Listings Requirements”), we provide the following information regarding the equity settlement of bonus shares and performance shares by ARM to the undermentioned directors and the company secretary of ARM. The calculation for the equity settlement of these shares is based upon the closing share price of R166.00 on Monday, 15 October 2012. 1. Bonus shares Date of transaction 19 October 2012 Nature of transaction Equity settlement of bonus shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in off market transactions Date of grant 15 October 2009 Vesting date 16 October 2012 Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value Bonus Shares settled R PT Motsepe Executive chairman 2 919 484 554.00 MP Schmidt Chief executive officer 385 63 910.00 M Arnold Financial director 523 86 818.00 WM Gule Executive director 585 97 110.00 AJ Wilkens Executive director 2 935 487 210.00 2. Performance shares Date of transaction 19 October 2012 Nature of transaction Equity settlement of performance shares in terms of The African Rainbow Minerals Limited 2008 Share Plan in off market transactions Date of award 15 October 2009 Vesting date 16 October 2012 Class of securities Ordinary shares Extent of interest Direct, beneficial Name Designation Number of Value Performance Shares settled R PT Motsepe Executive chairman 21 803 3 619 298.00 MP Schmidt Chief executive officer 3 906 648 396.00 M Arnold Financial director 7 306 1 212 796.00 WM Gule Executive director 4 373 725 918.00 AJ Wilkens Executive director 21 928 3 640 048.00 AN D’Oyley Company secretary 3 117 517 422.00 The remuneration committee granted the necessary authority to settle these bonus shares and performance shares in terms of paragraph 3.66 of the Listings Requirements. Dealings in securities by directors B. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the following information is provided regarding the election by the undermentioned directors to sell shares to settle the tax payable on the settlement of bonus shares and performance shares as described in “A” above. Date of transaction 19 October 2012 Nature of transaction On market sale of shares Class of securities Ordinary shares Number of securities 17 675 Selling price of securities Average price of R170.0659 per share (with a low of R170.00 and a high of R170.11) Total value of transaction R3 005 914.78 Nature of interest Direct, beneficial Clearance to deal Yes Name Designation Number of Total value Ordinary of shares sold transactions R MP Schmidt Chief executive officer 1 683 286 261.71 M Arnold Financial director 3 071 522 289.20 WM Gule Executive director 1 945 330 758.71 AJ Wilkens Executive director 9 753 1 658 663.48 AN D’Oyley Company secretary 1 223 207 941.68 C. In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the following information is provided regarding the election by the executive chairman, Mr Patrice Motsepe, to transfer his shares acquired by subscription as described in “A” above to Botho-Botho Commercial Enterprises (Pty) Limited (“BBCE”). The entire issued share capital of BBCE is held and beneficially owned by trusts established for the benefit of Mr Patrice Motsepe and his immediate family (Motsepe Family Structure). The requisite clearances and approvals for this transaction have been obtained in compliance with the Securities Dealing Policies and Procedures of ARM. Date of transaction 19 October 2012 Nature of transaction Transfer of shares to the Motsepe Family Selling price of securities Structure with no change in beneficial ownership. Closing price of R166.00 on Monday, 15 October 2012 Class of securities Ordinary shares Nature of interest Indirect, beneficial Clearance to deal Yes Name Designation Number of Total value Ordinary of shares shares transferred transferred R PT Motsepe Executive chairman 24 722 4 103 852.00 Sandton 22 October 2012 Sponsor to ARM: Deutsche Securities (SA) (Proprietary) Limited Date: 22/10/2012 05:00:00 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. 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