Dealings In Securities By Directors VUNANI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/020641/06) JSE code: VUN ISIN: ZAE000163382 ("Vunani" or "the company") DEALINGS IN SECURITIES BY DIRECTORS AND DIRECTORS OF MAJOR SUBSIDIARIES In compliance with paragraphs 3.63 to 3.64 of the Listings Requirements of JSE Limited ("Listings Requirements"), the following dealings took place by directors and directors of major subsidiaries of Vunani: Name of director: Aphrodite Judin (Executive director) Date of original award: 28 December 2012 Type of transaction: Acceptance of the offer of shares in terms of the Vunani Share Incentive scheme Nature of interest: Direct Number of ordinary shares: 142 507 Price: 148 cents Value of transaction: R210 910.36 Name of director: Butana Khoza (Executive director) Date of original award: 28 December 2012 Type of transaction: Acceptance of the offer of shares in terms of the Vunani Share Incentive scheme Nature of interest: Direct Number of ordinary shares: 232 231 Price: 148 cents Value of transaction: R343 701.88 Name of director: Ethan Dube (executive director) Date of original award: 28 December 2012 Type of transaction: Acceptance of the offer of shares in terms of the Vunani Share Incentive scheme Nature of interest: Direct Number of ordinary shares: 344 680 Price: 148 cents Value of transaction: R510 126.40 Name of director: Evelyn Chimombe- Munyoro (executive director) Date of original award: 28 December 2012 Type of transaction: Acceptance of the offer of shares in terms of the Vunani Share Incentive scheme Nature of interest: Direct Number of ordinary shares: 155 084 Price: 148 cents Value of transaction: R229 524.32 Name of director: Mark Anderson Position: Director of the Company Date of original award: 28 December 2012 Type of transaction: Acceptance of the offer of shares in terms of the Vunani Share Incentive scheme Nature of interest: Direct Number of ordinary shares: 220 009 Price: 148 cents Value of transaction: R325 613.32 Name of director: Johan Rossouw Position: Director of Vunani Securities Pty Ltd Date of original award: 28 December 2012 Type of transaction: Acceptance of the offer of shares in terms of the Vunani Share Incentive scheme Nature of interest: Direct Number of ordinary shares: 139 450 Price: 148 cents Value of transaction: R206 386.00 Clearance was obtained in terms of paragraph 3.66 of the Listings Requirements and dealing is off-market. In terms of the Vunani Share Incentive scheme, once the shares are paid for, participants will be entitled to the release thereof after expiry of a period of: * 1 year after the Acceptance Date, in respect of 20& of the shares or part thereof; * 2 years after the Acceptance Date, in respect of a further 25% of the shares or part thereof; * 3 years after the Acceptance Date, in respect of a further 25% of the shares or part thereof; * 4 years after the Acceptance Date, in respect of a further 30% of the shares, or the balance thereof. Sandton 2 January 2013 Designated Adviser Grindrod Bank Limited Date: 02/01/2013 03:40:00 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. 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.