Award and acceptance of shares in terms of forfeitable share plan VILLAGE MAIN REEF LIMITED (Incorporated in the Republic of South Africa) (Registration number 1934/005703/06) Share Code: VIL ISIN: ZAE000154761 (“Village Main Reef”) AWARD AND ACCEPTANCE OF SHARES IN TERMS OF THE VILLAGE MAIN REEF FORFEITABLE SHARE PLAN 2010 (“FSP”) Shareholders are advised of the following information relating to the award and acceptance of shares as offered to directors in terms of the rules of the FSP. In terms of the rules of the FSP, the allocation made represents the maximum number of shares that a participant could receive under the scheme if all the performance conditions attached to the allocation are substantially exceeded, which conditions are fully described in the annual report of Village Main Reef. The shares will be held by the Escrow Agent until their Vesting Date on the 3rd anniversary of their award, as defined in the rules of the FSP, subject to the terms and conditions of the FSP as described in the annual report: Name of Director: Ferdi Dippenaar Transaction Date: 9 January 2015* Class of Securities: Ordinary shares Number of Securities: 819,034 Price per security: R6.435735 Total value: R5,271,086 Nature of transaction: Acceptance of shares offered in terms of the FSP Nature and extent of directors’ interest: Direct beneficial Clearance to deal received: Yes Vesting date: 9 January 2018 Name of Director: Clinton Halsey Transaction Date: 9 January 2015* Class of Securities: Ordinary shares Number of Securities: 327,549 Price per security: R6.435735 Total value: R2,108,019 Nature of transaction: Acceptance of shares offered in terms of the FSP Nature and extent of directors’ interest: Direct beneficial Clearance to deal received: Yes Vesting date: 9 January 2018 * The awards were approved by the remuneration committee of Village Main Reef on 21 January 2015 The above allocations were done off-market. Johannesburg 23 January 2015 Sponsor Bravura Capital (Pty) Ltd Date: 23/01/2015 12:15:00 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.