MERAFE RESOURCES LIMITED - Dealings in Securities by Directors of Merafe

Dealings in Securities by Directors of Merafe

MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000
(“Merafe”)

DEALINGS IN SECURITIES BY DIRECTORS OF MERAFE

In compliance with paragraphs 3.63 – 3.66 of the Listings Requirements of the
JSE Limited the following information is provided:

Vesting of shares in terms of the Share Incentive Scheme

In terms of the Merafe Share     Incentive Scheme (“Scheme”) the following grant
shares vest on 1 October 2015    and the company has the right, at its election,
either to issue new shares or    settle in cash. The company has opted to settle
the respective grant shares in   cash.

Name of director:                          Zanele Matlala
Transaction date:                          1 October 2015
Nature of transaction:                     Vesting of shares in terms of the
                                           Scheme
Number of shares vested:                   799 915
Issued price per share:                    Nil
Strike price per share:                    69.12 cents
Total value of shares vesting:             R552 901
Total settlement value:                    R552 901
Type of trade:                             Off market
Class of security:                         Ordinary shares
Extent of director's
interest in the transaction:               Direct beneficial
Clearance obtained:                        Yes



Sandton
2 October 2015

Sponsor:
Merrill Lynch South Africa Proprietary Limited

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