GRINDROD LIMITED - Share Option Scheme

Share Option Scheme

GRINDROD LIMITED
Registration number 1966/009846/06
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE 000071106
(“Grindrod” or the “Company”)


GRINDROD LIMITED SHARE OPTION SCHEME


The Grindrod Limited Share Option Scheme (the “Scheme”) was approved at the annual
general meeting on 20 May 1992, with subsequent amendments approved between 1995
and 2007. There is currently only one participant being Mr Alan Keith Olivier, Chief
Executive Officer, as the Scheme has been closed to new participants since 2007. Mr
Olivier currently holds 400 000 vested ordinary share options under the Scheme which
was due to expire today, 23 November 2015.


In accordance with Schedule 14 of the JSE Listings Requirements, shareholders are
advised that the Company has applied to the JSE Limited for, and was granted an
extension to the expiry date of the options on the following terms:
-   The immediate extension of the expiry date must be for a fix term of no longer than 5
    years; and
-   In terms of Schedule 14 of the JSE Listings Requirements, the amendment to the
    expiry date of the Scheme, must be subject to shareholder approval which will be
    sought at the next annual general meeting of the Company scheduled for 26 May
    2016. If the amendment is not approved by shareholders at the annual general
    meeting, the options will be deemed to expire one week following the date of the said
    annual general meeting.
The extension of the expiry date of the options does not result in a change to the strike
price or any other salient terms of the Scheme.




23 November 2015
Sponsor: Grindrod Bank Limited

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