Grant and acceptance of options to directors and officers MONTAUK HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2010/017811/06) (Share code: MNKI & ISIN: ZAE000197455) ("MNK" or "the company") GRANT AND ACCEPTANCE OF OPTIONS TO DIRECTORS AND OFFICERS In compliance with Rules 3.63 - 3.74 of the JSE Limited Listing Requirements the following information regarding the granting and acceptance of options in terms of the Montauk Holdings Limited Employee Share Appreciation Rights Scheme for U.S. Affiliates is disclosed: Director : David Richard Hermann Designation : Chief Executive Officer Nature of transaction : Grant and acceptance of option Off Market Nature of Interest : Direct, Beneficial Class of Shares : Ordinary shares Date of grant of option : 11 December 2015 Date of acceptance : 12 December 2015 Number of options : 425 000 Option strike price : R8.50 Value of transaction : R3 612 500 Vesting date of options : 11 December 2018 11 December 2019 11 December 2020 Expiry date of options : 11 March 2019 11 March 2020 11 March 2021 Director : Sean Fitzgerald McClain Designation : Chief Financial Officer Nature of transaction : Grant and acceptance of option Off Market Nature of Interest : Direct, Beneficial Class of Shares : Ordinary shares Date of grant of option : 11 December 2015 Date of acceptance : 12 December 2015 Number of options : 75 000 Option strike price : R8.50 Value of transaction : R637 500 Vesting date of options : 11 December 2018 11 December 2019 11 December 2020 Expiry date of options : 11 March 2019 11 March 2020 11 March 2021 Public Officer : Martin L, Ryan Designation : Vice President and Company Secretary of major subsidiary Nature of transaction : Grant and acceptance of option Off Market Nature of Interest : Direct, Beneficial Class of Shares : Ordinary shares Date of grant of option : 11 December 2015 Date of acceptance : 12 December 2015 Number of options : 300 000 Option strike price : R8.50 Value of transaction : R2 550 000 Vesting date of options : 11 December 2018 11 December 2019 11 December 2020 Expiry date of options : 11 March 2019 11 March 2020 11 March 2021 Clearance : Clearance in respect of par 3.66 of the JSE Listings Requirements was obtained Cape Town 14 December 2015 Sponsor: Investec Bank Limited Date: 14/12/2015 02:25:00 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.