AFRICAN RAINBOW MINERALS LIMITED - Closing of the restructuring of the ARM Broad-Based Economic Empowerment Trust

Closing of the restructuring of the ARM Broad-Based Economic Empowerment Trust

African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or the "Company")

CLOSING OF THE RESTRUCTURING OF THE ARM BROAD-BASED ECONOMIC EMPOWERMENT TRUST AND
DISCLOSURE OF CHANGES TO BENEFICIAL INTERESTS IN ARM SECURITIES

Shareholders of ARM ("Shareholders") are referred to the announcements released on the Stock Exchange
News Service of the JSE Limited on Monday, 15 February 2016, Friday, 11 March 2016 and Wednesday,
13 April 2016 regarding the proposed specific repurchase by a wholly-owned subsidiary of ARM, Opilac
Proprietary Limited ("Opilac" or "Subco"), of approximately 12.7 million ARM ordinary shares ("ARM Shares")
held by the ARM Broad-Based Economic Empowerment Trust (the "Trust") and the provision of a subordinated
unsecured loan by ARM to the Trust (the "Proposed Restructuring") and are advised that all the conditions
precedent relating to the Proposed Restructuring have now been fulfilled. Accordingly the Proposed
Restructuring has become unconditional.

Shareholders are further advised in accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008, as
amended, and paragraph 3.83(b) of the JSE Limited Listings Requirements, that ARM has received formal
notifications from:
     - the Trust, that it has disposed of a beneficial interest of 5.83% of ARM Shares such that the total of all
       beneficial interests of the Trust are now 7.29% of the total issued ARM Shares; and
     - Opilac (Subco), that it has acquired a beneficial interest of 5.83% of ARM Shares such that the total of
       all beneficial interests of Opilac (Subco) is now 5.83% of the total issued ARM Shares.


22 April 2016
Johannesburg

UBS South Africa Proprietary Limited
Financial adviser and transaction sponsor

Deutsche Securities (SA) Proprietary Limited
JSE sponsor

Jongisa Magagula
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Email: jongisa.magagula@arm.co.za

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