BSI STEEL LIMITED - DEALING IN SECURITIES BY DIRECTORS AND THE COMPANY SECRETARY

DEALING IN SECURITIES BY DIRECTORS AND THE COMPANY SECRETARY

BSI STEEL Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/023164/06)
JSE code: BSS
ISIN: ZAE000125134
(“BSI” or "the company")


DEALING IN SECURITIES BY DIRECTORS AND THE COMPANY SECRETARY

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the
company hereby discloses the following dealings in the company’s securities by directors
and the company secretary in terms of which the directors and company secretary accepted
equity-settled share appreciation rights granted by the company in terms of the BSI Share
Appreciation Rights Scheme (“the Scheme”):

Name of directors of BSI:         Emmerentia Vermaak – Financial Director            (1)
                                  Kevin Paxton - Executive director, Chief Operating
                                  Officer                                            (2)
                                  Craig Parry – Executive director, Chief Executive
                                  Officer                                             (3)

Company secretary of BSI:         Stephen Hackett                                     (4)


Date of grant:                    27 June 2016
Date of acceptance:               27 June 2016
Class of securities:              Equity-settled share appreciation rights (“SARs”)

Grant price (cents):              40

Vesting date:                     30 June 2018

Number of SARs granted:             350 000                                     (1)
                                  3 500 000                                     (2)
                                  8 000 000                                     (3)
                                    200 000                                     (4)

Total Rand value of the SARs      R 140 000.00                                  (1)
                                  R 1 400 000.00                                (2)
                                  R 3 200 000.00                                (3)
                                  R 80 000.00                                   (4)

Nature of interest:               Direct beneficial

Nature of transaction:            Acceptance of SARs granted to the directors and
                                  company secretary in terms of the Scheme. The vesting
                                  of the SARs is subject to certain performance conditions
                                   being fulfilled by the vesting date.
                                   (Off-market transaction)

Clearance obtained                 Yes

28 June 2016
Designated Advisor:
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 29/06/2016 03:26:00 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.