MERAFE RESOURCES LIMITED - Dealings in Securities by Directors

Dealings in Securities by Directors

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

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 06 March 2017 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:                        06 March 2017
Nature of transaction:                   Vesting of shares in terms of the
                                         Scheme
Number of shares vested:                 759 575
Issued price per share:                  Nil
Strike price per share                   R1.87
Total value of shares vesting:           R1,420,405
Total settlement value:                  R1,420,405
Type of trade:                           Off market
Class of security:                       Ordinary shares
Extent of director's
interest in the transaction:              Direct beneficial


Name of director:                        Kajal Bissessor
Transaction date:                        06 March 2017
Nature of transaction:                   Vesting of shares in terms of the
                                         Scheme
Number of shares vested:                 166 600
Issued price per share:                  Nil
Strike price per share                   R1.87
Total value of shares vesting:           R311,542
Total settlement value:                  R311,542
Type of trade:                           Off market
Class of security:                       Ordinary shares
Extent of director's
interest in the transaction:             Direct beneficial




Sandton
07 March 2017

Sponsor:
Merrill Lynch South Africa Proprietary Limited

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