ADCORP HOLDINGS LIMITED - Dealing in securities by directors

Dealing in securities by directors

Adcorp Holdings Limited
Registration number 1974/001804/06
Share code: ADR
ISIN number: ZAE000000139
(“Adcorp”)

DEALING IN SECURITIES BY DIRECTORS

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed in respect of an off-market award and
acceptance of Performance Shares (PFs) and Share Appreciation Rights
(SARs) in respect of Adcorp ordinary shares to Adcorp directors. The PFs
and SARs do not have performance criteria as these are sign on retention
shares:

Name of director:             I Dutiro
Date of acceptance:           9 February 2018
Nature of transaction:        Acceptance of Performance Shares
Number of shares:             930 533
Vesting date:                 2 February 2021
Fair market price on
date of allocation:           R17.67 (PFs have a strike price of zero)
Total value:                  R16 442 518.11
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes


Name of director:             I Dutiro
Date of acceptance:           9 February 2018
Nature of transaction:        Acceptance of Share Appreciation Rights
Number of shares:             1 500 000
Vesting date:                 One third on 2 February 2021, second third
                              on 2 February 2022 and final third on 2
                              February 2023
Strike price:                 R17.67
Total value:                  R26 505 000
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes


Name of director:             MA Jurgens
Date of acceptance:           9 February 2018
Nature of transaction:        Acceptance of Performance Shares
Number of shares:             391 466
Vesting date:                 2 February 2021
Fair market price on
date of allocation:           R17.67 (PFs have a strike price of zero)
Total value:                  R6 917 204.22
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes
Name of director:             CJ Kujenga
Date of acceptance:           9 February 2018
Nature of transaction:        Acceptance of Performance Shares
Number of shares:             241 000
Vesting date:                 2 February 2021
Fair market price on
date of allocation:           R17.67 (PFs have a strike price of zero)
Total value:                  R4 258 470
Nature of interest:           Direct Beneficial
Clearance obtained:           Yes



9 February 2018
Bryanston

Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd

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