Stock Exchange News Service

Change in the nature of a director’s holdings of the company’s securities

MAS Real Estate Inc.
Registered in the British Virgin Islands
Registration number 1750199
Registered as an external company in the Republic of South Africa
Registration number 2010/000338/10
SEDOL (EMTF): B96VLJ5
SEDOL (JSE): B96TSD2
JSE share code: MSP
ISIN: VGG5884M1041
(“MAS” or the “Company”)


CHANGE IN THE NATURE OF A DIRECTOR’S HOLDINGS OF THE COMPANY’S SECURITIES


Further to the announcement released on 22 March 2017, shareholders are advised that the dealing in
securities of MAS by Gideon Oosthuizen as part of a subscription for shares pursuant to a book build
process undertaken by the Company on 17 March 2017 is now being effected through Gondomark (Pty)
Ltd, which is 100% beneficially held by Gideon Oosthuizen.

Name of associate:                           Gondomark (Pty) Ltd
Transaction date:                            17 March 2017
Class of securities:                         Ordinary shares
Number of securities:                        240 000
Price per security:                          ZAR 21.00
Total value of transaction:                  ZAR 5 040 000.00
Nature of transaction:                       Off-market subscription for shares
Nature and extent of director's interest:    Indirect beneficial
Clearance to deal received:                  Not applicable

In accordance with the requirements of the EU Market Abuse Regulation, the notification and public
disclosure of transactions by persons discharging managerial responsibilities and persons closely
associated with them is set out below:

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name                      Gondomark (Pty) Ltd
2. Reason for the notification
a) Position / status          Person Closely Associated with a Person Discharging Managerial
                              Responsibilities – which is 100% beneficially held by Gideon Oosthuizen
b) Initial notification /     Amendment – Gideon Oosthuizen, a PDMR of the Issuer, wishes for the
   amendment                  shares, which were acquired through an off-market purchase, to be
                              registered in the name of Gondomark (Pty) Ltd, a private limited liability
                              company of which he is the sole beneficial owner, and not in his personal
                              capacity as was announced on the Luxembourg Stock Exchange website
                              and reported to the Commission de Surveillance du Secteur Financier on
                              22 March 2017
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or
   auction monitor
a) Name                       MAS Real Estate Inc.
b) LEI
4. Details of the transaction(s)
   section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each
   date; and (iv) each place where transactions have been conducted
a) Description of the         Ordinary Shares
   financial instrument, type
   of instrument
   Identification code        ISIN: VGG5884M1041
b) Nature of the transaction  Off-market purchase of ordinary shares
c) Price(s) and volume(s)     Price(s)                                                 Volume(s)
                              Price per Security: ZAR 21.00                            240 000
d) Aggregated information
   — Aggregated volume        240 000
   — Price                    ZAR 21.00
e) Date of the transaction    17 March 2017
f) Place of the transaction   Outside trading venue

MAS holds a dual primary listing on the Main Board of the JSE and the Euro MTF Market of the LuxSE.


29 March 2017

For further information please contact:
Sarah King, Acting Company Secretary, MAS Real Estate Inc.                +44 1624 625000
Java Capital, JSE Sponsor                                                 +27 11 722 3050
Charl Brand, M Partners, Luxembourg                                       +352 263 868 602

Date: 29/03/2017 02:30:00 
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