AFRICAN RAINBOW MINERALS LIMITED - Dealing in securities by a director of ARM

Dealing in securities by a director of ARM

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”)

DEALING IN SECURITIES BY A DIRECTOR OF ARM

Equity settlement of performance shares

In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the
JSE Limited (“the Listings Requirements”), we provide the following
information regarding the equity settlement of performance shares by
ARM to the undermentioned Finance Director of the Company.        
These awards were made in terms of The African Rainbow Minerals Limited 2008
Share Plan and on recommendation of the Remuneration Committee,
approved by ARM’s Board of Directors. The calculation for the equity
settlement of these shares is based upon the closing ARM share price of
R135.00 on 15 May 2020.

Performance shares
Date of transaction               15 June 2020
Nature of transaction             Equity settlement of performance
                                  shares in terms of The African Rainbow
                                  Minerals Limited 2008 Share Plan in
                                  off-market transactions
Date of award                     15 May 2017
Vesting date for settlement       18 May 2020
Class of securities               Ordinary shares
Extent of interest                Direct, beneficial

Name           Designation                     Number of     Gross value
                                             performance     (before tax
                                          shares settled      liability)
                                                                     R 1
A M Mukhuba    Finance Director                   43 829   R5 916 915.00

1 The gross value is at vesting date, and is calculated using the ARM
closing share price on 15 May 2020 of R135.00.

The requisite clearances and approvals for this transaction have been
obtained in compliance with the securities dealing policies and
procedures of ARM and paragraph 3.66 of the Listings Requirements.

Sandton
17 June 2020

Sponsor to ARM:
Investec Bank Limited

Date: 17-06-2020 09:00:00
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