AFRICAN RAINBOW MINERALS LIMITED - Dealings in securities by Directors and the Group Company Secretary and Governance Officer

Dealings in securities by Directors and the Group Company Secretary and Governance Officer

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”)

Dealings in securities by Directors and the Group Company Secretary and
Governance Officer


A. Exercise of share options and acquisition of shares

The exercise of share options and acquisition of shares by subscription
by the Executive Chairman of ARM.

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements
of the JSE Limited (“the Listings Requirements”), the following
information is provided regarding the exercise of share options and
acquisition of shares by subscription by the Executive Chairman of ARM:

In terms of the ARM Share Incentive Scheme the share options described
below will expire on 15 October 2020, if not exercised by this date.


Name of director               Dr Patrice Motsepe
Category of director           Executive Chairman
Date of transaction            4 September 2020
Nature of transaction          Exercise of share options and off-market
                               acquisition of shares by subscription
Class of securities            Ordinary shares
Offer price                    22 964 options at R168.37 per share
                               option; granted on 15 October 2012 and
                               vested on 16 October 2016
Number of securities           22 964
Market price of securities     Closing price of R207.04 per ARM share on
                               Friday, 4 September 2020
Total market value of          R4 754 466.56
securities
Nature of interest             Direct, beneficial
Clearance to deal              Yes


B. Transfer of shares

In terms of paragraphs 3.63 to 3.66 of the Listings Requirements, the
following information is provided regarding the election by the Executive
Chairman of ARM, Dr Patrice Motsepe, to transfer his shares acquired by
subscription as described in “A” above to African Rainbow Minerals &
Exploration Investments Proprietary Limited (“ARMI”). The shares of ARMI
are indirectly held and beneficially owned by trusts, which trusts, with
the exception of The Motsepe Foundation, hold those shares for the benefit
of Dr Patrice Motsepe and his immediate family. The Motsepe Foundation
applies the benefits emanating from its indirect shareholding in ARMI for
philanthropic purposes. 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.


Date of transaction               4 September 2020
Name of director                  Dr Patrice Motsepe
Category of director              Executive Chairman
Nature of transaction             Off-market transfer of shares to ARMI
                                  with no change in beneficial ownership

Class of securities               Ordinary shares
Number of securities              22 964
Market value of securities        Closing price of R207.04 per share on
                                  Friday, 4 September 2020
Total market value of             Total value of shares transferred -
transaction                       R4 754 466.56
Nature of interest                Indirect, beneficial
Clearance to deal                 Yes


C. Exercise of share options

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements,
the following information is provided regarding the exercise of share
options by the undermentioned Directors and Group Company Secretary and
Governance Officer of ARM:

In terms of the ARM Share Incentive Scheme the share options described
below will expire on 15 October 2020 and on 29 October 2021 respectively,
if not exercised by those dates.


1. Name of Director           Michael Peter Schmidt
Category of director          Chief Executive Officer
Date of transaction           7 September 2020
Nature of transaction         Exercise of share options settled by on-
                              market sale of shares
Class of securities           Ordinary shares
Offer price                   15 963 options at R200.75 per share
                              option; granted on 29 October 2013 and
                              vested on 30 October 2017
Number of securities          15 963
Market price of securities    Closing price of R213.85 per ARM share on
                              Monday, 7 September 2020
Total market value of         R3 413 687.55
securities
Nature of interest            Direct, beneficial
Clearance to deal             Yes


2. Name of Director           Jongisa Magagula
Category of director          Executive Director
Date of transaction           4 September 2020
Nature of transaction         Exercise of share options settled by on-
                              market sale of shares
Class of securities           Ordinary shares
Offer price                   2 548 options at R168.37 per share
                              option; granted on 15 October 2012 and
                              vested on 16 October 2015
Number of securities          2 548
Market price of securities    Closing price of R207.04 per ARM share on
                              Friday, 4 September 2020
Total market value of         R527 537.92
securities
Nature of interest            Direct, beneficial
Clearance to deal             Yes


3. Name of Group Company      Alyson Nerene D’Oyley
   Secretary and Governance
   Officer
Category of executive         Group Company Secretary and Governance
                              Officer
Date of transaction           4 September 2020
Nature of transaction         Exercise of share options settled by on-
                              market sale of shares
Class of securities           Ordinary shares
Offer price                   3 055 options at R168.37 per share
                              option; granted on 15 October 2012 and
                              vested on 16 October 2015
                              2 865 options at R200.75 per share
                              option; granted on 29 October 2013 and
                              vested on 30 October 2016
Number of securities          5 920
Market price of securities    Closing price of R207.04 per ARM share on
                              Friday, 4 September 2020
Total market value of         R1 225 676.80
securities
Nature of interest            Direct, beneficial
Clearance to deal             Yes
The requisite clearances and approvals for these transactions were
obtained in compliance with the securities dealing policies and procedures
of ARM and paragraph 3.66 of the Listings Requirements.


Sandton
9 September 2020

Sponsor to ARM:
Investec Bank Limited

Date: 09-09-2020 02:39:00
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