Dealings in securities by a director and by a director of a major subsidiary of the company AFRICAN AND OVERSEAS ENTERPRISES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1947/027461/06) JSE share code: AOO ISIN: ZAE000000485 JSE share code: AON ISIN: ZAE000009718 JSE share code: AOVP ISIN: ZAE000000493 ("AOE" or "the company") DEALINGS IN SECURITIES BY A DIRECTOR AND BY A DIRECTOR OF A MAJOR SUBSIDIARY OF THE COMPANY Shareholders are advised of the following information relating to the allocation of nil cost options and the awarding of nil cost shares under the African and Overseas Enterprises Limited Incentive Scheme ("the Plan") housed within the African and Overseas Share Trust. The nil cost options will vest in three tranches on 7 June 2020, 7 June 2021 and 7 June 2022 (subject to the provisions of the Plan) and once fully vested will result in the issue of 63 360 "N" ordinary shares. Name of director: WD Nel Acceptance date: 25 June 2019 Class of security: "N" ordinary shares Price per security: Nil cost options Number of securities: 31 680 Deemed price per security: R30.00 Deemed total value: R950 400.00 Nature of transaction: Off-market allocation of nil cost options under the Plan Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: CL Lloyd Name of major subsidiary: Rex Trueform Group Limited Acceptance date: 23 June 2019 Class of security: "N" ordinary shares Price per security: Nil cost options Number of securities: 31 680 Deemed price per security: R30.00 Deemed total value: R950 400.00 Nature of transaction: Off-market allocation of nil cost options under the Plan Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Shareholders are further advised of the following information relating to the acceptance of nil cost shares awarded on 7 June 2019 under the Plan. All these nil cost shares vested immediately upon acceptance of the award (subject to the provisions of the Plan). Name of director: WD Nel Acceptance date: 25 June 2019 Class of security: "N" ordinary shares Price per security: Nil cost shares Number of securities: 31 680 Deemed price per security: R30.00 Deemed total value: R950 400.00 Nature of transaction: Off-market allocation of nil cost shares under the Plan Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes Name of director: CL Lloyd Name of major subsidiary: Rex Trueform Group Limited Acceptance date: 23 June 2019 Class of security: "N" ordinary shares Price per security: Nil cost shares Number of securities: 31 680 Deemed price per security: R30.00 Deemed total value: R950 400.00 Nature of transaction: Off-market allocation of nil cost shares under the Plan Nature and extent of director's interest: Direct beneficial Clearance to deal received: Yes 27 June 2019 Sponsor Java Capital Date: 27/06/2019 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.