AFRICAN & OVERSEAS ENTERPRISES LIMITED - Dealings in securities by a director and by a director of a major subsidiary of the company

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

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