MONTAUK HOLDINGS LIMITED - Acquisition of Montauk shares by director pursuant To the exercise and net settlement of Share Appreciation Rights

Acquisition of Montauk shares by director pursuant To the exercise and net settlement of Share Appreciation Rights

MONTAUK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/017811/06)
(Share code: MNKI & ISIN: ZAE000197455)
("Montauk" or "the Company")

ACQUISITION OF MONTAUK SHARES BY DIRECTOR PURSUANT TO THE EXERCISE AND
NET SETTLEMENT OF SHARE APPRECIATION RIGHTS

In compliance with Rules 3.63 - 3.74 of the JSE Limited Listing
Requirements the following information regarding the off-market
acquisition of Montauk shares by directors pursuant to the exercise
and net settlement of share appreciation rights (SARs) previously
granted in terms of the Montauk Holdings Limited Share Appreciation
Rights Scheme for US Affiliates is disclosed:


Director:                         Mr S F McClain
Designation:                      Chief executive officer
Nature of transaction:            Off market acquisition of Montauk
                                  shares pursuant to the exercise and
                                  net settlement of Montauk SARs
                                  previously granted
Class of securities:              Ordinary shares
Nature of interest:               Direct beneficial
Date of exercise and acquisition: 20 December 2019
Number of SARs exercised:         25 000
Strike price of SARs exercised:   R8.50
Number of shares acquired:        18 841
Purchase price per share:         R34.50
Total value of transaction:       R650 014.50



Director:                         Mr S F McClain
Designation:                      Chief executive officer
Nature of transaction:            Off market acquisition of Montauk
                                  shares pursuant to the exercise and
                                  net settlement of Montauk SARs
                                  previously granted
Class of securities:              Ordinary shares
Nature of interest:               Direct beneficial
Date of exercise and acquisition: 20 December 2019
Number of SARs exercised:         25 000
Strike price of SARs exercised:   R18.50
Number of shares acquired:        11 594
Purchase price per share:         R34.50
Total value of transaction:       R399 993


Clearance in respect of par 3.66 of the JSE Listings Requirements was
obtained.


Cape Town
23 December 2019

Sponsor: Investec Bank Limited

Date: 23-12-2019 07:30:00
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