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Dealings in Securities
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
A. Equity settlement of conditional shares
In terms of paragraphs 3.63 to 3.66 of the Listings Requirements of the JSE
Limited ("the Listings Requirements"), we hereby provide the following
information regarding the equity settlement of conditional shares by ARM to
the undermentioned Directors and Prescribed Officer of the Company, and the
undermentioned Directors of Two Rivers Platinum Proprietary Limited and ARM
Mining Consortium Limited, major subsidiaries of the Company. These awards
were made in terms of The African Rainbow Minerals Limited 2018 Conditional
Share Plan (the "2018 CSP") and on recommendation of the Remuneration
Committee, approved by ARM's Board of Directors. The calculation of the gross
value of conditional shares vested is based upon the closing ARM share price
of R180.14 on 7 December 2023.
Conditional shares
Date of transaction 18 December 2023
Nature of transaction Equity settlement of conditional shares in
terms of the 2018 CSP by means of on-
market purchase of shares in the market
Date of award 7 December 2020
Vesting date for settlement 8 December 2023
Class of securities Ordinary shares
Extent of interest Direct, beneficial
1
Name Designation Number of Gross value Number of Number of Value of
conditional of vested shares conditional conditional
shares shares at withheld shares shares
vested vesting to cover settled on settled
date tax a net of (R)
(before tax liability tax basis
liability) **
(R)
PT Motsepe, Executive 141 638 25 514 669 - 141 638 25 131 284
Dr * Chairman
TTA Mhlanga Finance 55 076 9 921 391 25 019 30 057 5 333 110
Director
HL Mkatshana Executive 52 777 9 507 249 23 975 28 802 5 110 431
Director ***
MP Schmidt Prescribed 123 500 22 247 290 56 102 67 398 11 958 643
Officer
A Joubert Prescribed 60 329 10 867 666 27 406 32 923 5 841 633
Officer
NV Khumalo Director of 31 604 5 693 145 14 357 17 247 3 060 190
Two Rivers
Platinum
Proprietary
Limited, a
major
subsidiary
of ARM
BR Tshabalala Director of 29 474 5 309 446 13 389 16 085 2 854 013
ARM Mining
Consortium
Limited, a
major
subsidiary of
ARM
The calculation of the value of the conditional shares settled is based upon the
volume weighted average price of shares purchased in settlement, being R177.4332,
with a low of R173.60 per share and a high of R184.89 per share.
The requisite clearances and approvals for these transactions have been
obtained in compliance with the securities dealing policies and procedures of
ARM and paragraph 3.66 of the Listings Requirements.
*Dr PT Motsepe has elected to pay for the tax liability from his own resources.
**The number of shares withheld to cover tax liability is determined based on the
20-day volume weighted average share price on the vesting date, i.e. 8 December
2023, of R178.45, in accordance with the provisions of the 2018 CSP rules.
***Mr HL Mkatshana was an Executive Director of ARM at the time the
conditional shares vested. Mr Mkatshana is now a Prescribed Officer of ARM.
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 PT Motsepe, to transfer his shares acquired by market
purchase 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 PT Motsepe and his
immediate family. The Motsepe Foundation applies the benefits emanating from
its indirect shareholding in ARMI for philanthropic purposes.
Date of transaction 18 December 2023
Nature of transaction Off-market transfer of shares to ARMI
with beneficial ownership as described
above
Deemed price of securities Volume weighted average price of shares
transferred purchased in settlement, being R177.4332,
with a low of R173.60 per share and a high
of R184.89 per share.
Class of securities Ordinary shares
Nature of interest Indirect, beneficial
Clearance to deal Yes
Name Designation Number of Ordinary Total value
shares transferred (before tax
liability) of
shares
transferred
R
PT Motsepe, Dr Executive Chairman 141 638 25 131 284
The calculation of the value of the shares transferred is based upon the volume
weighted average price of shares purchased in settlement, being R177.4332, with a
low of R173.60 per share and a high of R184.89 per share.
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
21 December 2023
Sponsor to ARM:
Investec Bank Limited
Date: 21-12-2023 11:52:00
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