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RCL FOODS LIMITED – DEALINGS IN SECURITIES BY DIRECTORS AND COMPANY SECRETARY AND DIRECTORS OF MAJOR SUBSIDIARIES

RCL 201405260043A
Dealings in Securities by Directors and Company Secretary and Directors of Major Subsidiaries

RCL FOODS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/004972/06)
ISIN: ZAE000179438
Share Code: RCL

DEALINGS IN SECURITIES BY DIRECTORS AND COMPANY SECRETARY AND DIRECTORS OF
MAJOR SUBSIDIARIES

In compliance with the JSE Limited Listings Requirements, the following
information is disclosed:

Share options issued to the following directors and company secretary on 1
August 2007 are due to expire on 1 August 2014. This expiry date will fall
within a closed period as the company’s financial year ends on 30 June 2014,
and consequently the options would lapse if not exercised by 30 June 2014.

In all of the following transactions, each participant in the share
incentive scheme has accepted and exercised the options issued to him, and
subsequently sold the shares issued.

Director : M Dally
Company : RCL Foods Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 1,188,688
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R18,079,944.48

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 1,188,688
Selling price : R17.00
Total value of transaction : R20,207,696.00

Director : R H Field
Company : RCL Foods Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 619,147
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R9,417,225.87

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 619,147
Selling price : R17.00
Total value of transaction : R10,525,499.00

Company Secretary : J M J Maher
Company : RCL Foods Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 45,052
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R685,240.92

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 45,052
Selling price : R17.00
Total value of transaction : R765,884.00

Director : D S Pitman
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 342,615
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R5,211,174.15

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 342,615
Selling price : R17.00
Total value of transaction : R5,824,455.00

Director : T J Harding
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 374,840
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R5,701,316.40

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 374,840
Selling price : R17.00
Total value of transaction : R6,372,280.00

Director : S B Heath
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 400,825
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R6,096,548.25

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 400,825
Selling price : R17.00
Total value of transaction : R6,814,025.00

Director : P D Cruickshank
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 74,288
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R1,129,920.48

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 74,288
Selling price : R17.00
Total value of transaction : R1,262,896.00

Director : W A De Wet
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 374,425
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R5,695,004.25

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 374,425
Selling price : R17.00
Total value of transaction : R6,365,225.00

Director : D S Milne
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 39,595
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R602,239.95

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 39,595
Selling price : R17.00
Total value of transaction : R673,115.00

Director : W E Schwimmbacher
Company : Rainbow Farms (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 48,057
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R730,946.97

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 48,057
Selling price : R17.00
Total value of transaction : R816,969.00

Director : C D Creed
Company : Vector Logistics (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 431,854
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R6,568,499.34

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 431,854
Selling price : R17.00
Total value of transaction : R7,341,518.00

Director : P E Gibbons
Company : Vector Logistics (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 45,547
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R692,769.87

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 45,547
Selling price : R17.00
Total value of transaction : R774,299.00

Director : R J Matthews
Company : Vector Logistics (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 37,100
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R564,291.00

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 37,100
Selling price : R17.00
Total value of transaction : R630,700.00

Director : S Pillay
Company : Vector Logistics (Pty) Limited

Date of transaction : 22 May 2014
Nature of transaction : Off market acceptance and exercise of
options
Class of securities : Options in respect of ordinary shares
Number of options accepted : 99,750
and exercised
Option grant date : 1 August 2007
Option grant price : R15.21
Total value of transaction : R1,517,197.50

Date of transaction : 23 May 2014
Nature of transaction : On market sale of securities
Class of securities : Ordinary shares
Number of securities : 99,750
Selling price : R17.00
Total value of transaction : R1,695,750.00

The nature of interest in respect of all of the parties above is direct
beneficial and clearance was obtained for each.

Durban
26 May 2014

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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