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RCL FOODS LIMITED – Dealings in share appreciation rights (SARs) and securities by a director of a major subsidiary

RCL 201703310052A

Dealings in share appreciation rights (“SARs”) and securities by a director of a major subsidiary



RCL FOODS LIMITED

(Incorporated in the Republic of South Africa)

(Registration number: 1966/004972/06)

ISIN: ZAE000179438

Share Code: RCL

(“the Company”)



DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) AND SECURITIES BY A

DIRECTOR OF A MAJOR SUBSIDIARY



The following transactions are disclosed in relation to SARs which

were awarded on 2 June 2010 and are due to expire on 2 June 2017.

SARs award prices and exercise prices were determined as the 5-day

volume weighted average price (VWAP) as at the respective award

and exercise dates:



Director : DS Pitman

Company : RCL Foods Consumer Pty Ltd, a

major subsidiary of the Company

Date of transaction : 27 March 2017

Nature of transaction : Off-market acceptance and

exercise of SARs which are

subsequently equity settled in

accordance with the RCL Foods

Limited Share Appreciation Rights

Scheme

Class of securities : SARs in respect of ordinary

shares

Number of SARs exercised : 387,663

SARs award price : R14.73

SARs exercise price : R16.20

Total gain on transaction : R569,851.20

Equivalent number of shares : 35,176

Nature of interest : Direct beneficial

Clearance obtained : Yes



Director : DS Pitman

Company : RCL Foods Consumer Pty Ltd, a

major subsidiary of the Company

Date of transaction : 29 March 2017

Nature of transaction : On-market sale of shares

Number of shares : 35,176

Highest price traded : R15.30

Lowest price traded : R14.65

Volume weighted average price : R14.95

Total value of transaction : R525,952.17

Nature of interest : Direct beneficial

Clearance obtained : Yes





Durban

31 March 2017



Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)



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