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RCL FOODS LIMITED – Dealings in share appreciation rights (SARs) by a director

RCL 201610050038A

Dealings in share appreciation rights (“SARs”) by a director



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”) BY A DIRECTOR



The following transaction is disclosed in relation to SARs which

were awarded on 5 September 2012. SARs award prices and exercise

prices were determined as the 5-day VWAP as at the respective

award and exercise dates:



Director : P D Cruickshank

Company : RCL Foods Sugar & Milling Pty

Ltd, a major subsidiary of the

Company

Date of transaction : 28 September 2016

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 : 96,457

SARs award price : R13.20

SARs exercise price : R14.84

Total gain on transaction : 158,189.48

Equivalent number of shares : 10,659

Nature of interest : Direct beneficial

Clearance obtained : Yes





Durban

05 October 2016



Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)



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