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Acceptance of Awards of Performance Shares: Long-Term Incentive Plan ('LTIP')

Wednesday, 15 October 2014

AECI Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/002590/06)
Share Code: AFE
ISIN: ZAE000000220
(“AECI” or “the Company”)

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

In terms of the rules of the LTIP, participants were allocated performance shares in 2014.  These will convert into AECI ordinary shares and will vest after three years, subject to the performance conditions attached to each allocation being met.  The performance shares were issued at the grant price as indicated and were accepted off-market on 14 October 2014 by the Company’s Executive Directors as follows:


Executive Director No. of performance sharesGrant priceValue
MA Dytor17 956 R115,97R2 082 357,32
KM Kathan13 724 R115,97R1 591 572,28

Clearance has been obtained by both the above-mentioned Executive Directors for the acceptance of the awards.  All interests are direct beneficial.

Woodmead, Sandton
15 October 2014

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

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