Dealing in securities

The Group observers a closed period from the end of the relevant accounting period to the announcement of the interim or year-end results, and any period when the Company is trading under a cautionary announcement, during which neither directors nor employees may deal, either directly or indirectly, in the shares of the Company or its listed subsidiaries.  Certain employees, by virtue of the positions or access to information, are also prohibited from trading during certain periods.  The Morokotso Trust (ESOP) is allowed to trade during a closed period as no measure of discretion is applied during the routine trading of shares by participants. The Trust is not a share-incentive scheme in terms of the JSE Listing Requirements and the provisions of Schedule 14.9(d) do not apply to the ESOP.  All directors’ dealings require the prior approval of the Chairman and the Company Secretary retains a record of all such dealings and approvals.