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AECI Limited: LTIP shares purchase

Thu 23rd July, 2020 9:03am
AECI LIMITED

Incorporated in the Republic of South Africa

(Registration number: 1924/002590/06)

Share code: AFE ISIN: ZAE000000220

Hybrid code: AFEP ISIN: ZAE000000238

Bond company code: AECI

LEI: 3789008641F1D3D90E85

(“AECI”)

DEALINGS IN SECURITIES ON BEHALF OF THE AECI LONG-TERM INCENTIVE PLAN (THE
“LTIP”)

In compliance with the JSE Limited Listings Requirements (“Listings
Requirements”), shareholders and noteholders are advised that AECI had
entered into an agreement with Investec Bank Limited (“Investec”), an
independent third party broking firm, to purchase AECI ordinary shares
(“Shares”) on behalf of the LTIP, in order to settle the obligations to
its participants in respect of the Performance Shares (as defined in the rules
of the LTIP) that vested on 30 June 2020, in a non-dilutive manner in
accordance with the rules of the LTIP.

Shares were purchased in terms of an approved share purchase programme, with
binding instructions having been provided to the broker ahead of the closed or
prohibited period.

The following information is disclosed in compliance with the Listings
Requirements:

Name of share scheme:
                                          
LTIP

Company:
                                                    
AECI

Nature of transaction:
                               On-market
purchase of Shares by Investec on behalf of the LTIP to settle the obligations
to the LTIP participants

Class of securities:
                                     
Ordinary shares

Extent of
interest:                                       
Indirect non-beneficial (purchased by Investec acting as agent on behalf of
the AECI LTIP vesting account)

Clearance to deal obtained:                      Yes

  Date of transaction  No. of shares acquired  VWAP (R)  Price High (R)  Price Low (R)  Value of transaction (R) 
         21 July 2020                 113 689     78,02           79,23          77,13                 8 870 016 
         22 July 2020                  22 147     78,83           79,76          77,08                 1 745 848 

Woodmead, Sandton

23 July 2020

Sponsor:

Rand Merchant Bank (A division of FirstRand Bank Limited)



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