AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Dealings in securities by a director and allocation of Share Appreciation Rights Dealings in securities by a director and allocation of Share Appreciation Rights Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share code: AEL ISIN: ZAE000191342 ("Altron" or "the Company") DEALING IN SECURITIES BY A DIRECTOR AND ALLOCATION OF SHARE APPRECIATION RIGHTS (SARs) IN TERMS OF THE ALTRON 2009 SHARE PLAN In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Director Mr C Miller Designation Chief Financial Officer Company Altron Dealing in securities: Date of transaction 17 May 2019 Number of securities 161 138 Nature of transaction On-market purchase of securities Class of securities Altron A ordinary shares Share price R22.85 Value of transaction R3 682 003.30 Nature of interest Direct beneficial Clearance to deal obtained Yes Allocation of share appreciation rights (SARs) in terms of The Altron 2009 Share Plan: Mr Miller has been awarded 1 300 000 off-market allocation of SARs at an allocation price of R22.85 in accordance with the rules of The Altron 2009 Share Plan. The SARs are conditional on, inter alia, share price growth and the fulfilment of performance criteria, as imposed by the Altron Board. Subject to performance, vesting will occur in May 2022, May 2023 and May 2024. Allocation and acceptance date for above 20 May 2019 transaction Nature of interest for above transactions Direct beneficial Clearance to deal obtained Yes Johannesburg 21 May 2019 Sponsor Investec Bank Limited Date: 21/05/2019 01:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.