Director/PDMR Shareholding

Masawara PLC

(the "Company")

Director/PDMR Shareholding

Masawara plc was informed on 5 December 2014 that FMI Holdings (Private) Limited ("FMI"), a company controlled by Shingai Mutasa, a Director of the Company, purchased 1,476,243 ordinary shares of USD 0.01 each in the Company ("Ordinary Shares") on 7 November 2014, at a price of 53 pence per share. Following this purchase, FMI holds 63,158,373 Ordinary Shares representing approximately 51.32 per cent. of the Company's issued share capital.

About Masawara

Masawara is a proactive investment company focused on identifying growth opportunities that deliver cash returns both in Zimbabwe and the southern African region. The Company continues to appraise high quality new investment opportunities in Zimbabwe to add to the investment portfolio and unlock intrinsic value from the existing investment portfolio.

Contact details

Masawara plc

Oliver Lutz/Pride Masamba +263 4 751805

Cenkos Securities plc (Nominated adviser and broker)

Nicholas Wells +44 20 7397 8900