Transfer of Treasury Shares

11 August 2016

Masawara plc

("Masawara", the "Company" or the "Group")

Transfer of Treasury Shares

The Company announces that on 10 August 2016 it transferred 234,672 ordinary shares from its treasury account (representing 0.2% of the issued ordinary shares) at a price of 44.5p to satisfy employee remuneration.

Following the transfer of the shares from treasury, the Company's issued share capital consists of 123,796,142 ordinary shares, of which 43,533 ordinary shares are held in treasury. Therefore, the total number of ordinary shares with voting rights in the Company is 123,752,609.

The above figure (123,752,609) may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Contact details

Masawara plc

(Masawara Zimbabwe (Private) Limited, the Company's Investment Advisor in Zimbabwe)

Pridemore Masamba/ Rutendo Maziva

+263 4 751805

Cenkos Securities plc (Nominated adviser and broker)

Nicholas Wells/ Elizabeth Bowman/ Harry Hargreaves

 +44 20 7397 8900