CLOVER INDUSTRIES LIMITED - Fulfilment of conditions precedent to formation of clover waters

Fulfilment of conditions precedent to formation of clover waters

CLOVER INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR
ISIN: ZAE000152377
Preference Share Code: CLRP
ISIN: ZAE000152385
(“the Company" or “Clover”)

FULFILMENT OF CONDITIONS PRECEDENT TO FORMATION OF CLOVER WATERS

Shareholders are referred to the announcement released on the
Stock Exchange News Service on 1 March 2013, advising that
Clover S.A. Proprietary Limited (“Clover SA”) and Nestlé South
Africa had formed a new entity, Clover Waters (Pty) Ltd (“Clover
Waters”) (“the transaction”).

Shareholders are advised that all outstanding conditions
precedent to the transaction have been fulfilled and that the
effective date of the transaction will be 1 August 2013.

Upon implementation of the transaction, Clover Waters will
acquire Nestlé South Africa’s Doornkloof property in Gauteng,
the bottled water manufacturing facility and its water rights.

Moreover, Clover Waters will acquire the right, by way of
license, to manufacture, distribute, market and sell bottled
mineral   water, under  Nestlé’s  Pure  Life®, Valvita®  and
Schoonspruit® brands, as well as iced tea under the Nestea
brand.

These brands will complement Clover SA’s Aquartz bottled water
and Manhattan iced tea brands which will also be manufactured,
distributed, marketed and sold by Clover Waters.

Johannesburg
24 May 2013

ENQUIRIES
Clover Industries Limited                 +27(0)11 471 1702
Johann Vorster – Chief Executive
Jacques van Heerden – Company Secretary

College Hill                               +27(0)11 447 3030
Morné Reinders                             +27(0 82 815 1844
Frédéric Cornet                            +27(0)83 307 8286

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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