CLOVER INDUSTRIES LIMITED - Dealings in share appreciation rights (SARS) by former director

Dealings in share appreciation rights (“SARS”) by former director

Clover Industries Limited
Incorporated in the Republic of South Africa
(Registration No. 2003/030429/06
Ordinary Share code: CLR ISIN N0: ZAE000152377
Preference Share code: CLRP ISIN No: ZAE000152385
(“Clover”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) BY FORMER DIRECTOR*

Director                        :   H B Roode
Company                         :   Clover Industries Limited
Date of transaction             :   1 July 2013
Nature of transaction           :   Exercise of SARs which are
                                    subsequently equity settled in
                                    accordance with the Restated
                                    Clover Share Appreciation Rights
                                    Plan
Class of securities             :   SARs in respect of ordinary
                                    shares
Number of SARs exercised        :   1 744 508
Allocation price                :   R4.67
SAR strike price                :   R16.83
Total value of transaction      :   R21 213 217.28
Total number of shares issued   :   1 260 440 ordinary shares of 5
                                    cents each at an issue price of
                                    R16.83 per share
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes
Transaction completed           :   Off market

Director                        :   H B Roode
Company                         :   Clover Industries Limited
Date of transaction             :   1 July 2013
Nature of transaction           :   Exercise of SARs which are
                                    subsequently cash settled in
                                    accordance with the Restated
                                    Clover Share Appreciation Rights
                                    Plan
Class of securities             :   SARs in respect of ordinary
                                    shares
Number of SARs exercised        :   133 334
Allocation price                :   R0
SAR strike price                :   R17.74
Total value of transaction      :   R2 365 345.16
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes
Transaction completed           :   Off market

*As announced on the Stock Exchange News Service on 1 October
2012, Mr Roode retired from the board of Clover with effect from
30 June 2013. Nevertheless, and in the interests of good corporate
governance, his dealings have been disclosed voluntarily.
Johannesburg
1 July 2013

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

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