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CLOVER INDUSTRIES LIMITED - Dealings in share appreciation rights ("SARs") by an executive director

Release Date: 22/06/2016 10:00
Code(s): CLR     PDF:  
Wrap Text
Dealings in share appreciation rights ("SARs") by an executive director

Clover Industries Limited
Incorporated in the Republic of South Africa
(Registration No. 2003/030429/06
JSE Ordinary Share code: CLR
NSX Ordinary Share code: CLN
ISIN No: ZAE000152377
("Clover" or “the Company”)

DEALINGS IN SHARE APPRECIATION RIGHTS (“SARs”) BY AN EXECUTIVE
DIRECTOR

Director                        :   J H Vorster
Company                         :   Clover Industries Limited
Date of transaction             :   21 June 2016
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        :   340 000
Allocation price                :   R13.73
SAR strike price                :   R18.72
Total value of transaction      :   R1 696 600
Total number of shares issued   :   90 630 ordinary shares of 5 cents
                                    each at an issue price of R18.72
                                    per share
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes
Transaction completed           :   Off market


Johannesburg
22 June 2016

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

NSX Sponsor
IJG Securities

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