TORRE INDUSTRIES LIMITED - Grant and acceptance of conditional share awards by directors of Torre and a major subsidiary of Torre

Grant and acceptance of conditional share awards by directors of Torre and a major subsidiary of Torre

Torre Industries Limited
(Incorporated in the Republic of South Africa)
(Registration number 2012/144604/06)
Share code: TOR
ISIN Code: ZAE000188629
(“Torre” or “the Company”)

GRANT AND ACCEPTANCE OF CONDITIONAL SHARE AWARDS BY DIRECTORS OF
TORRE AND A MAJOR SUBSIDIARY OF TORRE

In terms of the Listings Requirements of the JSE Limited, we
hereby provide the following information regarding the granting
and acceptance of conditional share awards by Torre to the
undermentioned directors of the Company and a major subsidiary
company. Conditional share awards are subject to performance
(primarily earnings and Balance Sheet growth) and retention
conditions. The necessary authority in terms of paragraph 3.66 was
obtained and these were off-market transactions:

Date of acceptance                  :    13 September 2017

Nature of transaction               :    Grants and acceptance
                                         of conditional share
                                         awards by qualifying
                                         employees in terms of
                                         the Torre Conditional
                                         Share Plan

Strike price                        :    Nil (no consideration,
                                         however vesting is
                                         linked to the
                                         achievement of
                                         performance and
                                         retention conditions)

Class of security                   :    Ordinary shares

Nature of interest                  :    Direct beneficial


Name of        Designation       Number of        Notional    Vesting date
Director       and company          shares          Value*      for awards
                                subject to
                               Conditional
                                    awards


Jon Hillary    Executive        16,296,296     R21,511,111    30 June 2020
               Deputy
               Chairman of
               Torre
               Industries
               Ltd


Johan Botes    Chief               571,650        R754,578     7 September
               Executive                                              2020
               Officer of
               Torre
               Industries
               Ltd


Shivan         Chief               448,831        R592,457     7 September
Mansingh       Financial                                              2020
               Officer of
               Torre
               Industries
               Ltd


Kevin Rogers   Managing            383,897        R506,744     7 September
               Director of                                            2020
               Torre Parts
               and
               Components
               (Pty) Ltd


Frans Lombard  Financial           345,508        R456,071     7 September
               Director of                                            2020
               Torre Parts
               and
               Components
               (Pty) Ltd




*Based on the closing price on 13 September 2017 of R1.32 per
share.

Johannesburg
14 September 2017

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

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