CLOVER INDUSTRIES LIMITED - Dealing in securities by an executive director of the company

Dealing in securities by an executive director of the company

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

DEALING IN SECURITIES BY AN EXECUTIVE DIRECTOR OF THE COMPANY

In compliance with the JSE Limited Listings Requirements, the
following information is disclosed:

Director                         :   Johann Hendrik Vorster
Date of transaction              :   29 September 2017
Class of securities              :   European Options over Clover
                                     ordinary shares
Nature of transaction            :   Off-market collar hedge over
                                     350 000 ordinary shares of
                                     the Company with a put strike
                                     price of R13.35 and a call
                                     strike price of R14.69 and
                                     expiry on 27 September 2019
Initial price per share          :   R13.35
Notional put value on expiry     :   R4 672 500
Notional call value on expiry    :   R5 141 500
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Director                         :   Johann Hendrik Vorster
Date of transaction              :   29 September 2017
Class of securities              :   European Options over Clover
                                     ordinary shares
Nature of transaction            :   Off-market collar hedge over
                                     350 000 ordinary shares of
                                     the Company with a put strike
                                     price of R13.35 and a call
                                     strike price of R14.69 and
                                     expiry on 13 December 2019
Initial price per share          :   R13.35
Notional put value on expiry     :   R4 672 500
Notional call value on expiry    :   R5 151 500
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Mr Vorster entered into a financing agreement with a financial
institution which consists of a loan agreement securitised by a
simultaneous collar hedge and equity lending transaction.

Johannesburg
2 October 2017

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

NSX Sponsor
IJG Securities

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