TORRE INDUSTRIES LIMITED - Share dealings by a director and an associate of a director of Torre

Share dealings by a director and an associate of a director of Torre

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


SHARE DEALINGS BY A DIRECTOR AND AN ASSOCIATE OF A DIRECTOR OF
TORRE

In compliance with paragraphs 3.63 to 3.74 of the Listings
Requirements of the JSE Limited, the following dealings by a
director and an associate of a director of Torre are
disclosed:

COMPANY                          :   Torre Industries Limited
NAME OF DIRECTOR                 :   Roy Midlane
STATUS OF DIRECTOR               :   Chief Financial Officer of
                                     Torre
TYPE AND CLASS OF SECURITIES     :   Ordinary Shares
NATURE OF TRANSACTION            :   Off-market sale. Roy has
                                     entered into a Sale of
                                     Shares     agreement     with
                                     Stellar Capital Partners
                                     Ltd (“SCP”) to sell his
                                     shares      in    Torre    in
                                     exchange     for shares in
                                     SCP.     SCP    intends    to
                                     acquire up to 34.5% in
                                     Torre.    Accordingly,    Roy
                                     will    swap    his   current
                                     direct holding in Torre
                                     for   a    holding   in   the
                                     largest single shareholder
                                     in Torre
NATURE AND EXTENT OF
DIRECTOR’S INTEREST IN THE       :   Direct Beneficial
TRANSACTION
DATE OF ENTERING INTO SALE       :   30 June 2015
AGREEMENT
PRICE PER SHARE                  :   To be settled through an
                                     issue of 2.6 SCP shares
                                     for every 1 Torre share
                                     approximating a value per
                                     Torre share of R5.20
TOTAL NUMBER OF SECURITIES
TRANSACTED                       :   7 500 000
TOTAL RAND VALUE OF SECURITIES   :   R39 000 000
EXPECTED DATE OF SETTLEMENT      :   31 October 2015*
CONFIRMATION THAT CLEARANCE
HAS BEEN GIVEN IN TERMS OF
PARAGRAPH 3.66                   :   Yes

COMPANY                          :   Torre Industries Limited
NAME OF DIRECTOR                 :   Roy Midlane
NAME OF ASSOCIATE                    Midlane Family Trust
STATUS OF DIRECTOR               :   Chief Financial Officer of
                                     Torre
TYPE AND CLASS OF SECURITIES     :   Ordinary Shares
NATURE OF TRANSACTION            :   Off-market     sale.   The
                                     Midlane Family Trust has
                                     entered into a Sale of
                                     Shares    agreement   with
                                     Stellar Capital Partners
                                     Ltd (“SCP”) to sell his
                                     shares    in    Torre    in
                                     exchange for shares in
                                     SCP.   SCP    intends    to
                                     acquire up to 34.5% in
                                     Torre.   Accordingly,  The
                                     Midlane Family Trust will
                                     swap its current direct
                                     holding in Torre for a
                                     holding in the largest
                                     single    shareholder    in
                                     Torre
NATURE AND EXTENT OF             :   Indirect Beneficial
DIRECTOR’S INTEREST IN THE
TRANSACTION
DATE OF ENTERING INTO SALE       :   30 June 2015
AGREEMENT
PRICE PER SHARE                  :   To be settled through an
                                     issue of 2.6 SCP shares
                                     for every 1 Torre share
                                     approximating a value per
                                     Torre share of R5.20
TOTAL NUMBER OF SECURITIES       :   5 000 000
TRANSACTED
TOTAL RAND VALUE OF SECURITIES   :   R26 000 000
EXPECTED DATE OF SETTLEMENT      :   31 October 2015*
CONFIRMATION THAT CLEARANCE      :   Yes
HAS BEEN GIVEN IN TERMS OF
PARAGRAPH 3.66
* any changes to this date will be announced on SENS

Johannesburg
6 July 2015

Corporate Finance Adviser    and   Sponsor:   Stellar   Advisers
Proprietary Limited

Date: 06/07/2015 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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