CLOVER INDUSTRIES LIMITED - Further trading statement

Further trading statement

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

FURTHER TRADING STATEMENT

Shareholders are referred to the trading update and trading
statement released on SENS on 18 January 2017 wherein the Company
advised shareholders that it expected:-

  -   headline earnings and earnings for the six months ended 31
      December 2016 (“the period”) to be between 14.6% and 24.6%
      and between 12.1% and 22.1% lower, respectively, than that
      reported for the six months ended 31 December 2015 (“the
      comparative period”);

  -   headline earnings per share (“HEPS”) for the period to be
      between 15.7% (18.33 cents) and 25.7% (30.02 cents) lower
      than HEPS of 116.96 cents reported for the comparative
      period.

  -   earnings per share (“EPS”) for the period to be between 13.2%
      (15.36 cents) and 23.2% (26.96 cents) lower than EPS of
      116.07 cents reported for the comparative period.

Shareholders are advised that Clover now expects: -

  -   headline earnings and earnings for the period to be between
      11.0%   and  16.0%   and  between   7.1%   and 12.1% lower,
      respectively, than the comparative period;

  -   HEPS for the period to be between 12.1% (14.20 cents) and
      17.1% (20.05 cents) lower than HEPS of 116.96 cents reported
      for the comparative period.

  -   EPS for the period to be between 8.3% (9.60 cents) and 13.3%
      (15.41 cents) lower than EPS of 116.07 cents reported for the
      comparative period.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Company’s external
auditors.

The Company expects to release its interim financial results for
the six months ended 31 December 2016 on SENS on or about 01 March
2017.

Johannesburg
21 February 2017

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

NSX Sponsor
IJG SECURITIES

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