TORRE INDUSTRIES LIMITED - Acceptance of share appreciation rights and bonus shares awarded to directors and company secretary

Acceptance of share appreciation rights and bonus shares awarded to directors and company secretary

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


ACCEPTANCE OF SHARE APPRECIATION RIGHTS GRANTED AND BONUS
SHARES AWARDED TO DIRECTORS AND THE COMPANY SECRETARY

In compliance with paragraphs 3.63 to 3.74 of the Listings
Requirements of the JSE Limited, the following acceptance of
grants and awards of Share Appreciation Rights and Bonus
Shares are required to be announced on SENS:

COMPANY                        :   Torre Industries Limited
NAME OF DIRECTOR               :   Charles Pettit
STATUS OF DIRECTOR             :   CEO of Torre
TYPE AND CLASS OF SECURITIES   :   Share Appreciation Rights
NATURE OF TRANSACTION          :   Acceptance of Share
                                   Appreciation Rights
NATURE AND EXTENT OF           :   Beneficial
DIRECTOR’S INTEREST IN THE
TRANSACTION
DATE OF TRANSACTION            :   16 September 2015
PRICE PER SHARE (CENTS)        :   474.116
ON/OFF MARKET                      Off-Market
CLEARANCE OBTAINED                 Yes
NUMBER OF SHARE APPRECIATION   :   496 503
RIGHTS
PERFORMANCE CRITERIA           :   Achievement of agreed
                                   targets over three years

COMPANY                        :   Torre Industries Limited
NAME OF DIRECTOR               :   Roy Midlane
STATUS OF DIRECTOR             :   CFO of Torre
TYPE AND CLASS OF SECURITIES   :   Share Appreciation Rights
NATURE OF TRANSACTION          :   Acceptance of Share
                                   Appreciation Rights
NATURE AND EXTENT OF           :   Beneficial
DIRECTOR’S INTEREST IN THE
TRANSACTION
DATE OF TRANSACTION            :   16 September 2015
PRICE PER SHARE (CENTS)        :   474.116
ON/OFF MARKET                      Off-Market
CLEARANCE OBTAINED                 Yes
NUMBER OF SHARE APPRECIATION   :   424 453
RIGHTS
PERFORMANCE CRITERIA           :   Achievement    of   agreed
                                   targets over three years
COMPANY                          :   Torre Industries Limited
NAME OF OFFICER                  :   Sean Graham
STATUS OF OFFICER                :   Company Secretary of Torre
TYPE AND CLASS OF SECURITIES     :   Share Appreciation Rights
NATURE OF TRANSACTION            :   Acceptance of Share
                                     Appreciation Rights
NATURE AND EXTENT OF OFFICER’S   :   Beneficial
INTEREST IN THE TRANSACTION
DATE OF TRANSACTION              :   16 September 2015
PRICE PER SHARE (CENTS)          :   474.116
ON/OFF MARKET                        Off-Market
CLEARANCE OBTAINED                   Yes
NUMBER OF SHARE APPRECIATION     :   144 325
RIGHTS
PERFORMANCE CRITERIA             :   Achievement of agreed
                                     targets over three years

COMPANY                          :   Torre Industries Limited
NAME OF SUBSIDIARY DIRECTOR      :   Kevin Rogers
STATUS OF SUBSIDIARY DIRECTOR    :   Managing Director of Torre
                                     Parts & Components, a
                                     major wholly-owned
                                     subsidiary of Torre
TYPE AND CLASS OF SECURITIES     :   Share Appreciation Rights
NATURE OF TRANSACTION            :   Acceptance of Share
                                     Appreciation Rights
NATURE AND EXTENT OF             :   Beneficial
SUBSIDIARY DIRECTOR’S INTEREST
IN THE TRANSACTION
DATE OF TRANSACTION              :   16 September 2015
PRICE PER SHARE (CENTS)          :   474.116
ON/OFF MARKET                        Off-Market
CLEARANCE OBTAINED                   Yes
NUMBER OF SHARE APPRECIATION     :   421 838
RIGHTS
PERFORMANCE CRITERIA             :   Achievement of agreed
                                     targets over three years

COMPANY                          :   Torre Industries Limited
NAME OF SUBSIDIARY DIRECTOR      :   Frans Lombard
STATUS OF SUBSIDIARY DIRECTOR    :   Financial Director of
                                     Torre Parts & Components,
                                     a major wholly-owned
                                     subsidiary of Torre
TYPE AND CLASS OF SECURITIES     :   Share Appreciation Rights
NATURE OF TRANSACTION            :   Acceptance of Share
                                     Appreciation Rights
NATURE AND EXTENT OF             :   Beneficial
SUBSIDIARY DIRECTOR’S INTEREST
IN THE TRANSACTION
DATE OF TRANSACTION            :   16 September 2015
PRICE PER SHARE (CENTS)        :   474.116
ON/OFF MARKET                      Off-Market
CLEARANCE OBTAINED                 Yes
NUMBER OF SHARE APPRECIATION   :   189 827
RIGHTS
PERFORMANCE CRITERIA           :   Achievement of agreed
                                   targets over three years


COMPANY                        :   Torre Industries Limited
NAME OF DIRECTOR               :   Charles Pettit
STATUS OF DIRECTOR             :   CEO of Torre
TYPE AND CLASS OF SECURITIES   :   Bonus Shares
NATURE OF TRANSACTION          :   Acceptance of Bonus Shares
NATURE AND EXTENT OF           :   Beneficial
DIRECTOR’S INTEREST IN THE
TRANSACTION
DATE OF TRANSACTION            :   16 September 2015
PRICE PER SHARE (CENTS)        :   474.116
ON/OFF MARKET                      Off-Market
CLEARANCE                      :   Yes
NUMBER OF BONUS SHARES         :   136 886
PERFORMANCE CRITERIA           :   Participant remains in the
                                   employ of the Group over
                                   the following three-year
                                   period

COMPANY                        :   Torre Industries Limited
NAME OF DIRECTOR               :   Roy Midlane
STATUS OF DIRECTOR             :   CFO of Torre
TYPE AND CLASS OF SECURITIES   :   Bonus Shares
NATURE OF TRANSACTION          :   Acceptance of Bonus Shares
NATURE AND EXTENT OF           :   Beneficial
DIRECTOR’S INTEREST IN THE
TRANSACTION
DATE OF TRANSACTION            :   16 September 2015
PRICE PER SHARE (CENTS)        :   474.116
ON/OFF MARKET                      Off-Market
CLEARANCE                      :   Yes
NUMBER OF BONUS SHARES         :   60 199
PERFORMANCE CRITERIA           :   Participant remains in the
                                   employ of the Group over
                                   the following three-year
                                   period


COMPANY                        :   Torre Industries Limited
NAME OF OFFICER                :   Sean Graham
STATUS OF OFFICER              :   Company Secretary of Torre
TYPE AND CLASS OF SECURITIES     :   Bonus Shares
NATURE OF TRANSACTION            :   Acceptance of Bonus Shares
NATURE AND EXTENT OF OFFICER’S   :   Beneficial
INTEREST IN THE TRANSACTION
DATE OF TRANSACTION              :   16 September 2015
PRICE PER SHARE (CENTS)          :   474.116
ON/OFF MARKET                        Off-Market
CLEARANCE                        :   Yes
NUMBER OF BONUS SHARES           :   14 819
PERFORMANCE CRITERIA             :   Participant remains in the
                                     employ of the Group over
                                     the following three-year
                                     period

COMPANY                          :   Torre Industries Limited
NAME OF SUBSIDIARY DIRECTOR      :   Kevin Rogers
STATUS OF SUBSIDIARY DIRECTOR    :   Managing Director of Torre
                                     Parts & Components, a
                                     major wholly-owned
                                     subsidiary of Torre
TYPE AND CLASS OF SECURITIES     :   Bonus Shares
NATURE OF TRANSACTION            :   Acceptance of Bonus Shares
NATURE AND EXTENT OF             :   Beneficial
SUBSIDIARY DIRECTOR’S INTEREST
IN THE TRANSACTION
DATE OF TRANSACTION              :   16 September 2015
PRICE PER SHARE (CENTS)          :   474.116
ON/OFF MARKET                        Off-Market
CLEARANCE                        :   Yes
NUMBER OF BONUS SHARES           :   54 446
PERFORMANCE CRITERIA             :   Participant remains in the
                                     employ of the Group over
                                     the following three-year
                                     period


COMPANY                          :   Torre Industries Limited
NAME OF SUBSIDIARY DIRECTOR      :   Frans Lombard
STATUS OF SUBSIDIARY DIRECTOR    :   Financial Director of
                                     Torre Parts & Components,
                                     a major wholly-owned
                                     subsidiary of Torre
TYPE AND CLASS OF SECURITIES     :   Bonus Shares
NATURE OF TRANSACTION            :   Acceptance of Bonus Shares
NATURE AND EXTENT OF             :   Beneficial
SUBSIDIARY DIRECTOR’S INTEREST
IN THE TRANSACTION
DATE OF TRANSACTION              :   16 September 2015
PRICE PER SHARE (CENTS)          :   474.116
ON/OFF MARKET                        Off-Market
CLEARANCE                        :   Yes
NUMBER OF BONUS SHARES           :   24 111
PERFORMANCE CRITERIA             :   Participant remains in the
                                     employ of the Group over
                                     the following three-year
                                     period

Johannesburg
17 September 2015

Sponsor and Corporate Finance Adviser
Stellar Advisers (Pty) Ltd

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