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 and
retention conditions. The necessary authority in terms of
paragraph   3.66   was  obtained  and   these   were  off-market
transactions:

Date of acceptance                   :     13 December 2016

Nature of transaction                :     Initial grants and
                                           acceptance of
                                           conditional share
                                           awards by qualifying
                                           employees in terms of
                                           the Torre Conditional
                                           Share Plan approved by
                                           Shareholders at the
                                           Annual General Meeting
                                           held on 7 December
                                           2016

Strike price                         :     Nil (no consideration)

Vesting date for awards              :     13 December 2019

Class of security                    :     Ordinary shares

Nature of interest                   :     Direct beneficial




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

Johan Botes             Chief Executive            1,252,632       R2,380,000
                       Officer of Torre
                         Industries Ltd

Shivan Mansingh         Chief Financial              807,500       R1,534,250
                       Officer of Torre
                         Industries Ltd

Kevin Rogers       Managing Director of              368,421         R700,000
                        Torre Parts and
                   Components (Pty) Ltd

Frans Lombard     Financial Director of              331,579         R630,000
                        Torre Parts and
                   Components (Pty) Ltd



*Based on the closing price on 12 December 2016 of R1.90 per
share.

Johannesburg
13 December 2016

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

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