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)
Ordinary Share code: CLR ISIN No: ZAE000152377
(“Company”)

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              :   31 March 2015
Class of securities              :   Ordinary shares
Nature of transactions           :   Off-market collar hedge over
                                     540 000 ordinary shares of
                                     the Company with a put strike
                                     price of R18.14 and a call
                                     strike price of R22.46 and
                                     expiry on 31 March 2017
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Date of transaction              :   31 March 2015
Class of securities              :   Ordinary shares
Nature of transactions           :   Off-market collar hedge over
                                     540 000 ordinary shares of
                                     the Company with a put strike
                                     price of R18.14 and a call
                                     strike price of R23.22 and
                                     expiry on 30 June 2017
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Date of transaction              :   31 March 2015
Class of securities              :   Ordinary shares
Nature of transactions           :   Off-market collar hedge over
                                     540 000 ordinary shares of
                                     the Company with a put strike
                                     price of R18.14 and a call
                                     strike price of R23.82 and
                                     expiry on 29 September 2017
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Date of transaction              :   31 March 2015
Class of securities              :   Ordinary shares
Nature of transactions           :   Off-market collar hedge over
                                     540 000 ordinary shares of
                                     the Company with a put strike
                                     price of R18.14 and a call
                                     strike price of R24.71 and
                                     expiry on 29 December 2017
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Date of transaction              :   31 March 2015
Class of securities              :   Ordinary shares
Nature of transactions           :   Off-market collar hedge over
                                     540 000 ordinary shares of
                                     the Company with a put strike
                                     price of R18.14 and a call
                                     strike price of R25.18 and
                                     expiry on 29 March 2018
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.

A portion of the transaction proceeds will be applied to
settle Mr Vorster’s tax obligations arising from his exercise
of share appreciation rights, per the announcement released
on the Stock Exchange News Service on 17 March 2015.


Johannesburg
1 April 2015

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

Date: 01/04/2015 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.