TORRE INDUSTRIES LIMITED - Dealing in securities and update on amendment

Dealing in securities and update on amendment

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


DEALING IN SECURITIES BY DIRECTORS OF A SUBSIDIARY OF TORRE
AND UPDATE ON THE AMENDMENT TO THE TGS EARN-OUT CONSIDERATION


DIRECTOR DEALINGS

In compliance with paragraphs 3.63 to 3.74 of the Listings
Requirements of the JSE Limited, the following dealings by
directors of Manhand SA (Pty) Ltd (“Manhand”), a wholly-owned
subsidiary of Torre, are disclosed below:

COMPANY                          :   Torre
NAME OF DIRECTOR                 :   D   Glockle,   director  of
                                     Manhand
TYPE AND CLASS OF SECURITIES     :   Ordinary Shares
NATURE OF TRANSACTION            :   Off-market. Acquisition
                                     issue in relation to the
                                     sale of Manhand to Torre
NATURE AND EXTENT OF
DIRECTOR’S INTEREST IN THE
TRANSACTION                      :   Direct Beneficial
DATE OF TRADE                    :   7 October 2014
PRICE PER SHARE                  :   R2.546
TOTAL NUMBER OF SECURITIES
TRANSACTED                       :   1 601 655
TOTAL RAND VALUE OF SECURITIES   :   R4 077 813.63
CONFIRMATION THAT CLEARANCE
HAS BEEN GIVEN IN TERMS OF
PARAGRAPH 3.66                   :   N/A

COMPANY                          :   Torre
NAME OF DIRECTOR                 :   HD Glockle, director of
                                     Manhand
TYPE AND CLASS OF SECURITIES     :   Ordinary Shares
NATURE OF TRANSACTION            :   Off-market. Acquisition
                                     issue in relation to the
                                     sale of Manhand to Torre
NATURE AND EXTENT OF
DIRECTOR’S INTEREST IN THE
TRANSACTION                      :   Direct Beneficial
DATE OF TRADE                    :   7 October 2014
PRICE PER SHARE                  :   R2.546
TOTAL NUMBER OF SECURITIES
TRANSACTED                       :   2 002 069
TOTAL RAND VALUE OF SECURITIES   :   R5 097 267.67
CONFIRMATION THAT CLEARANCE
HAS BEEN GIVEN IN TERMS OF
PARAGRAPH 3.66                   :   N/A

COMPANY                          :   Torre
NAME OF DIRECTOR                 :   HG Glockle, director of
                                     Manhand
TYPE AND CLASS OF SECURITIES     :   Ordinary Shares
NATURE OF TRANSACTION            :   Off-market. Acquisition
                                     issue in relation to the
                                     sale of Manhand to Torre
NATURE AND EXTENT OF
DIRECTOR’S INTEREST IN THE
TRANSACTION                      :   Direct Beneficial
DATE OF TRADE                    :   7 October 2014
PRICE PER SHARE                  :   R2.546

TOTAL NUMBER OF SECURITIES
TRANSACTED                       :   400 414
TOTAL RAND VALUE OF SECURITIES   :   R1 019 454.00
CONFIRMATION THAT CLEARANCE
HAS BEEN GIVEN IN TERMS OF
PARAGRAPH 3.66                   :   N/A

COMPANY                          :   Torre
NAME OF DIRECTOR                 :   HG Glockle, director of
                                     Manhand
TYPE AND CLASS OF SECURITIES     :   Ordinary Shares
NATURE OF TRANSACTION            :   Off-market.     Acquisition
                                     issue in relation to the
                                     sale of Manhand to Torre
NATURE AND EXTENT OF
DIRECTOR’S INTEREST IN THE
TRANSACTION                      :   Direct Beneficial
DATE OF TRADE                    :   7 October 2014
PRICE PER SHARE                  :   R2.61

TOTAL NUMBER OF SECURITIES
TRANSACTED                       :   689 192
TOTAL RAND VALUE OF SECURITIES   :   R1 798 791.12
CONFIRMATION THAT CLEARANCE
HAS BEEN GIVEN IN TERMS OF
PARAGRAPH 3.66                   :   N/A
TGS UPDATE

Torre shareholders are referred to the SENS announcement dated
11 September 2014 which detailed the proposed Amendment to the
transaction terms in relation to Torre’s acquisition of 100%
of Tractor and Grader Supplies (Pty) Ltd ("TGS") (“TGS
Amendment SENS”).

Capitalised terms used in this SENS will       bear   the   same
meanings provided in the TGS Amendment SENS.

Torre and the Seller have agreed that they will not proceed
with the Amendment due to the complex and expensive regulatory
requirements associated with the implementation thereof.
Accordingly Torre shareholders will not be required to vote on
any Amendment at the upcoming annual general meeting.

Johannesburg
9 October 2014

Corporate Adviser and Designated Adviser to Torre
AfrAsia Corporate Finance (Pty) Ltd

Date: 09/10/2014 05:27:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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