Results Of Annual General Meeting Clover Industries Limited (Incorporated in the Republic of South Africa) (Registration number 2003/030429/06) Ordinary Share code: CLR ISIN No: ZAE000152377 Preference Share code: CLRP ISIN No: ZAE000152385 (“Clover” or “the Group” or “the Company”) RESULTS OF ANNUAL GENERAL MEETING Clover Industries Limited shareholders are advised that at the Annual General Meeting of members held on Friday, 30 November 2012, all the ordinary and special resolutions as proposed in the Notice of the Annual General Meeting were approved by the requisite majority of members. Clover’s retiring chairman, John Bredin, made the following comments at the AGM: “We appreciate the continued participation and support of our shareholders over the past year. Global and domestic conditions are set to remain difficult with inflationary pressures expected to continue into the coming year. Clover will continuously monitor and address the impact of these external factors where applicable. The implementation of Project Cielo Blu continues according to schedule and we expect that the increased efficiencies, additional cost savings drives and other margin-enhancing projects will ensure that Clover retains a healthy market share and strong balance sheet. Today is my last AGM and I will soon be bidding farewell to the Group to devote myself fully to dairy farming in KwaZulu-Natal. It has been an honour to serve Clover in my capacity of Chairman and Director over the past 22 years. I wish to take this opportunity to thank all those who contributed to the Group’s success during my tenure and especially to my fellow board members whose support over the past seven years has been invaluable in setting Clover on its next phase of growth.” Clover’s Nomination Committee has made a recommendation to the Board with regards to the new Chairman and the Board will be voting on the Chairman’s appointment as soon as possible. ENQUIRIES Clover Industries Limited +27 (0) 11 471 1702 Johann Vorster – Chief +27 (0) 82 462 0083 Executive Jacques Botha – Chief +27 (0) 83 283 4035 Financial Officer College Hill +27 (0) 11 447 3030 Morné Reinders +27 (0) 82 815 1844 Frédéric Cornet +27 (0) 83 307 8286 Any forward looking statement included in this announcement has not been reviewed and reported on by Clover’s external auditors and does not constitute an earnings forecast. The audited financial statements for the year ending 30 June 2012 and a link to the webcast of an analyst and investor presentation by management, will be available on the Company’s website this morning. NOTES TO EDITORS OVERVIEW Operating in one form or another since 1898, Clover has enjoyed a long and successful history as part of the development of South Africa’s dairy and Fast Moving Consumer Goods industry. Today, Clover is a leading and competitive branded consumer goods and products group operating in South Africa and other selected African countries with core competencies in: - The production of dairy and non-dairy consumer products - The distribution of chilled and ambient consumer products - The sales and merchandising of fast moving consumer goods Clover produces and distributes (for itself and other FMCG companies) a diverse range of dairy and non-dairy consumer products to consumers and customers though one of the largest and most extensive distribution networks in South Africa. The business platform, created and sustained by the dairy business, provides the perfect platform for the Group to reach an extensive cross section of South African customers and consumers. Clover’s business platform spans the breadth of the value chain from production to sales and integrates key value-added support services such as logistics, supply chain management, sales and merchandising. Clover’s market penetration (Clover delivers to approximately 14,000 delivery points across South Africa) coupled with its value-added services offering and high frequency of delivery, positions Clover to exploit attractive opportunities for organic and acquisitive growth. Clover was converted from a co-operative society into a public company in 2003. Subsequent to the conversion, Clover has evolved into a dynamic demand-driven branded consumer products business with attractive growth prospects. As part of its evolutionary process, Clover implemented a capital restructuring on 31 May 2010 which was a milestone in Clover’s corporate development and resulted in both economic benefits and voting control vesting in the ordinary shares. In addition, the delinking of the ordinary shares from the delivery agreements enabled persons other than dairy producers to acquire ordinary shares, facilitating Clover’s ability to raise equity capital. Capital scarcity has historically been a key constraint for Clover’s growth and development. CORPORATE STRATEGY Clover’s corporate strategy is to build onto existing competencies within the Group and to establish a culture of exceptional performance with a view to creating a platform for future market expansion. Key to all of Clover’s activities is the expansion of capacities to share in the strong growth in consumption in the product segments in which it has a leading market share. Clover has identified a unique set of strategic pillars on which the success of the business is founded. These strategic pillars are managed and measured by the company across all business activities by means of a Balanced Score Card. The strategic pillars are: - To optimise the brand portfolio - To simplify and reduce costs in the supply chain by changing the operational model to fit with the business model - To increase market share through sales and distribution by leveraging off Clover’s strong distribution capabilities (Clover’s aim is to constantly redesign service offerings to customers and Principals in order to increase sales volumes and profitability of the route to market) - To actively support the business in the most effective and efficient manner - To constantly adapt Clover’s Human Resources capabilities in order to fit its business model - To successfully complete value-enhancing capital projects through proper planning, project management and the tracking of the business case benefits and - to actively seek value-enhancing corporate activity COMPETITIVE STRENGTHS Clover is a market leader in the production, distribution, sales and merchandising of branded consumer goods. Clover’s leading market position is a result of its ability to leverage its core competencies across its product portfolio sustained by: 1. An iconic South African consumer brand with market recognition and pricing power 2. Exposure to an attractive industry with favourable fundamentals 3. Access to one of the largest chilled and ambient distribution networks in South Africa 4. Value-enhancing optimisation and expansion projects (Project Cielo Blu) 5. Strong and unique relationships with its milk producers 6. Attractive growth opportunities 7. Dynamic management team with significant experience in the dairy and FMCG business BRANDS CLOVER CLOVER DUAL- STAND-ALONE NON-CLOVER BRANDED BRANDED ENDORSED BRANDING PRODUCTS PRODUCTS PRODUCTS Milk Milk Beverages Milk Fresh milk Clover Mmmilk Aquartz Creamline UHT UHT Milk Clover Great Capri-Sun Cheese Steri Milk Taste No Fat Tropika Elite Cheese Clover The One Manhattan Sacca VP Cheese Ultramel UHT Super M Processed Beverages Danao Other cheese slices Clover Krush Butters Elite Skim Feta Clover Life Erica Milk Powder Mozzarella Butter and Tulip The Real Beverages spreads Juice Co Cheese Nectar (KZN) Clover Butro Berg Other butter spread Other Cream Clover Mooirivier Cream cup Condensed butter Kremel Milk Clover Surromel Ghee Springbok Whey butter Whey Clover concentrate Farmstyle Full Cream Cheese Milk Powder Clover Tussers Rolled Dry powders Buttermilk powder 8g Butter Johannesburg 30 November 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 30/11/2012 02:22:00 Produced by the JSE SENS Department. 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