TORRE INDUSTRIES LIMITED - Acceptance of share appreciation rights granted to directors and company secretary

Acceptance of share appreciation rights granted 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 TO DIRECTORS
AND THE COMPANY SECRETARY AND ACCEPTANCE OF BONUS SHARES
AWARDED TO DIRECTORS.


In compliance with paragraphs 3.63 to 3.74 of the Listings
Requirements of the JSE Limited, the following 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            :   31 October 2014
PRICE PER SHARE (CENTS)        :   300.92
ON/OFF MARKET                      Off-Market
CLEARANCE                          N/A
NUMBER OF SHARE APPRECIATION   :   2 193 278
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            :   31 October 2014
PRICE PER SHARE (CENTS)        :   300.92
ON/OFF MARKET                      Off-Market
CLEARANCE                          N/A
NUMBER OF SHARE APPRECIATION     :   643 029
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              :   31 October 2014
PRICE PER SHARE (CENTS)          :   300.92
ON/OFF MARKET                        Off-Market
CLEARANCE                            N/A
NUMBER OF SHARE APPRECIATION     :   94 746
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              :   31 October 2014
PRICE PER SHARE (CENTS)          :   300.92
ON/OFF MARKET                        Off-Market
CLEARANCE                            N/A
NUMBER OF BONUS SHARES           :   657 983
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            :   31 October 2014
PRICE PER SHARE (CENTS)        :   300.92
ON/OFF MARKET                      Off-Market
CLEARANCE                          N/A
NUMBER OF BONUS SHARES         :   44 862
PERFORMANCE CRITERIA           :   Participant remains in the
                                   employ of the Group over
                                   the following three-year
                                   period


Johannesburg
4 November 2014


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

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