CLOVER INDUSTRIES LIMITED - Dealing in share appreciation rights (SARs) by a director

Dealing in share appreciation rights (“SARs”) by a director

Clover Industries Limited
Incorporated in the Republic of South Africa
(Registration No. 2003/030429/06)
Share code: CLR
ISIN NO: ZAE000152377
("Clover" or "the Company")

DEALING IN SHARE APPRECIATION RIGHTS (“SARs”) BY A DIRECTOR


Director                      :   L J Botha
Company                       :   Clover Industries Limited
Date of transaction           :   23 December 2014
Nature of transaction         :   Exercise of SARs which are subsequently
                                  cash settled in accordance with the
                                  Restated Clover Share Appreciation
                                  Rights Plan (2010)
Class of securities           :   SARs in respect of ordinary shares
Number of SARs exercised      :   186 667
Allocation price              :   Rnil
SAR strike price              :   R17.84

Total value of transaction    :   R3,330,139.28
Nature of interest            :   Direct beneficial
Clearance obtained            :   Yes
Transaction completed         :   Off market

Johannesburg
24 December 2014

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

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