TORRE INDUSTRIES LIMITED - Disclosure of acquisitions and disposals of securities in terms of section 122 of the Companies Act

Disclosure of acquisitions and disposals of securities in terms of section 122 of the Companies Act

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

DISCLOSURE OF ACQUISITIONS AND DISPOSALS OF SECURITIES IN
TERMS OF SECTION 122 OF THE COMPANIES ACT AND UPDATE ON SHARE
DEALINGS

1. Disclosure of Acquisitions and Disposals of Securities in
   Torre

Shareholders are referred to the SENS announcements made by
Stellar Capital Partners Limited (“SCP”) dated 6 July 2015 and
21 July 2015 respectively in which it was disclosed that a
vendor consortium of Torre shareholders would sell their Torre
shares in exchange for the settlement of SCP shares such that
SCP would own 34.62% of Torre (“Torre Acquisition”). The below
formal notifications, in accordance with section 122(3)(b) of
the Companies Act, No. 71 of 2008, as amended (the “Act”), and
paragraph 3.83(b) of the Listings Requirements of the JSE
Limited (“Listings Requirements”) are as a result of the
implementation of the Torre Acquisition:

      -   SCP, has acquired Torre shares resulting in an
          increase of its interest in the securities of the
          Company to 34.62% of total ordinary issued
          securities;
      -   SJP Capital Limited, has disposed of Torre shares
          resulting in a decrease of its interest in the
          securities of the Company to 0% of total ordinary
          issued securities;
      -   Asgard Capital Assets Limited, has disposed of
          Torre shares resulting in a decrease of its
          interest in the securities of the Company to 0%
          of total ordinary issued securities.

As required in terms of section 122(3)(a) of the Act, the
Company has filed the required notices with the Takeover
Regulation Panel.

2. Update on Share Dealings

Further to the announcement published on 6 July 2015 (“Initial
Announcement”) wherein the intended dealings of a director and
an associate of a director were disclosed, in compliance with
paragraphs 3.63 to 3.74 of the Listings Requirements, this
announcement confirms that the actual dealings date by that
director and an associate of a director of Torre was
26 October 2015 and not 31 October 2015, as detailed in the
Initial Announcement.


Johannesburg
27 October 2015

Sponsor and Corporate Finance Adviser: Stellar Advisers (Pty)
Ltd

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