CLOVER INDUSTRIES LIMITED - Dealings in securities by directors

Dealings in securities by directors

Clover Industries Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
JSE Ordinary Share code: CLR
NSX Ordinary Share code: CLN
ISIN No: ZAE000152377
("Clover")

DEALINGS IN SECURITIES BY A DIRECTOR

In compliance with the JSE Limited Listings Requirements, the
following information is disclosed:


Director                        :   C P Lerm (Dr)
Company                         :   Clover Industries Limited
Date of transaction             :   1 December 2015
Nature of transaction           :   Exercise of SARs which are
                                    subsequently equity settled in
                                    accordance with the Restated
                                    Clover    Share    Appreciation
                                    Rights Plan
Class of securities             :   SARs in respect of ordinary shares
Number of SARs exercised        :   818 252
Allocation price                :   R4.67
SAR strike price                :   R18.70
Total value of transaction      :   R11 480 075.56
Total number of shares issued   :   613 907 ordinary shares of 5
                                    cents each at an issue price
                                    of R18.70 per share
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes
Transaction completed           :   Off market

Director                        :   C P Lerm (Dr)
Company                         :   Clover Industries Limited
Date of transaction             :   1 December 2015
Nature of transaction           :   Exercise of SARs which are
                                    subsequently equity settled in
                                    accordance with the Restated
                                    Clover    Share    Appreciation
                                    Rights Plan
Class of securities             :   SARs in respect of ordinary shares
Number of SARs exercised        :   389 123
Allocation price                :   R13.73
SAR strike price                :   R18.70
Total value of transaction      :   R1 933 941.31
Total number of shares issued   :   103 419 ordinary shares of 5
                                    cents each at an issue price
                                    of R18.70
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes
Transaction completed           :   Off market

Director                        :   C P Lerm (Dr)
Company                         :   Clover Industries Limited
Nature of transaction           :   On market sale of securities
Class of securities             :   Ordinary shares
Date of transaction             :   1 December 2015
Number of securities            :   300 000
Volume weighted average         :   R18.51
selling price
Highest price                   :   R18.55
Lowest price                    :   R18.50
Total value of transaction      :   R5 552 833.22
Nature of interest              :   Direct beneficial
Clearance obtained              :   Yes


The funds received from the selling of ordinary shares will
be used to, inter alia, settle Dr Lerm’s Pay As You Earn
obligation which had arisen as a result of the exercise of
SARs by Dr Lerm in terms of The Restated Share Appreciation
Rights Plan as referred to above.

Johannesburg
2 December 2015

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

NSX Sponsor
IJG Securities

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