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TORRE INDUSTRIES LIMITED - Share dealings by directors and an associate of a director

Release Date: 18/10/2016 08:00
Code(s): TOR     PDF:  
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Share dealings by directors and an associate of a director

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

SHARE DEALINGS BY DIRECTORS AND AN ASSOCIATE OF A DIRECTOR

In compliance with paragraphs 3.63 to 3.74 of the JSE Limited
Listings Requirements, the following information is disclosed
for those directors and an associate who accepted the
Mandatory Offer (as referred to in the SENS announcement
published on 17 October 2016) by Stellar Capital Partners
Limited (“Stellar Capital”) and surrendered their Torre
shares:

Company                         :   Torre
Name of director                :   Charles E Pettit
Designation of director         :   Deputy Chairman of Torre
Class of securities             :   Ordinary shares
Nature Of transaction           :   Surrender of Torre shares
                                    and off market receipt of
                                    Stellar   Capital    shares
                                    issued   by   way   of    a
                                    Mandatory Offer
Nature and extent of            :   Direct Beneficial
director’s interest in the
transaction
Date of transaction             :   14 October 2016
Deemed price per share          :   R 1.66
Number of Torre shares          :   1 101 663
surrendered
Rand value of shares            :   R 1 831 515
Clearance obtained              :   Yes


Company                         :   Torre
Name of director                :   Peter J van Zyl
Designation of director         :   Non-executive Director of
                                    Torre
Class of securities             :   Ordinary shares
Nature Of transaction           :   Surrender of Torre shares
                                    and off market receipt of
                                    Stellar   Capital   shares
                                    issued   by   way   of   a
                                    Mandatory Offer
Nature and extent of            :   Direct Beneficial
director’s interest in the
transaction
Date of transaction             :   14 October 2016
Deemed price per share          :   R 1.66
Number of Torre shares          :   96 240
surrendered
Rand value of shares            :   R 159 999
Clearance obtained              :   Yes


Company                         :   Torre
Name of director                :   Moses M Ngoasheng
Name of associate               :   Safika Holdings (Pty) Ltd
                                    in which Mr Ngoasheng is a
                                    Director and Shareholder
Designation of director         :   Independent   Non-executive
                                    Director of Torre
Class of securities             :   Ordinary shares
Nature Of transaction           :   Surrender of Torre shares
                                    and off market receipt of
                                    Stellar   Capital    shares
                                    issued   by    way   of   a
                                    Mandatory Offer
Nature and extent of            :   Held by associate
director’s interest in the
transaction
Date of transaction             :   14 October 2016
Deemed price per share          :   R 1.66
Number of Torre shares          :   39 000 000
surrendered
Rand value of shares            :   R 64 837 500
Clearance obtained              :   Yes


Johannesburg
18 October 2016

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

Date: 18/10/2016 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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