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CLOVER INDUSTRIES LIMITED - Dealing in securities by an executive director of the company

Release Date: 02/10/2017 12:00
Code(s): CLR     PDF:  
Wrap Text
Dealing in securities by an executive director of the company

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”)

DEALING IN SECURITIES BY AN EXECUTIVE DIRECTOR OF THE COMPANY

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

Director                         :   Johann Hendrik Vorster
Date of transaction              :   29 September 2017
Class of securities              :   European Options over Clover
                                     ordinary shares
Nature of transaction            :   Off-market collar hedge over
                                     350 000 ordinary shares of
                                     the Company with a put strike
                                     price of R13.35 and a call
                                     strike price of R14.69 and
                                     expiry on 27 September 2019
Initial price per share          :   R13.35
Notional put value on expiry     :   R4 672 500
Notional call value on expiry    :   R5 141 500
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Director                         :   Johann Hendrik Vorster
Date of transaction              :   29 September 2017
Class of securities              :   European Options over Clover
                                     ordinary shares
Nature of transaction            :   Off-market collar hedge over
                                     350 000 ordinary shares of
                                     the Company with a put strike
                                     price of R13.35 and a call
                                     strike price of R14.69 and
                                     expiry on 13 December 2019
Initial price per share          :   R13.35
Notional put value on expiry     :   R4 672 500
Notional call value on expiry    :   R5 151 500
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Mr Vorster entered into a financing agreement with a financial
institution which consists of a loan agreement securitised by a
simultaneous collar hedge and equity lending transaction.

Johannesburg
2 October 2017

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

NSX Sponsor
IJG Securities

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