CLOVER INDUSTRIES LIMITED - Appointment of the new chief financial officer (CFO)

Appointment of the new chief financial officer (“CFO”)

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

APPOINTMENT OF THE NEW CHIEF FINANCIAL OFFICER (“CFO”)

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

The board of directors of the Company is pleased to announce the
appointment of Mr Frantz Scheepers as the new CFO designate,
effective 1 November 2017. He will further take over from Mr Elton
Bosch and will be appointed as an executive director (and will
then formally assume the role as the CFO of the Company),
effective 1 January 2018.

Over the next two months, Frantz will act as the CFO designate and
will work closely with Elton to ensure a smooth transition.

Frantz is a qualified chartered accountant CA(SA) and has spent
the full extent of his career with Ernst and Young (“EY”). In
2000, he was appointed as Partner in the EGC (Entrepreneurial
Growth Companies) audit division; in 2007, he moved to the Retail
and Consumer Products service line where he was an audit partner
on public companies and subsidiaries of multinational companies
focusing on consumer products- and agriculture industries; and
between 2014 and 2016, Frantz established and led the new
Stellenbosch practice of EY.

Frantz is well acquainted with Clover’s business as he was EY’s
lead audit partner on the Clover audit, from 2007 to 2013. He was
also part of the audit team when Clover was listed in 2010.

The Board welcomes Frantz and looks forward to his contribution to
Clover.


Johannesburg
17 October 2017

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

NSX Sponsor
IJG SECURITIES

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