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

Release Date: 03/01/2018 10:00
Code(s): CLR
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 and/ or Company”)


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

Director                         :   Johann Hendrik Vorster
Date of transaction              :   29 December 2017
Class of securities              :   European Options over Clover
                                     ordinary shares
Nature of transaction            :   Off-market collar hedge over
                                     540 000 ordinary shares of
                                     the Company with a put strike
                                     price of R18.14 and a call
                                     strike price of R24.71 which
                                     expired on 29 December 2017
Initial price per share          :   R18.14
Notional put value on expiry     :   R 9 795 600
Notional call value on expiry    :   R13 343 400
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Mr Vorster entered into a financing agreement on or about 31 March
2015 with a financial institution which consists of a loan
agreement securitised by a simultaneous collar hedge and equity
lending transaction.

Johann Vorster continues to hold circa 8 million ordinary shares
in the Company in his own name.

3 January 2018

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

NSX Sponsor
IJG Securities

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