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

Release Date: 05/04/2018 16:00
Code(s): CLR
 
Wrap Text
Dealings 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”)

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              :   3 April 2018
Class of securities              :   European Options over Clover
                                     ordinary shares
Nature of transaction            :   Exercise of put option in
                                     respect   of   an   off-market
                                     collar hedge over 540 000
                                     ordinary    shares   of    the
                                     Company
Strike price per share           :   R18.14
Value of put option              :   R 9 795 600
Nature of interest               :   Direct beneficial
Clearance obtained               :   Yes

Mr Vorster entered into a financing agreement with a financial
institution in   2015 which  consisted 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.

Johannesburg
5 April 2018

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

NSX Sponsor
IJG Securities

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