CLOVER INDUSTRIES LIMITED - Dealings in securities by a director of a major subsidiary

Release Date: 18/06/2018 12:00
Code(s): CLR
 
Wrap Text
Dealings in securities by a director of a major subsidiary

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")

DEALINGS IN SECURITIES BY A DIRECTOR OF A MAJOR SUBSIDIARY

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

Director                      :   Hendrikus Lubbe
Company                       :   Clover Industries Limited
Date of transaction           :   14 June 2018
Nature of transaction         :   Exercise of SARs which are
                                  subsequently cash settled in
                                  accordance with the Restated
                                  Clover    Share    Appreciation
                                  Rights Plan
Class of securities           :   SARs in respect of ordinary
                                  shares
Number of SARs exercised      :   57 778
Allocation price              :   R11.00
SAR strike price              :   R16.90
Total value of transaction    :   R340 890.20
Nature of interest            :   Direct beneficial
Clearance obtained            :   Yes
Transaction completed         :   Off market


The SARs relate to the 3rd Allocation SARs issued to Mr Lubbe
in terms of the Restated Clover Share Appreciation Rights
Plan which will, if not exercised in time, expire on 30 June
2018.

Johannesburg
18 June 2018

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

NSX Sponsor
IJG Securities

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