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”)
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 : 1 October 2018
Class of securities : Clover ordinary shares
Nature of transaction : Exercise of a put option in
respect of an off-market
collar hedge over 300 000
ordinary shares of the
Company which expired on 28
Strike price per share : R17.21
Value of put option : R 5 163 000
Nature of interest : Direct beneficial
Clearance obtained : Yes
Mr Vorster entered into a financing agreement with a financial
institution in 2016 which consisted of a loan agreement
securitised by a simultaneous collar hedge and equity lending
transaction. Mr Vorster has no discretion as to when the financial
institution exercises its put option nor any discretion to stop
such put option exercised by the financial institution.
Mr Vorster continues to hold circa 8 million ordinary shares in
the Company in his own name.
2 October 2018
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Mercantec Capital Namibia Proprietary Limited
Date: 02/10/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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