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

Release Date: 04/10/2019 16:30
Code(s): CLR     PDF:  
 
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”)

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              :   2 October 2019
Class of securities              :   Clover ordinary shares
Nature of transaction            :   Exercise of a call option in
                                     respect   of   an   off-market
                                     collar hedge over 350 000
                                     ordinary    shares   of    the
                                     Company which expired on 28
                                     September 2019

Strike price per share           :   R14.69
Value of call option             :   R 5 141 500
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. The financial institution elected to exercise the
call option. Mr Vorster has no discretion as to when the financial
institution exercises its call option nor any discretion to stop
such call option exercised by the financial institution.

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

Johannesburg
4 October 2019

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

NSX Sponsor
Mercantec Capital Namibia Proprietary Limited

Date: 04/10/2019 04:30:00
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