CLOVER INDUSTRIES LIMITED - Renewal of cautionary announcement
CLR 201703130029A
Renewal of cautionary announcement
Clover Industries Limited
(Incorporated in the Republic of South Africa)
Registration number 2003/030429/06
NSX Ordinary Share code: CLN
Ordinary Share Code: CLR ISIN No: ZAE000152371
(“Clover” or "the Company")
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the: -
- cautionary announcement released on the Stock Exchange News Service
(“SENS”) on 5 December 2016;
- renewal of cautionary announcement released on the SENS on 20 January
2017; and
- renewal of cautionary announcement released on the SENS on 30 January
2017.
In the abovementioned announcements shareholders were advised that Clover is
in the process of restructuring its business to give effect to its stated
objective of developing higher margin, value added products in dairy and
other related food categories and to eliminate its exposure to the
cyclicality of its low margin business in future (the "Restructure").
Shareholders are advised that the Restructure is ongoing.
Pursuant to the approval of the board of Clover, the new entity being Dairy
Farmers of South Africa Proprietary Limited (“DFSA”) have been formed. Clover
and the prospective management of DFSA are currently in discussions
pertaining to the finalisation of appropriate transaction agreements.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in the Company's securities until a full announcement is made once
the transaction agreements have been signed.
Johannesburg
13 March 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
NSX Sponsor
IJG SECURITIES
Attorneys
Werksmans
Date: 13/03/2017 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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