CLOVER INDUSTRIES LIMITED - Dealing in securities by an executive director of the company
CLR 201707030041A
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)
Ordinary Share code: CLR
NSX Ordinary Share code: CLN
ISIN No: ZAE000152377
(“Clover” or “the Company”)
DEALING IN SECURITIES BY AN EXECUTIVE DIRECTOR OF THE COMPANY
Shareholders are referred to the announcement released on
SENS on 1 April 2015 wherein shareholders were advised that
the Mr Vorster had entered into various zero-cost collar
hedge transactions, the second tranche of which is in respect
of, in aggregate, 540 000 ordinary shares of the Company,
with an expiry date of 30 June 2017, and which option has a
put strike price of R18.14 and a call strike price of R23.22
referred to in this paragraph as the "Second 2015 collar
tranche".
On 30 June 2017, the Second 2015 collar tranche was settled
by the off-market transfer of 540 000 ordinary shares of the
Company to the relevant counterparty (which held them
pursuant to a pledge and securities loan arrangement) at the
put strike price of R18.14 resulting in a transaction value
of R9 936 000. This is a direct beneficial interest with no
prior clearance required given there was no discretion
exercised by the director and the sale of shares occurred in
settlement of the debt on expiry of the Second 2015 collar
tranche.
Johannesburg
3 July 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
NSX Sponsor
IJG Securities
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