HUDACO INDUSTRIES LIMITED - Dealing in securities by a director

Dealing in securities by a director

Hudaco Industries Limited
(“Hudaco” or “the company”)
Incorporated in the Republic of South Africa
Registration number: 1985/004617/06
Share code: HDC
ISIN code: ZAE000003273

DEALING IN SECURITIES BY A DIRECTOR

In terms of paragraph 3.63 - 3.65 of the JSE Limited Listings
Requirements, the following information, relating to the
dealing in securities by a director is disclosed:

Non-executive director:               SJ Connelly

Date of transaction no 1:             9 September 2014

Nature of transaction no 1:           Automatic exercise on
                                      resignation as chief
                                      executive of share
                                      appreciation rights under the
                                      Hudaco Industries Limited
                                      Share Appreciation Plan at a
                                      VWAP price of R95.30 as
                                      follows:

                                      1. 100 000 share appreciation
                                         rights with a strike price
                                         of R71.45;
                                      2. 151 693 share appreciation
                                         rights with a strike price
                                         of R50.50;
                                      3. 41 666 share appreciation
                                         rights with a strike price
                                         of R68.09; and
                                      4. 19 333 share appreciation
                                         rights with a strike price
                                         of R81.05

                                      Settled by the delivery of
                                      111 123 Hudaco ordinary
                                      shares (off market)

Exercise price per share:             R95.30

Deemed value of transaction 1:        R10 590 021.90

Date of transaction no 2:             10 September 2014

Nature of transaction no 2:           Sale of 44 623 Hudaco
                                      ordinary shares at the
                                      current market price of
                                      R104.60 per share (on
                                      market). These shares were
                                      acquired by exercising the
                                      share appreciation rights
                                      mentioned in transaction 1
                                      above.

Value of transaction no 2:            R4 667 565.80


Nature of interest:                   Direct beneficial

Written clearance obtained:           Yes


Johannesburg
11 September 2014

Sponsor
Nedbank Capital

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