HUDACO INDUSTRIES LIMITED - Results of annual general meeting Adjournment of annual general meeting Comments by the CEO on first quarter trading

Results of annual general meeting
Adjournment of annual general meeting
Comments by the CEO on first quarter trading

HUDACO INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1985/004617/06
Share Code: HDC      ISIN: ZAE000003273
("Hudaco" or "the company")

Results of annual general meeting
Adjournment of annual general meeting
Comments by the CEO on first quarter trading

Results of annual general meeting

Shareholders are advised that, at the annual general meeting
of Hudaco held at the corporate office of the company today,
the following resolutions were passed by the requisite
majority of shareholders present or represented by proxy:

  1. Ordinary resolution numbers 1.1 to 1.3 : re-election of
     directors retiring by rotation;
  2. Ordinary resolution numbers 2.1 to 2.3 : appointment of
     the members of the audit and risk management committee;
  3. Ordinary resolution number 3 : reappointment of external
     auditors;
  4. Ordinary resolution number 4 : ratification of
     appointment of social and ethics committee;
  5. Special resolution number 1 : approval of non-executive
     directors’ remuneration;
  6. Non-binding resolution number 1 : endorsement of
     Hudaco’s remuneration policy; and
  7. Ordinary resolution number 5 : signature of documents.

The following resolutions were withdrawn prior to the
commencement of the annual general meeting:

  1. Special resolution number 2 : provision of financial
     assistance in terms of sections 44 and 45 of the
     Companies Act; and
  2. Special resolution number 3 : general authority to
     repurchase shares.

Adjournment of annual general meeting

The annual general meeting was adjourned prior to the
commencement of voting for Special resolution number 4
relating to the adoption of a new memorandum of incorporation
to allow the company to amend the memorandum of incorporation
to include its executive directors in the directors’
rotation.

Shareholders are advised that the annual general meeting has
been adjourned to 11:00 on Friday, 19 April 2013 at Hudaco’s
corporate offices situated at Building 9, Greenstone Hill
Office Park, Emerald Boulevard, Greenstone Hill, Edenvale.

Comments by the CEO on 2013 first quarter trading

During the course of the meeting the CEO, Stephen Connelly
commented on Hudaco’s 2013 first quarter trading as
follows:

The group has posted satisfactory first quarter results. In
our 2012 results presentation we indicated that we expected
trading (and hence earnings) to remain muted in 2013.
Businesses serving the platinum mines have not yet seen
activity return to normal and our diesel engine business
which supplies into underground mining applications is the
worst affected. Activity in open cast mining is nearly back
to normal levels, however, and good performances from other
businesses have more than offset weak sales into the
platinum mining market.

We are corresponding with SARS on the revised assessments,
including on arrangements for deferral of payment until the
matter is resolved, but there are no significant further
developments to report.


Johannesburg
28 March 2013

Sponsor
Nedbank Capital

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