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HDC - Hudaco Industries Limited - Announcement regarding the acquisition of

Release Date: 07/02/2011 08:00
Code(s): HDC
Wrap Text

HDC - Hudaco Industries Limited - Announcement regarding the acquisition of the trading assets and liabilities HUDACO INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1985/004617/06) Share code: HDC & ISIN: ZAE000003273 ("Hudaco") ANNOUNCEMENT REGARDING THE ACQUISITION OF THE TRADING ASSETS AND LIABILITIES OF PENTAGON DISTRIBUTIONS (PROPRIETARY) LIMITED AND PENTAGON DIGITAL SURVEILLANCE EQUIPMENT CC (COLLECTIVELY "PENTAGON") Further to the information set out in the annual results announcement of Hudaco Industries Ltd on 31 January 2011, we provide the following details regarding the acquisition of Pentagon. Hudaco has signed binding Heads of Agreement to acquire the trading assets and liabilities of Pentagon from 1 March 2011, subject to certain suspensive conditions which are expected to be fulfilled before this date. Pentagon is an electronic security distributor and video Internet Protocol specialist providing turnkey security solutions for building management focussing on closed-circuit television (CCTV) products. Typical installations are shopping centres, urban surveillance, estates, institutions, prisons and mines. Products offered include CCTV, public address evacuation systems, intrusion and access control, all sourced from leading international producers such as Bosch, Arecont and Dell. The business of Pentagon is an ideal fit for Hudaco and strongly complements the business of Elvey Security Technologies, an established division within Hudaco that distributes security equipment, mainly intruder detection and access control products. Pentagon will operate as a separate division of Elvey Security Technologies. The transaction falls below the threshold of a category 2 transaction, and accordingly this announcement is purely for information purposes. Johannesburg 04 February 2011 Investment bank and sponsor Nedbank Capital Date: 07/02/2011 08:00:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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