HDC - Hudaco Industries Limited - Fulfillment of conditions precedent

HDC - Hudaco Industries Limited - Fulfillment of conditions precedent           
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                                                         
FULFILLMENT OF CONDITIONS PRECEDENT RE THE ACQUISITION OF THE TRADING ASSETS    
AND LIABILITIES OF GLOBAL COMMUNICATIONS (PTY) LIMITED AND IKWEZI MAINTENANCE   
AND COMMUNICATIONS (PTY) LIMITED (COLLECTIVELY "GLOBAL")                        
Shareholders are referred to the detailed terms announcement released on SENS   
on 19 November 2010 and published in the press on 22 November 2010 wherein      
Hudaco announced the acquisition of the trading assets and liabilities of       
Global subject to the following suspensive conditions:                          
-    approval of the transaction by the relevant Competition Authorities;       
-    the satisfactory due diligence of the business of  Global;                 
-    consent by the major suppliers of Global to continue their supply          
    arrangements;                                                               
-    approval of the transaction by the Hudaco board of directors;              
-    conclusion of service agreements and restraint of trade agreements by      
    Global`s major shareholders; and                                            
-    the transfer of the lease over Global`s property in Pretoria.              
Shareholders are advised that all of the suspensive conditions have been met.   
2 March 2011                                                                    
Sponsors                                                                        
Nedbank Capital                                                                 
Date: 02/03/2011 10:28:01 Supplied by www.sharenet.co.za                     
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