HDC - Hudaco Industries Limited - Results of annual general meeting

HDC - Hudaco Industries Limited - Results of annual general meeting             
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                                               
Shareholders are advised that, at the annual general meeting of Hudaco held     
at the corporate office of the company today, all the resolutions were          
passed by the requisite majority of shareholders present or represented by      
proxy.                                                                          
During the course of the meeting the CEO, Stephen Connelly was invited to       
comment on Hudaco`s 2012 results to date and prospects for the full year. He    
commented as follows:                                                           
"In Hudaco`s 2011 results presentation we indicated that we expected            
earnings to grow in 2012. This prediction was predicated on expectations of     
moderate economic growth in South Africa, better economic growth in             
neighbouring countries and price increases across our product range on the      
back of Rand weakness in the last quarter of 2011.                              
Thus far in 2012, although price increases have not been achieved to the        
extent anticipated due to the Rand strengthening by about 10% since year        
end, other expectations are being met. First quarter results are                
satisfactory and the board remains confident that the group is on track to      
achieve earnings growth in 2012.                                                
The group continues to pursue acquisition opportunities and has a healthy       
pipeline."                                                                      
Johannesburg                                                                    
22 March 2012                                                                   
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 22/03/2012 15:22:01 Supplied by www.sharenet.co.za                     
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