HUDACO INDUSTRIES LIMITED - Director's associate dealing in securities

Director's associate dealing in securities

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

DIRECTOR’S ASSOCIATE DEALING IN SECURITIES

Name of the company         : Hudaco

Name of director            : GR Dunford

Status                      : Chief executive

Information regarding the   : GR Dunford owns 60% of the issued shares of
associate and the             Dunford Holdings (Pty) Ltd (DH) and he
transactions mentioned        therefore benefits indirectly from the
below                         transaction detailed below. The remaining
                              shares in DH are held by TB Dunford, GR
                              Dunford’s brother.

Rationale for the           : With effect from 1 December 2013 DH sold
transaction                   100% of the shares of Dosco Precision
                              Hydraulics (Pty) Ltd, Gear Pump
                              Manufacturing (Pty) Ltd, Joseph Grieveson
                              (Pty) Ltd and Engineering Technology
                              Services (Pty) Ltd to Hudaco Trading (Pty)
                              Ltd, 85% owned by Hudaco. One of the
                              conditions of sale agreement required DH to
                              purchase a maximum of 927 000 Hudaco shares
                              on the open market, which shares were to be
                              retained for a minimum period as follows: a
                              maximum of one-third may be sold after one
                              year, a further one-third after two years
                              and the balance after three years. The
                              total of 927 000 shares that were held by
                              DH in terms of the sale of shares agreement
                              were released from their lock-up period by
                              30 November 2016.

                              As part of a strategy to diversify its
                              investment portfolio, DH has disposed of
                              approximately one-third of its holding in
                              Hudaco to certain collective investment
                              schemes in exchange for the issuance of new
                              units in those schemes by the acquirers.
Date of transaction        : 28 February 2018

 Nature of transaction         Sale of 323 600 ordinary Hudaco shares
                           :: Sale of 323 600 ordinary Hudaco shares
                               (off-market).
                              (off-market).

Price per share            : Closing market price of R158.00

Value of transaction       : R51 128 800

Clearance obtained for     : Yes
all the transactions
mentioned above

Edenvale
2 March 2018

Sponsor
Nedbank Corporate and Investment Banking

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