HUDACO INDUSTRIES LIMITED - Results of Annual General Meeting

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


Hudaco shareholders are advised that the voting results for the annual general meeting (the "AGM") held at the
registered offices of the Company on Thursday, 27 March 2025 are set out below. Based on the voting results,
all binding resolutions were passed by the requisite majority of Hudaco shareholders present in person or
represented by proxy at the AGM.

 Resolution                                 Number of    Percentage of       For**    Against    Abstained
                                               shares         voteable           %         **            *
                                                voted        shares in                      %            %
                                                                issue*
                                                                      %
 
Ordinary Resolution Number 1.1:            22 305 793            78.57      90.55        9.45         0.67
To re-elect directors retiring by
rotation: SJ Connelly

Ordinary Resolution Number 1.2:            22 312 012            78.60      99.74        0.26         0.65
To re-elect directors retiring by
rotation: CV Amoils

Ordinary Resolution Number 1.3:            22 312 012            78.60      99.95        0.05         0.65
To re-elect directors retiring by
rotation: B Bulo

Ordinary Resolution Number 2:              22 312 012            78.60      98.78        1.22         0.65
To approve the re-appointment of
external auditors

Ordinary Resolution Number 3.1:            22 312 012            78.60      99.99        0.01         0.65
Appointment of the members of the
audit and risk management
committee: B Bulo (subject to the
passing of ordinary resolution 1.3)

Ordinary Resolution Number 3.2:            22 312 012            78.60      78.62      21.38          0.65
Appointment of the members of the
audit and risk management
committee: N Mandindi

Ordinary Resolution Number 3.3:            22 312 012            78.60      99.99        0.01         0.65
Appointment of the members of the
audit and risk management
committee: MR Thompson

Ordinary Resolution 4.1                    22 312 012            78.60      99.35        0.65         0.65
Appointment of the members of the
social and ethics committee:
N Mandindi

Ordinary Resolution 4.2                    22 312 012            78.60      99.99        0.01         0.65
Appointment of the members of the
social and ethics committee:
B Bulo (subject to the passing of
Ordinary Resolution Number 1.3)
    
Ordinary Resolution 4.3                   22 312 012              78.60       99.80       0.20          0.65
Appointment of the members of the
social and ethics committee:
EJ Smith

Special Resolution Number 1:              22 312 012              78.60       99.99       0.01          0.65
Approval of non-executive directors'
remuneration

Non-binding Resolution Number 1:          22 312 012              78.60       73.67      26.33          0.65
Approval of Hudaco's remuneration
policy

Non-binding Resolution Number 2:          22 312 012              78.60       73.64      26.36          0.65
Approval of Hudaco's remuneration
implementation report

Special Resolution Number 2:              22 312 012              78.60       99.30       0.70          0.65
General authority to repurchase
shares up to 1 544 799 of the
ordinary shares (5% of the shares in
issue)

Ordinary Resolution Number 5:             22 312 012              78.60       86.82      13.18          0.65
General authority to directors to allot
and issue up to 1 544 799 authorised
but unissued ordinary shares (5% of
the shares in issue)

Ordinary Resolution Number 6:             22 312 012              78.60     100.00        0.00          0.65
Signature of documents

*        Based on 28 388 152 voteable shares (being 30 895 980 ordinary shares in issue as at the date of the
         AGM minus 2 507 828 treasury shares held by a subsidiary of Hudaco).
**       As a percentage of shares voted at the AGM.

Shareholders are further advised that due to the Non-binding Resolutions Numbers 1 and 2 relating to the
approval of Hudaco's remuneration policy and remuneration implementation report respectively being voted
against by more than 25% of Hudaco's shareholders present in person or by proxy at the AGM, an invitation is
hereby extended to such dissenting shareholders to engage with the Company. Those wishing to do so should,
in the first instance, contact the company secretary at hudaco@acorim.co.za.

Comments by the CEO on 2025 first quarter trading.

During the meeting, Graham Dunford, chief executive of Hudaco, made the following comments on trading for
the first quarter:

      "Hudaco's first quarter includes the holiday months of December and January, so it is not normally a reliable
      indicator of how the year will unfold. It has only been a few weeks since our results presentation, at which
      we explained why we believed that Hudaco is well placed for a successful 2025 financial year. Our reasons
      included an improvement in trading towards the end of 2024, declining interest rates, progress at the ports,
      reduced load-shedding, structural changes in loss-making businesses and contributions from acquisitions.
      Our outlook remains unchanged"


Johannesburg
27 March 2025

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 27-03-2025 04:45:00
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