HDC 201705220013A
Announcement regarding the acquisition of the trading assets and liabilities of the Dished End Company

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 THE DISHED END COMPANY
(“DISHED END”)
(“THE TRANSACTION”)

Hudaco has acquired the trading assets and liabilities of Dished End
from 1 May 2017. The final total consideration, to be paid out of
existing facilities and future cash flow, will depend on the average
profits over a three year earn-out period, with an initial payment of
R36m and a maximum of R79m.

The company manufactures dished ends, which are the end caps on
pressure vessels. These ends vary from 0.4m to 5.5m in diameter and
from 4mm to 25mm in thickness. They are manufactured in various metals
as required by the particular type of vessel. Dished End also offers
the pressing and flanging of small conical sections and a range of
single pressed weld caps.

The Transaction falls below the threshold for a category 2
transaction, which requires disclosure in terms of the JSE Limited’s
Listing Requirements. However, Hudaco’s Board believes it is
appropriate to inform shareholders of the transaction.


Johannesburg
22 May 2017

Sponsor: Nedbank Corporate and Investment Banking
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