SENS- Wednesday, 13 June 2012

HDC - Hudaco Industries Limited - Voluntary announ

HDC HDC HDC - Hudaco Industries Limited - Voluntary announcement regarding the acquisition of the trading assets and liabilities of Keys Makin Plastics Proprietary Limited and Quality Compounding Proprietary Limited HUDACO INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1985/004617/06) Share code: HDC & ISIN: ZAE000003273 ("Hudaco") VOLUNTARY ANNOUNCEMENT REGARDING THE ACQUISITION OF THE TRADING ASSETS AND LIABILITIES OF KEYS MAKIN PLASTICS PROPRIETARY LIMITED AND QUALITY COMPOUNDING PROPRIETARY LIMITED (COLLECTIVELY "KEYMAK") Hudaco has acquired the trading assets and liabilities of Keymak. The final total consideration will depend on the average profits over a three year earn- out period, with a maximum of R112 million and an initial payment of R52 million. Keymak is a manufacturer and distributor of specialised PVC flexible hose, mainly for the mining industry. These hoses are manufactured in line with SABS 1086 standard and comply with the stringent requirements of the mines. Keymak is an ideal fit for Hudaco and strongly complements the business of Astore Africa, an established operation within Hudaco that distributes specialised plastic pipes and pipe fittings for several industries, including the mining industry. Keymak will operate as a separate business but will seek synergies with Astore Africa. The Transaction falls below the threshold of a category 2 transaction in terms of JSE Listings Requirements and accordingly, this announcement is purely for information purposes. Johannesburg 13 June 2012 Sponsor Nedbank Capital Date: 13/06/2012 14:34:02 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.