HUDACO INDUSTRIES LIMITED - Announcement regarding | 12 Dec 2013 |
HDC 201312120028A Announcement regarding the Dunford group and Specialised Battery Systems CC HUDACO INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1985/004617/06) Share code: HDC & ISIN: ZAE000003273 (ôHudacoö) FURTHER ANNOUNCEMENT REGARDING THE ACQUISITION OF THE DUNFORD GROUP AND ANNOUNCEMENT REGARDING THE ACQUISITION OF THE TRADING ASSETS AND LIABILITIES OF SPECIALISED BATTERY SYSTEMS CC Dunford Group (ôDGö) Shareholders are referred to the announcement released on SENS on 1 November 2013 setting out details of the acquisition by Hudaco of DG and are advised that all suspensive conditions have been met. Specialised Battery Systems CC (ôSBSö) Hudaco has acquired the trading assets and liabilities of SBS. The final total consideration will depend on the average profits over the three year earn-out period, with an initial payment of R32.5m and a maximum of R75m. All suspensive conditions have been met. SBS is a distributor of imported batteries, used mainly in the standby and solar market. The Transaction falls below the threshold of a category 2 transaction and accordingly, this announcement is purely for information purposes. Johannesburg 12 December 2013 Sponsor: Nedbank Capital Date: 12/12/2013 02:00:00 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. |
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