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 : GR Dunford owns 60% of the issued shares the associate and the of Dunford Holdings (Pty) Ltd (DH) and he transactions mentioned therefore benefits indirectly from the below transaction detailed below, while DH benefits directly. The remaining shares in DH are held by TB Dunford, GR Dunford's brother. Rationale for the : In December 2013, DH sold 100% of the transaction shares of Dosco Precision Hydraulics (Pty) Ltd, Gear Pump Manufacturing (Pty) Ltd, Joseph Grieveson (Pty) Ltd and Engineering Technology Services (Pty)Ltd (the DH businesses) to Hudaco Trading (Pty) Ltd, 85% owned by Hudaco. In terms of the sale agreement, DH purchased 927 000 Hudaco shares on the open market, which shares were to be retained for a minimum period, which expired in 2016. The investment in Hudaco shares still held by DH represents a substantial portion of the personal wealth of GR Dunford and TB Dunford. Furthermore, TB Dunford, who was the managing director of the DH businesses, retired from Hudaco in 2021, so he is restructuring his financial affairs accordingly. As a result, they concluded that it would be a prudent investment strategy to diversify their investment risk by having DH dispose of part of its holding. DH had sold 35% of the initial holding in February 2018 and has now sold a further 25.9%. GR Dunford's direct shareholding in Hudaco remains unchanged Date of transaction : 31 March 2022 Nature of transaction : DH disposed of 240 000 ordinary Hudaco shares to certain collective investment schemes in exchange for the issuance of new units in those schemes by the acquirers (off-market). Price per share : Closing market price of R149.01 Value of transaction : R35 762 400 Clearance obtained : Yes Edenvale 5 April 2022 Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 05-04-2022 02:35:00 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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Hudaco Industries Limited published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 12:47:10 UTC.