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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
transaction 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 three businesses
transaction (the DH businesses) to Hudaco Trading
(Pty) Ltd, 85% owned by Hudaco. In terms
of the sale agreement, DH purchased Hudaco
shares on the open market, which shares
were to be retained for a minimum period,
which expired in 2016.
TB Dunford, who was the managing director
of the DH businesses, retired from Hudaco
in 2021, and has been restructuring his
financial affairs accordingly. As part of
a prudent investment strategy to diversify
investment risk, DH has been disposing of
its holding on a phased basis, commencing
in February 2018 and has now sold a
further tranche.
After the transaction, DH still owns
250 000 Hudaco shares and GR Dunford’s
direct shareholding of 397 379 shares
remains unchanged.
Date of transaction : 3 April 2023
Nature of transaction : DH disposed of 157 212 ordinary Hudaco
shares to a collective investment scheme
in exchange for the issuance of new units
in that scheme by the acquirer (off-
market).
Price per share : 10-day VWAP of R161.35
Value of transaction : R25 366 156.20
Clearance obtained : Yes
Edenvale
4 April 2023
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank
Limited
