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Mon 16 Jun 2025
Close: 19 277c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Hudaco - lease agreement notice
Shareholders were advised that Hudaco Trading (Pty) Ltd. ("Hudaco Trading"), an 85% held subsidiary of Hudaco, has negotiated new lease agreements ("Lease Agreements") with Dufomo Investments (Pty) Ltd. ("Dufomo") for a period of five years in terms of which:
- Gear Pump Manufacturing ("GPM"), a division of Hudaco Trading, will continue to lease premises located at 15 Moody Avenue, Epping 1, Cape Town (the "GPM Premises"); and
- Joseph Grieveson, a division of Hudaco Trading, will continue to lease the premises located at 332 Aberdare Drive, Phoenix Industrial Park, Phoenix, Durban (the "Joseph Grieveson Premises").
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Hudaco - acquisition of Flosolve
Shareholders were advised that Hudaco has signed an agreement with Flosolve to acquire its trading assets and liabilities ("the Flosolve Business")("the Transaction") with effect from 1 June 2025 (the "Effective Date").
The purchase consideration (the "Consideration") will be based on the annual profit after tax of the Flosolve Business for the three years after the Effective Date, with an initial payment of R45m and a maximum Consideration of R125 million. This will be funded from cash generation and existing facilities of Hudaco.
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Hudaco - fulfilment of suspensive conditions
Shareholders were referred to the announcement released on SENS on 20 January 2025 wherein they were advised that Hudaco has signed an agreement to acquire the trading assets and liabilities of Insulation Advanced Technologies (Pty) Ltd., Isotec Balancing (Pty) Ltd., Isomec (Pty) Ltd. and Moholi Supplies (Pty) Ltd. (collectively "Isotec"), subject to the fulfilment of all suspensive conditions, which included the satisfactory completion of a due diligence and approval from the competition authorities.
Shareholders were advised that all suspensive conditions have now been fulfilled so the acquisition is unconditional. The effective date of the transaction is 1 May 2025.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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