| Mon 7 Feb 2011, 8:00 | | HDC - Hudaco Industries Limited - Announcement regarding the acquisition of |
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HDC
HDC
HDC - Hudaco Industries Limited - Announcement regarding the acquisition of
the trading assets and liabilities
HUDACO INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1985/004617/06)
Share code: HDC & ISIN: ZAE000003273
("Hudaco")
ANNOUNCEMENT REGARDING THE ACQUISITION OF THE TRADING ASSETS AND LIABILITIES
OF PENTAGON DISTRIBUTIONS (PROPRIETARY) LIMITED AND PENTAGON DIGITAL
SURVEILLANCE EQUIPMENT CC (COLLECTIVELY "PENTAGON")
Further to the information set out in the annual results announcement of
Hudaco Industries Ltd on 31 January 2011, we provide the following details
regarding the acquisition of Pentagon. Hudaco has signed binding Heads of
Agreement to acquire the trading assets and liabilities of Pentagon from 1
March 2011, subject to certain suspensive conditions which are expected to
be fulfilled before this date.
Pentagon is an electronic security distributor and video Internet Protocol
specialist providing turnkey security solutions for building management
focussing on closed-circuit television (CCTV) products. Typical
installations are shopping centres, urban surveillance, estates,
institutions, prisons and mines. Products offered include CCTV, public
address evacuation systems, intrusion and access control, all sourced from
leading international producers such as Bosch, Arecont and Dell.
The business of Pentagon is an ideal fit for Hudaco and strongly complements
the business of Elvey Security Technologies, an established division within
Hudaco that distributes security equipment, mainly intruder detection and
access control products. Pentagon will operate as a separate division of
Elvey Security Technologies.
The transaction falls below the threshold of a category 2 transaction, and
accordingly this announcement is purely for information purposes.
Johannesburg
04 February 2011
Investment bank and sponsor
Nedbank Capital
Date: 07/02/2011 08:00:02 Produced by the JSE SENS Department.
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