HDC - Hudaco Industries Limited - Fulfillment of conditions precedent
HDC
HDC
HDC - Hudaco Industries Limited - Fulfillment of conditions precedent
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
FULFILLMENT OF CONDITIONS PRECEDENT RE THE ACQUISITION OF THE TRADING ASSETS
AND LIABILITIES OF GLOBAL COMMUNICATIONS (PTY) LIMITED AND IKWEZI MAINTENANCE
AND COMMUNICATIONS (PTY) LIMITED (COLLECTIVELY "GLOBAL")
Shareholders are referred to the detailed terms announcement released on SENS
on 19 November 2010 and published in the press on 22 November 2010 wherein
Hudaco announced the acquisition of the trading assets and liabilities of
Global subject to the following suspensive conditions:
- approval of the transaction by the relevant Competition Authorities;
- the satisfactory due diligence of the business of Global;
- consent by the major suppliers of Global to continue their supply
arrangements;
- approval of the transaction by the Hudaco board of directors;
- conclusion of service agreements and restraint of trade agreements by
Global`s major shareholders; and
- the transfer of the lease over Global`s property in Pretoria.
Shareholders are advised that all of the suspensive conditions have been met.
2 March 2011
Sponsors
Nedbank Capital
Date: 02/03/2011 10:28:01 Produced by the JSE SENS Department.
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