HDC 201311220015A
Further announcement regarding the acquisition of the Dunford Group (ôDGö)

HUDACO INDUSTRIES LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1985/004617/06)

Share code: HDC & ISIN: ZAE000003273

(ôHudacoö or ôthe Companyö)



FURTHER ANNOUNCEMENT REGARDING THE ACQUISITION OF THE DUNFORD GROUP (ôDGö)





Shareholders are referred to the announcement released on SENS on 1 November 2013 (ôthe terms

announcementö) setting out details of the acquisition by Hudaco of DG (ôthe transactionö).



The terms announcement disclosed that Hudaco was transacting with a ôsmall related partyö as

defined by the JSE Listings Requirements and KPMG had been appointed as the independent expert.



Hudaco is now in a position to confirm that KPMG have reviewed the terms and conditions of the

transaction and are of the opinion that these terms and conditions are fair to Hudaco shareholders.

KPMG has expressed this opinion in writing and such opinion is available for inspection at the

CompanyÆs registered office for a period of 28 days from the date of this announcement.



Johannesburg



22 November 2013







Sponsor



Nedbank Capital




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