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Huge Group Limited (JSE:HUG) News - Results of Offer to Adapt IT Shareholders
HUGE GROUP LIMITED
(Registration number 2006/023587/06)
Share code: HUG ISIN: ZAE000102042
(“Huge” or “the Company”)
RESULTS OF OFFER TO ADAPT IT SHAREHOLDERS
Shareholders of Adapt IT Holdings Limited (“Adapt IT”) are referred to the
announcements released on SENS by Huge, the last of which was dated 29 July
2021, in respect of the general offer as contemplated in section 117(c)(v) of the
Companies Act, 2008 (as amended) to the holders of ordinary shares of Adapt
IT to acquire up to 100% of the issued Adapt IT shares (“the Offer”).
The Offer closed at 12:00 (SA time) on Friday, 30 July 2021, and Huge is pleased
to announce that Adapt IT shareholders holding 2 612 719 Adapt IT shares,
representing 1.9% of Adapt IT’s total ordinary share capital, excluding treasury
shares, accepted the Offer. Accordingly, Huge has delivered 3 579 418 Huge
shares and a total fractional entitlement in cash of R39.52 in settlement of the
Offer consideration.
The Board wishes to welcome these Adapt IT shareholders as new shareholders
of Huge and looks forward to working with these shareholders to achieve
something Huge.
Responsibility Statement
The Board accepts responsibility for the information contained in this
announcement insofar as it relates to Huge. To the best of its knowledge and
belief, the information contained in this announcement is true and the
announcement does not omit anything likely to affect the importance of the
information.
Johannesburg
2 August 2021
Corporate Advisor and Transaction Sponsor
Questco Proprietary Limited
Legal Advisor
Herbert Smith Freehills South Africa LLP
Date: 02-08-2021 12:03:00
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