29 Jul - 2 min read

Cash Payment applicable to Fractional Entitlements

Cash Payment applicable to Fractional Entitlements

(Registration number 2006/023587/06)
Share code: HUG ISIN: ZAE000102042
(“Huge” or “the Company”)



Adapt IT shareholders are referred to the announcement released on SENS on
20 July 2021, confirming the finalisation information in respect of the Offer by
Huge to shareholders of Adapt IT Holdings Limited.

The definitions used in the circular to Adapt IT shareholders dated 16 April 2021
have been used in this announcement.


Where an Offer Participant becomes entitled to any fraction of an Offer
Consideration Share pursuant to the Offer, such entitlement will be rounded
down to the nearest whole Offer Consideration Share, resulting in allocations of
whole Huge Shares only and a cash payment for the fraction.

The applicable cash payment will be determined with reference to the volume-
weighted average traded price of Huge Shares on the JSE on Wednesday,
28 July 2021, discounted by 10%, being an amount of R4.77045. There will be no
withholding tax applicable.

The tax implications of the Offer on Offer Participants will depend on their
individual tax circumstances. Offer Participants should seek advice from
appropriate professional advisers if they are in any doubt whatsoever about
their tax position.

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

29 July 2021

Corporate Advisor and Transaction Sponsor
Questco Proprietary Limited

Legal Advisor
Herbert Smith Freehills South Africa LLP

Date: 29-07-2021 11:00:00
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