Cash Payment applicable to Fractional Entitlements
Cash Payment applicable to Fractional Entitlements HUGE GROUP LIMITED (Registration number 2006/023587/06) Share code: HUG ISIN: ZAE000102042 (“Huge” or “the Company”) CASH PAYMENT APPLICABLE TO FRACTIONAL ENTITLEMENTS Introduction 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. Fractions 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 information. Johannesburg 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 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.