Fulfilment of Condition Precedent to the Adapt IT Offer
Fulfilment of Condition Precedent to the Adapt IT Offer HUGE GROUP LIMITED (Registration number 2006/023587/06) Share code: HUG ISIN: ZAE000102042 (“Huge” or “the Company” or “the Group”) FULFILMENT OF CONDITION PRECEDENT TO THE ADAPT IT OFFER 1. Introduction Shareholders are referred to the circular to shareholders of Adapt IT Holdings Limited (“Adapt IT”) dated 16 April 2021 (“Circular”), and the previous announcements released by Huge on SENS (the last of which was dated 28 May 2021) advising that Huge had given notice to the board of directors of Adapt IT that Huge had made a general offer (“Offer”) as contemplated in section 117(c)(v) of the Companies Act, 2008 (as amended) to the holders of ordinary shares (“Adapt IT Shareholders”) of Adapt IT (“Adapt IT Shares”) to acquire up to 100% of the issued Adapt IT Shares. 2. Fulfilment of condition precedent Shareholders are advised that the Company has received acceptances of the Offer from Adapt IT Shareholders holding 80 000 Adapt IT Shares constituting 0.583% of the issued Adapt IT Shares, excluding treasury shares. The condition precedent set out in paragraph 3.5.1 of the Circular has therefore been fulfilled and the Offer is now unconditional as to acceptances. The Offer is still conditional upon receipt of a compliance certificate from the Takeover Regulation Panel as contemplated in Regulation 102(13) of the Companies Regulations, 2011. 3. Responsibility statement The Huge 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. 10 June 2021 Corporate Advisor and Transaction Sponsor Questco Proprietary Limited Legal Advisor Herbert Smith Freehills South Africa LLP Date: 10-06-2021 03:12:00 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.