To view the PDF file, sign up for a MySharenet subscription.

HUGE GROUP LIMITED - Settlement of dispute between Huge Cellular Pty Ltd and Cell C Service Provider Company Pty Ltd

Release Date: 20/10/2021 13:31
Code(s): HUG     PDF:  
Wrap Text
Settlement of dispute between Huge Cellular Pty Ltd and Cell C Service Provider Company Pty Ltd

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


SETTLEMENT OF DISPUTE BETWEEN HUGE CELLULAR PROPRIETARY LIMITED
AND CELL C SERVICE PROVIDER COMPANY PROPRIETARY LIMITED

The board of directors of Huge is pleased to inform shareholders that, as
of today, Wednesday, 20 October 2021, Huge Cellular Proprietary
Limited, a company affiliated with Huge, and Cell C Service Provider
Company Proprietary Limited, a company affiliated with Cell C Limited,
have concluded an agreement that settles (the Settlement) their
respective disputes (the Disputes) with the other.

The Settlement will not have a material effect on the earnings and
headline earnings of Huge for the six months ended 31 August 2021 nor
on the future earnings and headline earnings of Huge.

The Settlement is also expected to have an immaterial impact on cash
flows and the current cash position of Huge.

The market perception of the value of an ordinary share of Huge may
have been negatively impacted by the Disputes. The Board is of the view
that the Settlement should have a positive impact on the valuation of
Huge.

Johannesburg
20 October 2021

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 20-10-2021 01:31:00
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.

Share This Story