HUGE GROUP LIMITED - Update on the Company's share repurchases

Update on the Company's share repurchases

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


UPDATE ON THE COMPANY’S SHARE REPURCHASES

1. Background

   In line with the Company’s strategy to repurchase Huge ordinary shares (“Shares”) when it makes
   sense to do so, and as it has done in previous years, Huge shareholders are hereby notified that
   the Company continues to repurchase Shares under a general authority granted by shareholders
   (“Repurchase(s)”).

2. Repurchases during the 2020 reporting period

   Shareholders are referred to the voluntary announcement published by Huge on SENS on
   15 January 2020, in which the Company advised shareholders of a programme it had implemented
   to repurchase up to a maximum of 4 000 000 of its own Shares for a total maximum repurchase
   consideration of R20 million pursuant to and in accordance with the authority granted by
   shareholders at the Company’s annual general meeting held on Thursday, 29 August 2019 (“2020
   General Authority”). The 2020 General Authority commenced on 29 August 2019 and terminated
   on the date of the next annual general meeting of the Company, being 8 October 2020.

   In terms of the 2020 General Authority, Huge acquired 1 963 311 Shares at an average repurchase
   price of 367.2 cents per Share.

   To note, Huge was unable to undertake Repurchases from 1 September 2020 to
   25 November 2020 due to the Company being in a closed period pending the release of its
   August 2020 interim results and because Huge had not submitted the details of a repurchase
   programme to the JSE in writing prior to the commencement of the closed period.

3. Repurchases during the 2021 reporting period

   The most recent general authority to give effect to the Repurchases was granted on 8 October 2020
   (“2021 General Authority”). From 4 December 2020 until the date of this announcement, the
   Company has acquired 1 991 651 Shares at an average repurchase price of 548.4 cents per Share.
   A further 6 789 699 Shares remain available to be acquired under the 2021 General Authority.

   The Company entered a closed period on 1 March 2021, due to the pending release of its year end
   results in respect of the period ended 28 February 2021 (“2021 Closed Period”). The Company is
   continuing with the Repurchases during the 2021 Closed Period as it has, in accordance with
   paragraph 5.72(h) of the JSE Listings Requirements, submitted the details of a repurchase
   programme to the JSE in writing prior to the commencement of the 2021 Closed Period.


Johannesburg
17 March 2021

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 17-03-2021 10:28:00
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