HUGE GROUP LIMITED - Results of the General Meeting

Results of the General Meeting

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


RESULTS OF THE GENERAL MEETING

The Company is pleased to notify shareholders that the resolutions set out in the
relevant notice of general meeting were passed by the requisite majority of votes at
the general meeting held today, as set out below. Shareholders holding 88 555 381
ordinary shares, being 79.85% of the total issued share capital of Huge, attended the
meeting in person or by proxy.

Resolutions:                        Shares voted          Votes           Votes            Votes
                                                        abstained           for           against
                                     Number        %1          %1     Number       %2   Number      %2

Ordinary resolution number 1 –     88 555 381   79.85           0   88 555 381    100        0       0
subscription by the Company
for 185 ordinary shares in
Connectnet Broadband
Wireless Proprietary Limited
(“Connectnet”) at a
subscription price of
R418 000 000.

Ordinary resolution number 2 –     88 555 381   79.85          0    88 555 381    100        0       0
issue by the Company of
Renounceable Letters of
Allocation in respect of the
Company’s ordinary shares
and with a value of
R151 250 000 to Connectnet.

Ordinary resolution number 3 –     64 709 299   58.35       21.50   64 709 299    100        0       0
the specific issue of 17 500 000
new Huge Ordinary Shares to
Praesidium Capital
Management (Pty) Ltd

Special resolution number 1 –      88 555 381   79.85          0    88 555 381    100        0       0
authorisation for Huge to
repurchase its own shares up to
a maximum value of the
Connectnet profit warranty in
the event of any breach
thereof

Ordinary resolution number 4 –     88 555 381   79.85          0    88 555 381    100        0       0
enabling resolution


Notes:
1. As a percentage of total ordinary shares in issue.
2. As a percentage of shares voted.


The approval by shareholders of the above resolutions fulfils certain of the
conditions precedent to the implementation of the Subscription and Repurchase
Agreement entered into between the Company and Connectnet on
17 November 2017 (the “Transaction”). A number of further conditions precedent
remain outstanding and a subsequent announcement in this regard will be
made once the Transaction becomes fully unconditional.

Johannesburg
14 February 2017

Sponsor
Questco (Pty) Ltd

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