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HUG - Huge Group Limited - Withdrawal of cautionary announcement

Release Date: 12/12/2007 12:00
Code(s): HUG
Wrap Text

HUG - Huge Group Limited - Withdrawal of cautionary announcement HUGE GROUP LIMITED (Incorporated in the Republic of South Africa) (formerly Vanquish Fund Managers Limited) (Registration number 2006/023587/06) Share code: HUG & ISIN: ZAE000102042 ("Huge" or "the Company") WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the detailed cautionary announcement published on SENS on 11 December 2007, whereby Huge will acquire 59% of the shares and loan account claims against iTalk Cellular (Proprietary) Limited ("iTalk"), with effect from 1 March 2007, from the shareholders of iTalk, being the Bebinchand Seevnarayan Trust, subject to certain conditions precedent. Shareholders are advised that a substantive condition precedent, relating to pre-emptive rights of Mobile Telephone Networks Holdings (Proprietary) Limited to shares in iTalk, has now been waived. Accordingly the cautionary announcement in relation to the transaction is now withdrawn. Johannesburg 12 December 2007 Corporate Advisor Manhattan Equity Corporate Finance (Proprietary) Limited Designated Advisor Arcay Moela Sponsors (Proprietary) Limited Registered office: Block 2, Woodlands Drive Office Park, 5 Woodlands Drive, Woodmead, Johannesburg, 2191 (PO Box 16376, Dowerglen, 1610) Transfer secretaries Computershare Limited, Ground Floor, 70 Marshall Street, Johannesburg Directors: EF Lediga*, BA McQueen*, AD Potgieter (CEO), JC Herbst (FD), MR Nordien, VM Mokholo *Non-executive Date: 12/12/2007 12:00:01 Supplied by www.sharenet.co.za 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.

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