HUGE GROUP LIMITED - Further detailed cautionary announcement

Further detailed cautionary announcement

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

NEW CAUTIONARY AND UPDATE TO PREVIOUS CAUTIONARY ANNOUNCEMENTS

In addition to the cautionary announcements dated 28 April
2015, 10 June 2015 and 22 July 2015 respectively regarding
discussions in regard to a strategic acquisition of another
telecom company, which acquisition would require the approval
of the shareholders of Huge, shareholders are advised that
Huge is also engaged in discussions involving the possibility
of two further acquisitions.

The directors hereby announce that Huge has concluded the
following agreements with effect from 29 July 2015:

1.   An agreement with Forefront Capital Markets, LLC
     (“Forefront Capital”), in terms of which Forefront Capital
     will act as the Company’s financial advisor and placement
     agent on a non-exclusive basis in connection with the
     private placement (“the Offering”) of equity or equity-
     linked securities of the Company (“the Securities”)
     currently contemplated to be for an aggregate value of up
     to USD50 million, for the purpose of purchasing another
     telecom company (“the Target”) for approximately USD100
     million (“the Forefront Capital Agreement”). The terms of
     the Securities and the gross proceeds of such Offering
     (“Gross Proceeds”) will be negotiated substantially
     between Forefront Capital and the Company with one or more
     Investors (as defined in the Forefront Capital Agreement);
     and

2.   An agreement with a London based financial advisory
     service company (“the London-based Placement Agent”) in
     terms of which the London-based Placement Agent will also
     act as the Company’s financial advisor and placement agent
     (also on a non-exclusive basis) in connection with the
     private placement (“the Offering”) of equity or equity-
     linked securities of the Company (“the Securities”)
     contemplated to be for an aggregate value of up to USD50
     million (and in addition to the USD50 million detailed in
     paragraph 1), for the purpose of purchasing another
     telecom company (“the Target”) for approximately USD100
     million (“the London-based Placement Agent Agreement”).
     The terms of the Securities and the gross proceeds of the
     Offering (“Gross Proceeds”) will be negotiated
     substantially between the London-based Placement Agent and
   the Company with one or more Investors (as defined in the
   London-based Placement Agent Agreement).

The conclusion of agreements with two leading international
providers of financial advisory services places Huge in a
position to raise capital.

Accordingly, shareholders are advised to continue to exercise
caution when dealing in the Company's securities until a
further announcement is made.

Johannesburg
30 July 2015

Designated Adviser: Stellar Advisers (Pty) Ltd

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