HUGE GROUP LIMITED - Director's dealing in securities

Director's dealing in securities

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

DIRECTOR’S DEALING IN SECURITIES

Shareholders are hereby advised that the Company has entered into
an agreement (“the Agreement”) in terms of which Huge shall acquire
75% of the issued share capital of Accknowledge Systems Proprietary
Limited (“Accknowledge”) for a purchase consideration of R3 750 000,
to be settled by the issue of 468 750 new Huge shares (“the
Transaction”) at an issue price of R8.00 per Huge share.

Accknowledge develops, maintains and supplies the WebAccounting
Accounting Software Suite (“WebAccounting” or “the Accounting
Software”). The Accounting Software is developed locally in South
Africa and was released to the market in 2005. Huge has been using
WebAccounting to keep its accounting books and records since 2008.
WebAccounting is a critical piece of software technology for Huge
Telecom Proprietary Limited (“Huge Telecom”), a subsidiary company
of Huge.     Huge Telecom’s billing and rating engine, HIVE, and
WebAccounting are integrated pieces of software. The directors are
of the view that owning Accknoweldge is not only important for
controlling this proprietary intellectual property, which is central to
Huges’ Back Office functions, but also because it will be more cost
effective than acquiring and customising a third party product.

James Herbst (“the Director”), an executive director of Huge, holds
13.354% of the ordinary shares of Accknowledge and is accordingly
one of the sellers in terms of the Agreement. As a consequence, the
Director will receive 62 598 Huge ordinary shares when the Transaction
is implemented. The consideration ratio in relation to the aggregated
related party aspects of the Transaction is below 0.25% and as such the
Transaction is not considered a related party transaction. In addition,
neither the Director nor any of his associates have entered into any
related party transactions with Huge in the last twelve months.

The Transaction creates an obligation to make the necessary
disclosures in terms of paragraphs 3.63 to 3.66 of the Listings
Requirements of the JSE Limited in terms of directors’ dealings
announcements.

Accordingly, the following information is disclosed in respect of the
acquisition of Huge ordinary shares by a director of the Company:


Name of director:             J Herbst (Executive)
Nature of interest:           Direct beneficial
Date of transaction:          4 June 2017
Class of securities:          Ordinary shares
Nature of transaction:        Off market acquisition
Number of securities:         62 598
Price per share:              800 cents per share
Value of transaction:         R500 784
Clearance to deal obtained:   Yes


Johannesburg
6 June 2017

Sponsor
Questco Proprietary Limited

Date: 06/06/2017 09:43:00 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.