HUGE GROUP LIMITED - Capital Structure and Finance Facilities

Release Date: 21/12/2018 09:05
Code(s): HUG
Wrap Text
Capital Structure and Finance Facilities

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


Huge advises shareholders that it has concluded a ZAR200 Million Term
Facility Agreement with Futuregrowth Asset Management Proprietary
Limited (the Facility).

The Facility replaces the ZAR90 Million Term Facility Agreement
concluded as part of the acquisition of Connectnet Boardband Wireless
Proprietary Limited and Sainet Internet Proprietary Limited and provides
Huge with access to additional funds to fulfil its growth aspirations. Huge
will draw down on the Facility as and when its needs require.

The principal amounts outstanding of the Facility will be payable in
quarterly tranches of R10 million, with the final quarterly tranche due for
payment in December 2023. Interest on the Facility is payable on a
quarterly basis.

21 December 2018

Questco Corporate Advisory (Pty) Ltd.

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