HUGE GROUP LIMITED - Update on the Financial Sector Conduct Authority investigation
Update on the Financial Sector Conduct Authority investigation
HUGE GROUP LIMITED
(Registration number 2006/023587/06)
Share code: HUG
ISIN: ZAE000102042
(“Huge” or the “Company”)
UPDATE ON THE FINANCIAL SECTOR CONDUCT AUTHORITY INVESTIGATION
Shareholders are referred to the announcements released by the Company on SENS on 17 March
2021 and 31 March 2021 setting out and clarifying details of various share repurchases (“Repurchase
Transactions”) undertaken by Huge pursuant to, and in accordance with, general authorities granted
by shareholders during the Company’s 2020 reporting period and 2021 reporting period, as well as a
notification the Company had received from the Financial Sector Conduct Authority (“FSCA”) to
determine whether the Repurchase Transactions in Huge securities during the period from 1 August
2020 to 15 March 2021 constitute “Prohibited Trading Practices” as defined in section 80 of the Financial
Markets Act, No. 19 of 2012 (“Investigation”).
Huge is pleased to inform shareholders that the FSCA has concluded that there is insufficient evidence
to find that the Repurchase Transactions by Huge during the investigation period constituted Prohibited
Trading Practices as defined in Section 80 of the Financial Markets Act No 19 of 2012.
Johannesburg
15 April 2021
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Legal advisor
Herbert Smith Freehills South Africa LLP
Date: 15-04-2021 04:39:00
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