HUGE GROUP LIMITED - Issue by Huge SPV 1 Proprietary Limited of Preference Shares
Issue by Huge SPV 1 Proprietary Limited of Preference Shares
HUGE GROUP LIMITED
(Registration number 2006/023587/06)
Share code: HUG ISIN: ZAE000102042
("Huge Group" or "the Group" or "the Company")
Issue by Huge SPV 1 Proprietary Limited of Preference Shares
On 6 December 2023, Huge SPV 1 Proprietary Limited (Huge SPV 1), a
wholly owned subsidiary company of Huge Group, concluded a
preference share transaction with Rand Merchant Bank (RMB), a division
of FirstRand Bank Limited (the Transaction).
The salient terms of the Transaction are:
1. RMB will subscribe for 1 500 A Preference Shares for a subscription
price of R100 000 per A Preference Share, and an aggregate
subscription consideration of R150 million (the A Preference Shares);
2. RMB will subscribe for 1 500 B Preference Shares for a subscription
price of R100 000 per B Preference Share, and an aggregate
subscription consideration of R150 million (the B Preference Shares);
3. The Cumulative Capital Redemption of A Preference Shares shall be
as follows:
a. 30% at the end of year three;
b. 47% at the end of year four; and
c. 100% at the end of year five.
4. The B Preference Shares are redeemable in five years as follows:
a. 100% at the end of year five.
The subscription consideration from the A Preference Shares and the B
Preference Shares will be used to make investments and settle, amongst
other obligations to RMB, the existing Term Facility Outstandings to RMB
of R162 562 500.
Johannesburg
14 December 2023
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 14-12-2023 12:25:00
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.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
