Alt-X listed Huge Group has cautioned shareholders that it has entered into acquisition talks.<\/p>\n
In a cautionary announcement posted to the JSE’s SENS on Tuesday (28 April), the group said that it was in discussions regarding a “strategic acquisition” which could ultimately have an impact on the company’s securities.<\/p>\n
The company has said should a deal go forward, it would be put before shareholders, however it noted that the board of directors were in favour of the deal.<\/p>\n
“Although no formal agreement nor offer is yet in place, the board of directors of Huge are supportive of the Proposed Acquisition,” it said.<\/p>\n
Huge Group is an investment holding company, holding investments in subsidiary companies and a joint venture company operating in the telecommunications, media, technology and software industries<\/p>\n
By midday on the Alt-X, Huge Group’s shares were trading at R3.50 a share, giving it a market capitalisation of R388 million.<\/p>\n
Huge Group interim profit up<\/a><\/strong><\/p>\n Huge Group in R10 million MTN legal settlement<\/strong><\/a><\/p>\n