Wrap Text
Investment portfolio update, changes to the board and change in function of directors
HUGE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/023587/06)
Share code: HUG ISIN: ZAE000102042
("Huge Group" or "the Company")
INVESTMENT PORTFOLIO UPDATE, CHANGES TO THE BOARD AND CHANGE IN
FUNCTION OF DIRECTORS
Shareholders are advised that, following the successful implementation of a
portfolio-wide productivity and efficiency enhancement initiative, the
workforce of Huge Connect Proprietary Limited (Huge Connect), Huge
Platforms Proprietary Limited (Huge Platforms), and Huge TNS Proprietary
Limited (Huge TNS), being Portfolio Investment Companies of Huge Group,
were recently amalgamated (the Amalgamation). This initiative focused on
right-sizing these workforces to align with current business and economic
conditions. Separation agreements were concluded with employees who
were affected by this process.
The Amalgamation will result in cost savings for the next 12 months of circa R16
million (after accounting for separation costs), and, thereafter, for each
subsequent 12-month period of circa R32 million.
Following the Amalgamation, the Company has made various appointments
in support of the continued focus on governance and reporting. Chantal
Human, who has held various roles within Huge Group's Investment Portfolio
Companies since 2019, most recently having served as the financial executive
of Huge TNS, has been appointed in the dual capacity of Financial Director of
Huge Connect and Chief Financial Officer of Huge Group. The Company has
appointed Rachelle Douglas, the current Financial Manager of Huge
Management Company, as Chief Reporting Officer of the Company.
In accordance with the transitional roadmap defined by the board of
directors, the role of Chief Operating Officer, which has been held by Zak van
de Merwe since 2021, has been made redundant as he will be assuming the
role of Chief Commercial Officer, replacing Tamryn van Tonder, who has
resigned.
Huge Distribution Proprietary Limited has delivered substantially improved
results in revenue and EBITDA following the diversification of its product portfolio
in 2024. Revenue of R25 million for the 12 months ended 28 February 2024
increased to R54 million for the 12 months ended 28 February 2025, with
revenue for the first 5 months of the 2026 financial year amounting to R40
million.
Huge NXTGN Proprietary Limited, which was commercially brought to market
in October 2024, is now revenue generating following the securing of various
key clients, including Pick n Pay, Boxer, and three other Mobile Virtual Network
Operator (MVNO) clients.
In terms of paragraph 3.59 of the Listing Requirements of the JSE Limited,
shareholders are advised that, following the appointment of Chantal Human
as Chief Financial Officer, Rachelle Douglas as Chief Reporting Officer and Zak
van de Merwe as Chief Commercial Officer of Huge Group, Chantal Human
and Rachelle Douglas have been appointed to the board of directors of the
Company with effect from 1 September 2025, while Zak van de Merwe remains
a director. Furthermore, shareholders are advised that Tamryn van Tonder has
resigned as a director of the Company with effect from 31 August 2025.
Profile of Chantal Human
Chantal Human is a Chartered Accountant registered with the South African
Institute of Chartered Accountants.
Profile of Rachelle Douglas
Rachelle Douglas is a Chartered Accountant registered with the South African
Institute of Chartered Accountants. She has been employed by Huge
Management since October 2024.
Johannesburg
1 September 2025
Sponsor
Questco (Pty) Ltd
Date: 01-09-2025 04:00:00
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