Huge Group welcomes end to dispute with the JSE

12 November 2009 - Huge Group

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Huge Group is pleased to announce that its dispute with the JSE has ended after the JSE announced it had imposed a public censure on the company relating to the purchase of derivatives contracts in October 2008.

Huge Group is also pleased that no fine was imposed on the company.

There will be no costs to the company relating to the fines imposed on directors Anton Potgieter and James Herbst in their personal capacities, nor will there be any costs to the company should Potgieter and Herbst take these penalties on appeal.

The Huge Group board of directors has stated that Potgieter and Herbst will have the full support of the board should they decide to appeal against the penalties.

Huge, as a company, now wishes to put this matter behind it and focus on its profitable managed telecommunications business and exciting developments such as the Eyeballs technology.

For further information:

Duncan Palmer
Marketing Manager
(t) +27 11 603 6000
(f) 086 569 3543
(c) +27 82 374 0146