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Huge Group Limited | Registration No 2006/023587/06
Non-Executive Directors: Dr DF da Silva (Non-Executive Chairman) BSc (Mech Eng) PhD,
SP Tredoux (Lead Independent Director), Dr B Armstrong BSc MSc PhD, DR Gammie CA(SA),
C Lyons BCom (SA) DSoc (UK), VM Mokholo BSc
Executive Directors: JC Herbst (CEO) BCom BAcc CA(SA) CFA, AP Openshaw (COO) BPharm,
S Sequeira (CFO) CA(SA)
Company Secretary: KE Robinson LLB LLM FCIS
Postal: PO Box 1585, Kelvin, 2054
Physical: Unit 6, 1 Melrose Boulevard, Melrose
Arch, Johannesburg, 2076
HUGE GROUP LIMITED
BROAD-BASED BLACK ECONOMIC EMPOWERMENT
COMPLIANCE WITH THE B-BBEE CODES
The Board of Huge Group Limited (Huge) has identified that compliance with the Amended
ICT Sector Codes of the Broad-Based Black Economic Empowerment Act 53 of 2003 (B-
BBEE Codes) is a key strategic objective of the Growing Huge Strategy. It constitutes a key
component of being a responsible corporate citizen and ensuring the sustainability of its
businesses in a more representative society. During the prior financial year, Huge
commenced the implementation of its B-BBEE Compliance Plan with the aim of bringing its
major subsidiary companies into compliance with the B-BBEE Codes.
Huge is committed to driving transformation in ways that are sustainable, credible and of
benefit to all its stakeholders. On 29 August 2019, Huge published a Terms Announcement in
respect of the disposal of an equity interest in Huge Connect Proprietary Limited (Huge
Connect) to a B-BBEE investor (the Proposed Transaction). The Proposed Transaction is in
keeping with this objective and the spirit of transformation and constitutes a positive step in
aligning Huge Connect’s ownership structure to the ownership elements of the B-BBEE Codes.
It is envisaged that the implementation of the Proposed Transaction will significantly improve
Huge Connect’s B-BBEE credentials over the long-term, thus ensuring that it will continue to
maintain its competitive advantage in both the private and public sector.
During the reporting period, Huge also concluded two empowerment transactions in terms
of which it sold a controlling stake in two of its subsidiary companies to a B-BBEE investor.
These companies are now positioned to become enterprise development and supplier
development entities for Huge and its external customers. The Board is confident that these
entities will create value for both Huge and its B-BBEE investor.
Huge is required by the JSE Limited to submit an annual compliance report to the B-BBEE
Commission in respect of its compliance with the B-BBEE Codes. In this regard Huge has
undertaken a separate verification audit for the prior financial year. This audit takes into
account the fact that Huge, as a separate statutory entity and not a consolidation of its
subsidiary companies, performs the function of a holding company for the wider group.