A dispute between JSE-listed Huge Group-affiliated Huge Cellular and Cell C Service Provider Company, a company affiliated with Cell C, has been settled.
The duo have concluded an agreement that settles their respective disputes with the other.
“The settlement will not have a material effect on the earnings and headline earnings of Huge for the six months ended August 31, 2021, nor on the future earnings and headline earnings of Huge,” Huge said in a statement on October 20.
The settlement is also expected to have an immaterial impact on cash flows and the current cash position of Huge.
“The market perception of the value of an ordinary share of Huge may have been negatively impacted by the disputes. The board is of the view that the settlement should have a positive impact on the valuation of Huge,” it concluded.