JSE-listed Huge Group has established a share repurchase programme in terms of which the company and/or its subsidiaries may repurchase up to four-million ordinary shares, representing 2.3% of the company’s issued share capital, for an aggregate consideration not exceeding R20-million.
The repurchase programme will begin on January 22 and will extend to the date of the company’s next annual general meeting.
Shares bought under the repurchase programme may not be acquired at a price greater than 10% above the volume-weighted average trading price of Huge shares over the five trading days immediately preceding any particular repurchase and will be effected through the order book operated by the JSE.