In terms of the agreement, the group said it will issue 93 million ordinary shares of 100 of 1c each to the Trust at an issue price of 550c a share, a premium of 549.99c per share.<\/p>\n
Huge has also given the Trust an option to require Huge to acquire those shares at a price of 335.27c per share. This option has to be exercised on or before June 30 this year.<\/p>\n
The agreement also entitles Huge Group to secure an option allowing it to acquire those shares at a price of 550c per share. This option is to be exercised on or before June 30, 2010.<\/p>\n
If the Trust decides to exercise the former option, Huge said that it has already secured undertakings from a number of institutions to subscribe for 23.8 million of the Trust's iTalk shares, and it has also secured debt funding from Investec Private Bank, a division of Investec Bank Limited, to enable it to acquire 69.19 million of those shares.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
AltX-listed least-cost routing company Huge Group said on Tuesday it had signed an agreement to acquire 59% of Bebinchand Seevnarayan Trust’s ordinary shares in iTalk Cellular.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-3276","post","type-post","status-publish","format-standard","hentry","category-cellular"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/3276"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=3276"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/3276\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=3276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=3276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=3276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}