TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Fixing SA’s power crisis is not complex: it simply takes the will to do better

      12 August 2022

      Consortium makes unsolicited bid for state’s 40% stake in Telkom

      12 August 2022

      Actually, solar users should pay more to access the grid – here’s why

      12 August 2022

      Telkom says MTN talks remain on track

      12 August 2022

      Analysis | Rain muddies the waters with approach to Telkom

      11 August 2022
    • World

      Tencent woes mount, even after $560-billion selloff

      12 August 2022

      Huawei just booked its first sales rise since US blacklisting

      12 August 2022

      Apple remains upbeat about iPhone sales even as Android world suffers

      12 August 2022

      Ether at two-month high as upgrade to blockchain passes major test

      12 August 2022

      Gaming industry’s fortunes fade as pandemic ends

      11 August 2022
    • In-depth

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Huge Group Heps to fall on directors’ share option charge

    Huge Group Heps to fall on directors’ share option charge

    News By Staff Reporter27 May 2021
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Huge Group CEO James Herbst

    Huge Group’s headline earnings per share (Heps) for the year ended 28 February 2021 will fall by as much as 29.9% after accounting for charges related to share options for its three executive directors.

    In February last year, Huge Group shareholders approved the granting of options to CEO James Herbst, chief operating officer Andy Openshaw and chief financial officer Samantha Sequeira.

    “IFRS (International Financial Reporting Standards) requires Huge to create a share-based payment equity reserve equal to the independent calculation of the value of the options and to do so by making non-cash charges in the income statement. These charges are non-cash charges that have no effect on the operating performance of the underlying companies,” the company said.

    These charges are non-cash charges that have no effect on the operating performance of the underlying companies

    Huge Group has accounted for a R34.6-million share-based payment expense, meaning the earnings per share (EPS) and Heps numbers are not comparable to last year’s.

    To address this, Huge has published normalised EPS and Heps forecasts for its full-year results. While Heps will fall by between 19.4% and 29.9%, normalised Heps will rise by between 5.3% and 21.1%. Normalised EPS will rise by between 0% and 10%, it said.

    Explanation

    “A comprehensive analysis and explanation of the executive option agreement is provided in the 2020 integrated report … and additional detail will be provided in the 2021 integrated report.”

    Huge Group, which is still pursuing an acquisition of fellow JSE-listed technology group Adapt IT, said it expects to publish its results for the financial year ended 28 February 2021 on 31 May. – © 2021 NewsCentral Media

    Now read: Huge Group directors set for options windfall

    Adapt IT Andy Openshaw Huge Group James Herbst Samantha Sequeira top
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleHow a VAT ‘error’ swung two Eskom contracts worth R341-million
    Next Article Operators to get emergency spectrum for longer: Icasa

    Related Posts

    Fixing SA’s power crisis is not complex: it simply takes the will to do better

    12 August 2022

    Consortium makes unsolicited bid for state’s 40% stake in Telkom

    12 August 2022

    Actually, solar users should pay more to access the grid – here’s why

    12 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Get your brand in front of TechCentral’s amazing audience

    12 August 2022

    Pricing Beyond CMYK: printers answer the FAQs

    11 August 2022

    How secure is your cloud?

    10 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.