Browsing: Praesidium Capital Management

The decision by three top directors at Huge Group to resign from the board on Friday came as a “complete surprise and shock”, said CEO James Herbst.

The share price of Adapt IT jumped by more than 18% in intraday trading on Monday following Huge Group’s unexpected decision on Friday to dramatically up its offer to buy the JSE-listed software services group.

Telecommunications company Huge Group has secured the backing of more than three-quarters of its shareholders for its R795-million pursuit of JSE-listed software services group Adapt IT, it said on Monday.