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CVN
CVN
CVN - Convergenet Holdings - Amended Announcement - Directors` Dealings In
Securities
CONVERGENET HOLDINGS LIMITED
(Formerly Vestor Investments Limited)
Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)
Share code: CVN ISIN: ZAE000102067
("ConvergeNet" or "the company")
AMENDED ANNOUNCEMENT - DIRECTORS` DEALINGS IN SECURITIES
Shareholders are referred to the directors` dealings announcement as released at
16h07 on SENS today, and are advised that the sales were part of a Black
Economic Empowerment ("BEE") transaction whereby Kabusha Technology Investments
(Proprietary) Limited ("Kabusha") acquired all the 22 250 000 ConvergeNet shares
sold by directors. Mr Sandile Swana, another director of ConvergeNet, holds a
51% shareholding in Kabusha.
Accordingly, the following amended information relating to the directors`
dealings is disclosed:
Name of director: S Swana
Name of company: ConvergeNet Holdings Limited
Date of transaction: 12 February 2008
Class of securities: Ordinary shares
Number of securities: 1 147 500
Nature of transaction: Purchase of 2 250 000 shares by Kabusha
Purchase price: 87 cents per share
Total value of transaction: R1 957 500
Nature of interest: Indirect beneficial
Extent of interest: 0.19%
Name of director of subsidiary: MS van Biljoen
Date of transaction: 12 February 2008
Class of securities: Ordinary shares
Number of securities: 2 250 000
Nature of transaction: Sale
Purchase price: 87 cents per share
Total value of transaction: R1 957 500
Nature of interest: Indirect beneficial
Extent of interest: 0.38%
Name of director: S Swana
Name of company: ConvergeNet Holdings Limited
Date of transaction: 12 February 2008
Class of securities: Ordinary shares
Number of securities: 5 100 000
Nature of transaction: Purchase of 10 000 000 shares by Kabusha
Purchase price: 85 cents per share
Total value of transaction: R8 500 000
Nature of interest: Indirect beneficial
Extent of interest: 0.86%
Name of director: TM Modise
Name of company: ConvergeNet Holdings Limited
Date of transaction: 12 February 2008
Class of securities: Ordinary shares
Number of securities: 10 000 000
Nature of transaction: Sale
Purchase price: 85 cents per share
Total value of transaction: R8 500 000
Nature of interest: Indirect beneficial
Extent of interest: 1.68%
Name of director: S Swana
Name of company: ConvergeNet Holdings Limited
Date of transaction: 12 February 2008
Class of securities: Ordinary shares
Number of securities: 5 100 000
Nature of transaction: Purchase of 10 000 000 shares by Kabusha
Purchase price: 85 cents per share
Total value of transaction: R8 500 000
Nature of interest: Indirect beneficial
Extent of interest: 0.86%
Name of director: KBJ Kekana
Name of company: ConvergeNet Holdings Limited
Date of transaction: 12 February 2008
Class of securities: Ordinary shares
Number of securities: 10 000 000
Nature of transaction: Sale
Purchase price: 85 cents per share
Total value of transaction: R8 500 000
Nature of interest: Indirect beneficial
Extent of interest: 1.68%
Clearance for these trades was obtained in accordance with Rule 3.66 of the JSE
Listing Requirements.
Johannesburg
12 February 2008
Sponsor
Arcay Moela Sponsors (Pty) Ltd
Date: 12/02/2008 17:50:37 Produced by the JSE SENS Department.
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