| Fri 2 Dec 2011, 11:00 | | CVN - Convergenet Holdings Limited - Disclosure of the acquisition and |
|
CVN
CVN
CVN - Convergenet Holdings Limited - Disclosure of the acquisition and
disposal of securities in terms of Section 122(3)(B) of The Companies Act 71
of 2008
CONVERGENET HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)
Share code: CVN ISIN: ZAE000102067
("ConvergeNet" or "the company")
DISCLOSURE OF THE ACQUISITION AND DISPOSAL OF SECURITIES IN TERMS OF SECTION
122(3)(b) OF THE COMPANIES ACT 71 OF 2008
ConvergeNet has received notification from ABSA Bank Limited ("Absa"), in
terms of Section 122(1)(a) of the Companies Act (71 of 2008) ("the Act"),
which requires investors to notify the Company within 3 business days after
having:
1.) Acquired a beneficial interest in sufficient securities of a class
issued by the Company such that, as a result of the acquisition, the
investor holds a beneficial interest in securities amounting to 5%, 10%,
15%, or any further whole multiple of 5%, of the issued securities of
that class; or
2.) Disposed of a beneficial interest in sufficient securities of a class
issued by the Company such that, as a result of the disposition, the
investor no longer holds a beneficial interest in securities amounting
to a particular multiple of 5% of the issued securities of that class.
Once notification on Form TRP 121.1 by the Company has been received from an
investor, the Company will file a copy of the TRP 121.1 together with a copy
of the TRP 121.2 with the Takeover Regulations Panel ("TRP") as well as
report the information to the holders of the relevant class of securities on
SENS unless the notice concerned a disposition of less than 1% of the class
of securities.
Accordingly, Absa notified the Company that it transferred 9.4% of the
securities of the company on 18 November 2011 to Absa Trading and Investment
Solutions Limited ("Absa Trading"), which effectively is deemed a disposal by
Absa and an acquisition by Absa Trading.
Similarly, Absa Trading provided notification to the Company that it had
acquired 9.4% of the Company`s securities.
Johannesburg
02 December 2011
Sponsor
Arcay Moela Sponsor (Proprietary) Limited
Date: 02/12/2011 11:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
