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CVN
CVN
CVN - ConvergeNet - Changes to the Board of Directors
CONVERGENET HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/015580/06)
Share code: CVN ISIN: ZAE000102067
("ConvergeNet" or "the company")
CHANGES TO THE BOARD OF DIRECTORS
Shareholders are advised that three directors of the company have resigned with
effect from 21 February 2012, which details are provided below.
Mr SLL Peteni, a non-executive director and chairman of the board and based in
Cape Town, wishes to reduce his number of board committee and travel commitments
for personal reasons and accordingly resigns from ConvergeNet. Mr Peteni has
served as a director on the board for 5 years having also been involved in the
founding of the business. Mr Peteni was a valuable contributor to the company
during his tenure and the board would like to thank him for his contribution to
the company and strong guidance of the board. Mr Peteni remains a shareholder
in the company and will continue to support the company going forward.
Mr RN Macdonald resigned as an independent non-executive from the ConvergeNet
board due to the fact that he is pursuing and wishes to focus on his personal
business initiatives. In addition, Mr Macdonald wishes to reduce his travel
obligations as he is based in London, England. The board would like to thank Mr
Macdonald for the years of value and contribution added to the company. The
board wishes him the best with his future endeavours.
Mr B Kekana, a non-executive director representing the interests of Sizwe Africa
(Proprietary) Limited, a subsidiary of the company, resigned from the board due
to the fact that he has recently disposed of his shareholding in YellowStar
(Proprietary) Limited, the minority shareholder in Sizwe and a shareholder in
ConvergeNet. Mr Kekana will be pursuing his own personal interests. The board
would like to thank Mr Kekana for his work and efforts during his time with the
company and wish him the best with his future endeavours.
Pursuant to Mr Peteni`s resignation as chairman the board announces the change
of role of Mr S Swana as an independent non-executive director to that of
interim chairman with immediate effect.
By order of the board
Johannesburg
22 February 2012
Sponsor
Arcay Moela Sponsors (Pty) Ltd
Date: 22/02/2012 12:22:02 Produced by the JSE SENS Department.
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