| Mon 19 Mar 2012, 15:00 | | GEN - General - Mandatory offer extened by concert parties to the remaining |
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JSE
GEN
GEN - General - Mandatory offer extened by concert parties to the remaining
shareholders of Convergenet Holdings Limited: posting of circular and
salient dates
MANDATORY OFFER EXTENED BY CONCERT PARTIES TO THE REMAINING SHAREHOLDERS OF
CONVERGENET HOLDINGS LIMITED: POSTING OF CIRCULAR AND SALIENT DATES
Shareholders of ConvergeNet Holdings Limited, registration number
1998/015580/06 ("ConvergeNet") are referred to the announcement released on
SENS and published in the press on 22 February 2012 and 23 February 2012,
followed by the announcement on SENS and in the press on 12 March 2012 and 13
March 2012, respectively (the "Announcements"), regarding the mandatory offer
extended by concert parties (as defined in the Announcements) to the
remaining shareholders of ConvergeNet for a offer consideration of 26 cents
per share, in terms of section 123 of the Companies Act No. 71 of 2008, as
amended (the "Mandatory Offer").
Shareholders are hereby advised that a circular containing details of the
Mandatory Offer was posted to shareholders on Monday, 19 March 2012 (the
"circular").
The salient dates and times in respect of the Mandatory Offer are set out
below. Words and expressions herein and notes thereto shall have the same
meanings as assigned to them in the Announcements and the circular.
Circular posted to ConvergeNet shareholders on Monday, 19 March
Mandatory Offer opens at 09:00 on Tuesday, 20 March
Last day to trade in ConvergeNet shares Friday, 4 May
Shares trade "ex" the Mandatory Offer Monday, 7 May
Mandatory Offer closes at 12:00 on Friday, 11 May
Record date to determine which shareholders are eligible Friday, 11 May
to accept the Mandatory Offer
Result of Mandatory Offer released on SENS on Monday, 14 May
Offer consideration credited to the offer participant`s Monday, 14 May
accounts at his CSDP or stockbroker (as the case may be)
in cases where the shares surrendered in terms hereof are
held by such CSDP or stockbroker as nominee for the offer
participant (see note 4) on
Cheques posted to or credited to the bank accounts of the Monday, 14 May
offer participants (who hold their shares in their own
names) at the offer participant`s own risk, in settlement
of the offer consideration (subject to receipt by the
transfer secretaries of the relevant share certificates)
(see note 4) on
Results of the Mandatory Offer published in the press on Tuesday, 15 May
Notes:
1. The above dates and times are subject to amendment by the Offeror.
Any such amendment will be released on SENS and published in the
press.
2. Share certificates may not be dematerialised or rematerialised
between Monday, 7 May 2012 and Friday, 11 May 2012, both days
inclusive.
3. All times indicated above are South African times.
4. The offer consideration shall be credited to the offer
participant`s accounts at his CSDP or stockbroker (as the case may
be), in cases where the shares surrendered in terms hereof are held
by such CSDP or stockbroker as nominee for the offer participant,
within 6 (six) business days of acceptance of the offer, with the
last payment being made on the first business day following the
closing date.
5. The Offeror reserves the right to change the closing date to a
later business day, which shall be announced by the Offeror on SENS
and published in the press, and which date shall be a Friday and
shall not be earlier than 30 business days from the opening date of
the Mandatory Offer.
Johannesburg
19 March 2012
Corporate Advisor to the Offeror: AfrAsia Corporate Finance (Proprietary)
Limited
Date: 19/03/2012 15:00:02 Produced by the JSE SENS Department.
