GEN - General - Results of mandatory offer to shareholders of Convergenet
JSE
GEN
GEN - General - Results of mandatory offer to shareholders of Convergenet
Holdings Limited
RESULTS OF MANDATORY OFFER TO SHAREHOLDERS OF CONVERGENET HOLDINGS LIMITED
Shareholders of ConvergeNet Holdings Limited, registration number 1998/015580/06
("ConvergeNet") are referred to the announcements released on SENS on 22
February 2012, 12 March 2012 and 30 April 2012 (the "Announcements"), and to the
circular dated 19 March 2012 (the "Circular") regarding the mandatory offer
extended by the offeror to the remaining shareholders of ConvergeNet for an
offer consideration of 26 cents per share, in terms of section 123 of the
Companies Act No. 71 of 2008, as amended.
Words and expressions herein shall have the same meanings as assigned to them in
the Announcements and the Circular.
Shareholders are hereby advised that the mandatory offer, which closed at 12:00
on Friday, 11 May 2012, was accepted in respect of 57 322 293 ConvergeNet
shares, comprising 30.90% of the total number of shares held by the remaining
ConvergeNet shareholders, which were the subject of the mandatory offer. For
the purpose of clarity, "remaining ConvergeNet shareholders" means exclusion of
the concert parties, the shareholders who had provided irrevocable undertakings
not to accept the mandatory offer and ConvergeNet and its subsidiaries (in so
far as shares are held in treasury).
Accordingly, the mandatory offer has resulted in an increase in the collective
shareholding in ConvergeNet controlled by the offeror to 48.93%.
Johannesburg
14 May 2012
Corporate Advisor to the Offeror: AfrAsia Corporate Finance (Proprietary)
Limited
Date: 14/05/2012 16:02:43 Produced by the JSE SENS Department.
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