CONVERGENET HOLDINGS LIMITED - Update regarding the acquisition of minority interests of two subsidiaries and the circular to shareholders
CVN 201301250015A
Update regarding the acquisition of minority interests of two subsidiaries and the circular to shareholders
CONVERGENET HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/015580/06)
Share code: CVN ISIN: ZAE000102067
(“ConvergeNet” or “the Company”)
UPDATE ANNOUNCEMENT REGARING THE ACQUISITION OF MINORITY
INTERESTS OF TWO SUBSIDIARIES AND THE CIRCULAR TO SHAREHOLDERS
Shareholders are referred to the detailed terms announcement
released on SENS on 23 November 2012 with regards to the
acquisition of the remaining minority interests in its two
largest subsidiary companies namely, a 25% interest in Sizwe
and a 26% interest in Contract Kitting (the “corporate
actions”).
In terms of the JSE Listings Requirements, the circular
detailing the terms of the corporate actions, the fairness
opinions prepared by an independent expert, a notice of the
General Meeting and a form of proxy must be posted to
shareholders within 28 days from the date of the detailed SENS
announcement. However, due to the December slow down certain
delays have taken place and the circular is still in a process
of being approved by the JSE. Accordingly, the circular to
shareholders is expected to be posted on or about 8 February
2013.
A further announcement will be published once the circular has
been posted.
Johannesburg
25 January 2013
Corporate adviser: AfrAsia Corporate Finance (Pty) Ltd
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
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