CONVERGENET HOLDINGS LIMITED - Update on the granting by the Takeover Regulation Panel of an exemption from the requirement to make a mandatory off
CVN 201304110053A
Update on the granting by the Takeover Regulation Panel of an exemption from the requirement to make a mandatory off
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 ON THE GRANTING BY THE TAKEOVER REGULATION PANEL OF AN
EXEMPTION FROM THE REQUIREMENT TO MAKE A MANDATORY OFFER
Shareholders are referred to the SENS announcement dated 28 March
2013, wherein shareholders were advised that an application to
appeal had been lodged with the Takeover Regulation Panel (“TRP”)
in respect of a ruling issued by the TRP in which it exempted
Yellow Star Group (Proprietary) Limited from the requirement in
Regulation 86(4) of the Takeover Regulations to the Companies Act,
71 of 2008, to make a mandatory offer to the remaining
shareholders of the Company.
Shareholders were further advised in that announcement that the
Company intended to oppose the appeal and keep shareholders
informed of all developments in this regard.
Accordingly, shareholders are advised that the TRP has arranged a
hearing before the Takeover Special Committee on 30 April 2013 at
10h00 at the TRP’s offices.
Shareholders will be advised of the outcome of that hearing in due
course.
Centurion
11 April 2013
Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited
Corporate Adviser
AfrAsia Corporate Finance Proprietary Limited
Legal Adviser
Werksmans Attorneys
Date: 11/04/2013 04:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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