CONVERGENET HOLDINGS LIMITED - Changes to the board of directors

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: ZAE000182440
(“ConvergeNet” or the “Company” or the “Group”)

CHANGES TO THE BOARD OF DIRECTORS

In compliance with section 3.59 of the Listings Requirements of
the JSE Limited (the “Listings Requirements”), the board of
directors of ConvergeNet (the “Board”) is pleased to announce the
following changes to the Board:

1.   Mr Peter van Zyl (“Mr Van Zyl”), who is currently acting as the
     Financial Director and Interim Chief Executive Officer of the
     Company, has been appointed as the permanent Chief Executive
     Officer of the Company with effect from 1 February 2015.

2.   Mr Charl de Villiers (“Mr De Villiers”) will replace Mr Van Zyl
     as Chief Financial Officer with effect from 1 February 2015.

     Mr De Villiers is a qualified Chartered Accountant (SA).  He
     holds B.Acc LLB (cum laude) and B.Acc (Hons) degrees from the
     University of Stellenbosch.   He completed his SAICA training
     with Deloitte in its financial services division and was later
     retained as an audit manager in the same division where he
     serviced a portfolio of asset managers and one of South
     Africa’s most prominent reinsurers.  In May 2013, Mr De
     Villiers joined AfrAsia Corporate Finance where he advised
     ConvergeNet Holdings Limited on the sale of Sizwe Africa IT
     Group and other operating subsidiaries as well as the
     subsequent conversion of the Company to an investment entity.

     The Company welcomes Mr De Villiers to the Board and looks
     forward to his contribution to the Group.


Rosebank
28 January 2015

Corporate adviser and sponsor: AfrAsia Corporate Finance
Proprietary Limited

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