CONVERGENET HOLDINGS LIMITED - Interim period adjustment

Interim period adjustment

CONVERGENET HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/015580/06)
Share code: CVN     ISIN: ZAE000102067
(“ConvergeNet” or “the Company”)

INTERIM PERIOD ADJUSTMENT


In terms of the JSE Limited Listings Requirements, companies are
required to publish an announcement to the Company’s shareholders
and the public of any information which may have a material effect
on the financial results of the Company and its material
subsidiaries.

Accordingly, the Company wishes to advise that it has under
provided for taxation primarily as the result of an error made in
its judgement on the deductibility of the loss suffered on a
financial guarantee given. It was concluded that this loss was of
a capital nature. An adjustment is required to be made to the
Company’s interim results for the six months ended 28 February
2013 which unaudited results were published on the Stock Exchange
News Service (“SENS”) on 26 April 2013.

The adjustment in relation to the unaudited results for the 6
month period ended 28 February 2013 is an increase in loss after
tax in the amount of R4 119 000. This adjustment accordingly gives
rise to an increase in loss per share and headline loss per share
by 0.37 cents to 2.34 cents and by 0.36 cents to 2.06 cents
respectively. Net asset value per share and net tangible asset
value per share will decrease by 0.3 cents per share to 41.8 and
22.6 cents per share respectively.

Centurion
5 September 2013


Sponsors
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)

Date: 05/09/2013 11:16:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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