CONVERGENET HOLDINGS LIMITED - Changes to the board and appointment of Company Secretary

Changes to the board and appointment of Company Secretary

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


     CHANGES TO THE BOARD OF DIRECTORS AND APPOINTMENT OF COMPANY SECRETARY

     A.    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”) has been appointed as an independent non-executive director with
           effect from 21 November 2013.

           Mr Van Zyl has wide-ranging operational and entrepreneurial experience in private equity ventures,
           from technology businesses to property, financial services and the industrials sector. His strong
           background and training in finance has assisted in his many roles in the financial function of the
           various businesses, often to improve the function within the business to a listed company standard.
           He was integrally involved in the growth of the Saratoga Group of companies for the last decade, of
           which company he remains a non-executive director. Between 2004 and 2009 he assisted the
           Sekunjalo Group with their acquisitions and the integration of the financial function, which culminated
           in the role of Commercial Director. Peter joined the SA French board as the interim Financial Director
           shortly after this company’s rights issue until its mirror listing into Torre Industrial Holdings in 2012, at
           which time he took on the role of Chairman.

           The Company welcomes Mr Van Zyl to the Board and looks forward to gaining from his insight and
           experience.

     2.    The Company’s external auditors have confirmed the change in the status of the non-executive
           chairman of the Company, Mr Dumisani Tabata, from non-independent to independent.

     As a result of the abovementioned changes to the Board, the composition of the Company’s audit and risk
     committee now conforms to the provisions of the Listings Requirements in that (i) it consists of four
     independent members (the minimum requirement being three) and (ii) the Board is now chaired by an
     independent non-executive director. Furthermore, in compliance with the King III Code, the Board comprises
     of a majority of non-executive directors, the majority of which is now independent.

     B.    Appointment of Company Secretary

     In compliance with section 3.59(a) of the Listings Requirements, shareholders are hereby advised that Mr
     Warwick van Breda (“Mr Van Breda”) has been appointed as company secretary to ConvergeNet and its
     subsidiaries with effect from 1 December 2013.

     Mr Van Breda will be taking over the role of company secretary from Juba Statutory Services Proprietary
     Limited.

     Centurion
     25 November 2013

     Corporate advisor: AfrAsia Corporate Finance Proprietary Limited
     Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

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