CONVERGENET HOLDINGS LIMITED - Update announcement: extension of circular posting date

Update announcement: extension of circular posting date

CONVERGENET HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/015580/06)
Share code: CVN     ISIN: ZAE000182440
(the “Company”)

UPDATE ANNOUNCEMENT:   EXTENSION OF CIRCULAR POSTING DATE

Shareholders are referred to the announcement which was released on
SENS and published in the press on 8 September 2014 and 9 September
2014, respectively (the “Announcement”) regarding, inter alia:

-    the transfer of the Company’s listing from the “Computer
     Services” sub-sector to the “Investment Companies” sub-sector of
     the JSE;
-    the disposal of Chrystalpine Investments 9 Proprietary Limited
     (intermediary holding company of Andrews Kit Proprietary
     Limited,   trading   as   Contract   Kitting)   and   Structured
     Connectivity Solutions Proprietary Limited;
-    the acquisition of the following strategic equity interests:
     -   30% of Tellumat Proprietary Limited;
     -   17.64% of Digicore Holdings Limited;
     -   an additional 30.32% of Mine Restoration Investments
         Limited;
     -   an additional 16.30% of Goliath Gold Mining Limited; and
     -   40.00% of Praxis Financial Services Proprietary Limited;
-   a specific issue of shares for cash; and
-   a change of name of the Company.

All terms defined in the Announcement shall bear the same meaning in
this announcement.

In terms of Regulation 102(2)(a) of the Companies Regulations, the
Company is required to post the Circular within 20 business days
after the date of publication of the Announcement.

Shareholders are hereby advised that, in terms of Regulation
102(2)(b) of the Companies Regulations, the TRP has granted an
extension of the Circular posting date, which date will now be no
later than Friday, 12 December 2014.

The pending finalisation of definitive legal documentation, a
condition precedent to a number of corporate actions contained in
the Announcement, as well as the ongoing compilation of reporting
accountants’ reports on the historical financial information of the
various Category 1 acquisitions, necessitated the extension.

The salient dates in relation to the Transactions will be published
on SENS and in the press prior to the posting of the Circular.

Rosebank
10 October 2014

Sponsor   and  Corporate   Adviser:   AfrAsia   Corporate   Finance
Proprietary Limited

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