CVN - Convergenet Holdings Limited - Results of Annual General Meeting

CVN - Convergenet Holdings Limited - Results of Annual General Meeting          
CONVERGENET HOLDINGS LIMITED                                                    
Incorporated in the Republic of South Africa                                    
(Registration number 1998/015580/06)                                            
Share code: CVN     ISIN: ZAE000102067                                          
("ConvergeNet" or "the company")                                                
RESULTS OF ANNUAL GENERAL MEETING                                               
Shareholders are advised that at the reconvened annual general meeting of       
the company held on Friday, 27 January 2012 at Number 3 Anerley Road,           
Parktown, all the ordinary and special resolutions presented in the notice      
of annual general meeting were passed by the requisite majority of              
shareholders save for the following resolutions:                                
Ordinary Resolution Numbers 7, 9, 10: Appointment of Audit Committee            
members;                                                                        
Ordinary Resolution Number 11: Approval of the Remuneration Policy;             
Ordinary Resolution Number 12: General authority to allot and issue shares      
for cash;                                                                       
Special Resolution Number 1: General authority to acquire/(repurchase)          
shares;                                                                         
Special Resolution Number 2: Non-executive directors` remuneration; and         
Special Resolution Number 4: Amendment to the memorandum of incorporation.      
Shareholders are advised that, due to ordinary resolutions number 7, 9 and      
10, dealing with the appointment of audit committee members, not having been    
approved, the Company`s audit committee will not have the requisite number      
of independent non-executive directors as required by the Companies Act (No.    
71 of 2008) and accordingly the board of directors will address this            
situation in due course.                                                        
By order of the board                                                           
Johannesburg                                                                    
27 January 2012                                                                 
Sponsor                                                                         
Arcay Moela Sponsors (Pty) Ltd                                                  
Date: 27/01/2012 17:30:01 Supplied by www.sharenet.co.za                     
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