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CVN - Convergenet Holdings Limited - Further Trading Statement CONVERGENET HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/015580/06) Share code: CVN ISIN: ZAE000102067 ("ConvergeNet" or "the company") FURTHER TRADING STATEMENT In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ, by at least 20%, from those of the previous corresponding period. Accordingly, and following the previous trading statements published on 27 February 2012 and 3 April 2012, which latest trading statement advised shareholders that the headline earnings per share for the six months ending 29 February 2012 was expected to be approximately 160% lower compared to the previous six months ended 28 February 2011, the board of directors are reasonably certain that the revised expected decline in the headline earnings per share for the six months ended 29 February 2012 will be approximately 236% compared to the headline earnings per share for the comparable six months period ended 28 February 2011. Earnings per share, which were previously expected to be less than 20% different to compared to the prior period, is now expected to be approximately 112% less than the prior comparative period, moving to a loss per share for the six months ended 29 February 2012. This amended trading statement has been issued pursuant to the independent valuation of the Company`s investment in Future Cell (Proprietary) Limited and the associated put and call options between the Company and Pepkor Limited over the remaining 15% interest in Future Cell. This trading statement has not been reviewed or reported on by the Company`s external auditors. Johannesburg 19 April 2012 Sponsors Arcay Moela Sponsors (Pty) Ltd Date: 19/04/2012 16:30:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
