GEN - General - Results of mandatory offer to shareholders of Convergenet

GEN - General - Results of mandatory offer to shareholders of Convergenet       
Holdings Limited                                                                
RESULTS OF MANDATORY OFFER TO SHAREHOLDERS OF CONVERGENET HOLDINGS LIMITED      
Shareholders of ConvergeNet Holdings Limited, registration number 1998/015580/06
("ConvergeNet") are referred to the announcements released on SENS on 22        
February 2012, 12 March 2012 and 30 April 2012 (the "Announcements"), and to the
circular dated 19 March 2012 (the "Circular") regarding the mandatory offer     
extended by the offeror to the remaining shareholders of ConvergeNet for an     
offer consideration of 26 cents per share, in terms of section 123 of the       
Companies Act No. 71 of 2008, as amended.                                       
Words and expressions herein shall have the same meanings as assigned to them in
the Announcements and the Circular.                                             
Shareholders are hereby advised that the mandatory offer, which closed at 12:00 
on Friday, 11 May 2012, was accepted in respect of 57 322 293 ConvergeNet       
shares, comprising 30.90% of the total number of shares held by the remaining   
ConvergeNet shareholders, which were the subject of the mandatory offer.  For   
the purpose of clarity, "remaining ConvergeNet shareholders" means exclusion of 
the concert parties, the shareholders who had provided irrevocable undertakings 
not to accept the mandatory offer and ConvergeNet and its subsidiaries (in so   
far as shares are held in treasury).                                            
Accordingly, the mandatory offer has resulted in an increase in the collective  
shareholding in ConvergeNet controlled by the offeror to 48.93%.                
Johannesburg                                                                    
14 May 2012                                                                     
Corporate Advisor to the Offeror: AfrAsia Corporate Finance (Proprietary)       
Limited                                                                         
Date: 14/05/2012 16:02:43 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.