CONVERGENET HOLDINGS LIMITED - Inteim period adjustment

Inteim period adjustment

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

INTERIM PERIOD ADJUSTMENT


In terms of the JSE Limited Listings Requirements, companies are
required to publish an announcement to the Company’s shareholders
and the public of any information which may have a material effect
on the financial results of the Company and its material
subsidiaries.

Accordingly, the Company wishes to advise that it has made an
error in its judgement on the future utilisation of Deferred Tax
on its available Secondary Tax on Companies (“STC”) credits as a
result of the new Dividends Tax which became effective 1 April
2012. An adjustment is required to be made to the Company’s
interim results for the six months ended 29 February 2012 which
unaudited results were published on the Stock Exchange News
Service (“SENS”) on 30 April 2012.

The adjustment in relation to the unaudited results for the 6
month period ended 29 February 2012 is an increase in loss after
tax in the amount of R4 802 000. This adjustment accordingly gives
rise to an increase in loss per share and headline loss per share
to 0.69 and 2.36 cents respectively. Net asset value per share and
Net tangible asset value per share will decrease by 0.5 cents per
share to 50.9 and 29.6 cents per share.

Centurion
2 November 2012


Sponsors
Deloitte & Touche Sponsor Services (Pty) Ltd
(Registration number 1996/000034/07)

Date: 02/11/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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