Objection to the granting by the Takeover Regulation Panel of an exemption from the requirement to make a mandatory CONVERGENET HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/015580/06) Share code: CVN ISIN: ZAE000102067 (“ConvergeNet” or the “Company”) OBJECTION TO THE GRANTING BY THE TAKEOVER REGULATION PANEL OF AN EXEMPTION FROM THE REQUIREMENT TO MAKE A MANDATORY OFFER Shareholders are referred to the SENS announcement dated 19 March 2013, wherein shareholders were advised that the Takeover Regulation Panel (“TRP”) had issued a ruling (“Ruling”) in which it exempted Yellow Star Group (Proprietary) Limited from the requirement in Regulation 86(4) of the Takeover Regulations to the Companies Act, 71 of 2008, to make a mandatory offer to the remaining shareholders of the Company. The circumstances surrounding the requirement to make the mandatory offer and the application for the exemption that was subsequently granted by the TRP have been fully traversed in previous SENS announcements, as well as in the circular to shareholders dated 12 February 2013. The SENS announcement of 19 March 2013 also advised shareholders that any request to appeal or review the Ruling would need to reach the TRP by no later than 17h00 on Tuesday, 26 March 2013. Shareholders are advised that an application to appeal the Ruling has been lodged with the TRP. The Company intends to oppose the appeal and will keep shareholders informed of all developments in this regard. Centurion 28 March 2013 Sponsor Deloitte & Touche Sponsor Services Proprietary Limited Corporate Adviser AfrAsia Corporate Finance Proprietary Limited Legal Adviser Werksmans Attorneys Date: 28/03/2013 03:29:00 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.