Update on the granting by the Takeover Regulation Panel of an exemption from the requirement to make a mandatory off CONVERGENET HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number 1998/015580/06) Share code: CVN ISIN: ZAE000102067 (“ConvergeNet” or the “Company”) UPDATE ON 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 28 March 2013, wherein shareholders were advised that an application to appeal had been lodged with the Takeover Regulation Panel (“TRP”) in respect of a ruling issued by the TRP 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. Shareholders were further advised in that announcement that the Company intended to oppose the appeal and keep shareholders informed of all developments in this regard. Accordingly, shareholders are advised that the TRP has arranged a hearing before the Takeover Special Committee on 30 April 2013 at 10h00 at the TRP’s offices. Shareholders will be advised of the outcome of that hearing in due course. Centurion 11 April 2013 Sponsor Deloitte & Touche Sponsor Services Proprietary Limited Corporate Adviser AfrAsia Corporate Finance Proprietary Limited Legal Adviser Werksmans Attorneys Date: 11/04/2013 04:49:00 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.