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CONVERGENET HOLDINGS LIMITED - Updated Trading Statement

Release Date: 18/04/2013 15:20
Code(s): CVN     PDF:  
Wrap Text
Updated 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”)

UPDATED 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.

Shareholders are referred to the previous trading statement
published on SENS on 8 April 2013 which advised shareholders
that the board of directors were reasonably certain that the
expected increase in the loss per share for the six months
ended 28 February 2013 will be approximately between 190% and
195% compared with the comparable period ended 29 February
2012 and the decline in headline loss per share for the six
months ended 28 February 2013 will be approximately 25% and
30% compared to the headline loss per share for the comparable
period ended 29 February 2012.

Shareholders are hereby advised that the board of directors
wishes to revise the above figures and advise that it is
reasonably certain that the revised expected increase in the
loss per share for the six months ended 28 February 2013 will
be approximately between 183% and 188% compared to the
comparable period ended 29 February 2012. The estimated
decline in headline loss per share for the six months ended 28
February 2013 remain between 25% and 30% compared to the
headline loss per share for the comparable period ended 29
February 2012.

This updated trading statement has not been reviewed or
reported on by the Company’s external auditors. The Company’s
financial results for the six months ended 28 February 2013
are expected to be published on or about 26 April 2013.

Centurion
18 April 2013

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

Date: 18/04/2013 03:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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