EOH HOLDINGS LIMITED - Voluntary Announcement - EOH Acquires 100% of the Cornastone Group of Companies

Voluntary Announcement - EOH Acquires 100% of the Cornastone Group of Companies

EOH HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/014669/06)
Share code: EOH ISIN: ZAE000071072
(“EOH”)


VOLUNTARY ANNOUNCEMENT - EOH ACQUIRES 100% OF THE CORNASTONE GROUP OF COMPANIES


EOH announces the acquisition of 100% of the Cornastone Group of Companies, subject to
regulatory approval.

Cornastone’s diverse business offerings include:

-   providing niche support services to telecommunications network operators in the areas
    of call centre operations, billing operations, revenue assurance and operational data
    analysis;
-   providing Application Managed Services (AMS) to their customers ensuring high
    availability services and business continuity; and
-   providing unique revenue management and revenue protection solutions to Public Sector
    Customers using their advanced billing systems and big data insights.

Cornastone has been in business for over 15 years with an annual turnover in excess of R300
million, has 280 people and over 100 enterprise customers across a variety of
industries. Lufuno Nevhutalu, CEO of Cornastone, believes that in joining EOH, Cornastone
brings a wealth of knowledge and experience both in the private and public sectors.
“Cornastone’s technology, know-how and experience, combined with EOH’s existing
customer base will ensure that we are able to add incredible value to both our combined
customer base”, says Nevhutalu.

“EOH is very excited to have Cornastone join our organisation. Cornastone is a recognised
leader in its field, has an extremely strong management team and a skilled employee
base. Lufuno has an impeccable reputation in the ICT market and the use of his skills in his
social entrepreneurship endeavours are admirable. The Cornastone basket of offerings
enhances EOH’s existing service offerings and improves EOH’s capability in the market
place”, says Asher Bohbot, Group CEO of EOH.

“The cultural fit, shared value systems and entrepreneurial spirit made EOH a natural home
for our business and people”, says Nevhutalu. “Joining the broader EOH platform enables
Cornastone to reach many more customers, expand geographically and enhance its delivery
capacity. The partnership creates new opportunities for professional growth for our staff, and
as an executive team, we are all fired up to unlock the synergies between the businesses”,
concludes Nevhutalu.

Due to its relative size, the acquisition falls below the threshold of a categorised transaction in
terms of the Listings Requirements of the JSE Limited and its announcement is therefore
voluntary.


About EOH

EOH is the largest technology and knowledge services provider in South Africa and provides
the technology, knowledge, skills and organisational ability critical to the development and
growth of the markets it serves. EOH’s 12 000 staff members deliver end-to-end enterprise
applications solutions and a wide range of Outsourcing, Cloud, Managed Services and
Business service offerings to customers across all major industries. EOH has been listed on
the JSE since 1998.
For more information visit: www.eoh.co.za


Johannesburg
3 February 2017

Sponsor
Merchantec Capital

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