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ConvergeNet Shares Hit 2-Week High on Talks: Johannesburg Mover

By Mike Cohen

July 31 (Bloomberg) -- ConvergeNet Holdings Ltd., a South African provider of information technology services, rose to a two-week high after announcing it was in talks that may affect the company’s share price.

The stock rallied 12 percent to 37 cents, the highest since July 16, as of 10:45 a.m. in Johannesburg.

“Shareholders are advised that ConvergeNet has entered into negotiations which, if successfully concluded, may have a material effect on the price of the company’s securities,” the Pretoria-based company said in a stock exchange filing today. “Shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.”

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