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DTC - Datatec Limited - Settlement of awards under share schemes using treasury shares, dealing in securities by a director and further issue of shares Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC ("Datatec" or "the Company" or "the Group") SETTLEMENT OF AWARDS UNDER SHARE SCHEMES USING TREASURY SHARES, DEALING IN SECURITIES BY A DIRECTOR AND FURTHER ISSUE OF SHARES 1) SETTLEMENT OF AWARDS UNDER LONG TERM INCENTIVE PLAN Datatec announces that 300 795 Long Term Incentive Plan ("LTIP") awards granted in May 2008 have vested following evaluation of the Company`s performance against prescribed conditions in accordance with the rules of the LTIP. All rights and rewards are subject to the rules of the LTIP as approved by shareholders at the annual general meeting held on 16 August 2005 and amendments to the LTIP were approved by shareholders at the annual general meeting held on 11 August 2010. The participants include the following directors: J P Montanana : 203 182 conditional awards Deemed price : R 36,6067 Transaction value : 7 437 822,52 Nature of interest : indirect beneficial I P Dittrich : 36 229 conditional awards Deemed price : R 36,6067 Transaction value : R 1 326 224,13 Nature of interest : direct beneficial and the company secretary: S P Morris : 31 192 conditional awards Deemed price : R 36,6067 Transaction value : R 1 141 836,19 Nature of interest : direct beneficial 300 795 Datatec ordinary shares were transferred to participants in the scheme, including the above directors and the company secretary, on 19 May 2011 from the Datatec Limited Share Incentive Trust 2005 (the "Trust") which had been holding the shares as treasury shares. The deemed price of the settlement was the 30 day volume weighted share price at close on 11 May 2011 (the day prior to vesting). Approval for the individual off market settlements and clearance to transact has been given. 2) SETTLEMENT OF AWARDS UNDER DEFERRED BONUS PLAN Datatec announces that 52 500 Datatec shares have been transferred to participants in the Deferred Bonus Plan ("DBP"). Under the terms of the DBP, as approved by shareholders at the annual general meeting held on 16 August 2005 and amended by shareholders at the annual general meeting held on 11 August 2010, participants may purchase Datatec shares ("pledged shares") and hold them for three years after which time the Company will issue or transfer the same number of shares ("matching" shares") to the participants. The participants who purchased pledged shares in May 2008 and have consequently received matching shares include the following directors: J P Montanana : 50 000 matching shares Deemed price : R 36,6067 Transaction value : R 1 830 335,00 Nature of interest : indirect beneficial I P Dittrich : 2 500 matching shares Deemed price : R 36,6067 Transaction value : R 91 516,75 Nature of interest : direct beneficial 52 500 Datatec ordinary shares have been transferred to participants in the scheme, being the above directors, on 19 May 2011 from the Trust which had been holding the shares as treasury shares. The deemed price of the settlement was the 30 day volume weighted share price at close on 11 May 2011 (the day prior to vesting). Approval for the individual off-market settlements and clearance to transact has been given. 3) TRANSFER OF SHARES FROM TREASURY FOR SHARE SCHEME SETTLEMENTS Following the transfers of 300 795 shares to settle the LTIP awards and 52 500 shares to settle the DBP matching shares from the Trust as set out above, the total number of shares held as treasury shares by the Trust is 255 477 and the number of shares in issue excluding such treasury shares is 185 412 751. 4) DEALING IN SECURITIES BY A DIRECTOR Mr Dittrich has sold part of the shares he received under the share scheme settlements in (1) and (2) above in order to settle the income tax liability which crystallises on receipt of such Datatec shares. Full details of the sale are disclosed below in compliance with the JSE Limited ("JSE") Listings Requirements, and the AIM Rules: Director : I P Dittrich Company : Datatec Class of security : Ordinary shares Date of transaction : 19 May 2011 Nature of transaction : On market sale of shares Number of securities : 15 491 Transaction price : R 38,187 per ordinary share Total value of securities : R 591 554,82 Nature of interest : Direct beneficial Clearance obtained : Yes The above transaction price is the averages of several trades on 19 May 2011. On 19 May 2011 the share price high on the JSE was ZAR 38,38 and the share price low was ZAR 37,84. 5) FURTHER ISSUE OF SHARES Separately, Datatec announces the allotment of 28 600 ordinary ZAR0.01 shares following the exercise of share options. Application has been made to the London Stock Exchange for the admission of these shares to the Alternative Investment Market, and to the JSE for the listing of these shares. Listing on both exchanges is expected to become effective on 24 May 2011. Sandton 20 May 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/05/2011 15:00:02 Supplied by www.sharenet.co.za 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.
