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DTC - Datatec - Issue of Shares in Settlement of Awards under Share Schemes,

Release Date: 06/06/2012 15:00
Code(s): DTC
Wrap Text

DTC - Datatec - Issue of Shares in Settlement of Awards under Share Schemes, Dealing in Securities by a Director and Company Secretary Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC ("Datatec" or "the Company") ISSUE OF SHARES IN SETTLEMENT OF AWARDS UNDER SHARE SCHEMES, DEALING IN SECURITIES BY A DIRECTOR AND COMPANY SECRETARY 1) Settlement of awards under Long Term Incentive Plan Datatec announces that 796 055 Long Term Incentive Plan ("LTIP") awards granted in May 2009 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. Amendments to the LTIP were approved by shareholders at the annual general meeting held on 14 September 2011. The LTIP awards will be settled by delivery of 796 055 new Datatec shares to be issued on or around 7 June 2012. 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 7 June 2012. The participants receiving shares include the following director: J P Montanana : 495 496 shares Date of transaction : 7 June 2012 Class of shares : Ordinary Deemed price : R44,55 Transaction value : R22 074 346,80 Nature of interest : Indirect beneficial and the company secretary: S P Morris : 68 051 conditional awards Date of transaction : 7 June 2012 Class of shares : Ordinary Deemed price : R44,55 Transaction value : R3 031 672,05 Nature of interest : Direct beneficial 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 83 300 Datatec shares will 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 14 September 2011, 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 2009 and are consequently entitled to receive matching shares include the following director: J P Montanana : 80 000 matching shares Date of transaction : 7 June 2012 Class of shares : Ordinary Deemed price : R44,55 Transaction value : R3 564 000,00 Nature of interest : Indirect beneficial The DBP matching shares will be settled by delivery of 53 300 new Datatec shares to be issued on or around 7 June 2012. 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 7 June 2012. Approval for the individual off-market settlements and clearance to transact has been given. 3) Further issue of shares Separately, Datatec announces the allotment of 17 200 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 11 June 2012. Following the share issues set out above, the total number of shares in issue is 188 858 420 of which 173 704 are treasury shares held by the Datatec Employee Share Incentive Trust. Enquiries: Datatec Limited (www.datatec.co.za) Rob Evans - Chief Financial Officer +27 (0) 11 233 1221 Wilna de Villiers - Investor relations +27 (0) 11 233 1013 Jefferies Hoare Govett - Nominated Advisor and Broker Nick Adams/Tom Rider +44 (0) 20 7029 8000 finnCap - Broker Tom Jenkins / Henrik Persson +44 (0) 20 7220 0500 College Hill Adrian Duffield/Rozi Morris (UK) +44 (0) 20 7457 2020 Frederic Cornet (SA) +27 (0) 11 447 3030 Sandton 6 June 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 06/06/2012 15:00:01 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. 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