To view the PDF file, sign up for a MySharenet subscription.

DATATEC LIMITED - Grant and acceptance of rights to participate in share incentive plans by executive directors and company secretary

Release Date: 05/06/2014 16:00
Code(s): DTC     PDF:  
Wrap Text
Grant and acceptance of rights to participate in share incentive plans by executive directors 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" or "the Group")    

Grant and acceptance of rights to participate in share incentive plans by executive directors and the company secretary, dealing in securities by
directors and further issue of shares

1) Grant and acceptance of rights to participate in share incentive plans
Executive directors and the Company secretary have been granted rights on 15 May 2014 to participate in
the Group's share based incentive plans as follows:

Share appreciation rights ("SARs") in respect of ordinary shares, which are subject to performance
conditions and vest after three years, at a grant price of R50.55:

Name                    Number of rights                           Nature of interest
J P Montanana           371,519 rights                             indirect beneficial
R P Evans               115,096 rights                             direct beneficial
P J Myburgh             121,068 rights                             direct beneficial
S P Morris              88,729 rights                              direct beneficial

Long term incentive plan awards ("LTIP"), which are subject to performance conditions and vest after three
years:

Name                    Number of conditional awards               Nature of interest
J P Montanana           371,519 awards                             indirect beneficial
R P Evans               86,322 awards                              direct beneficial
P J Myburgh             90,801 awards                              direct beneficial
S P Morris              66,547 awards                              direct beneficial

The face value of these awards is ZAR 50.55 per award but the value to the participant is nil until (and if)
the awards vest. On exercise of the SARs and on vesting of the LTIP awards a further announcement of the
value received by the participants will be released.

All rights and awards are subject to the rules of the respective share incentive plans, as amended and
approved by shareholders at the annual general meeting held on 14 September 2011.

Approval for the individual allocations and clearance to transact has been given.

All these individual allocations as indicated above have been accepted, off the market, by the directors and
the Company secretary respectively on 5 June 2014.

2) Purchase of pledged shares under Deferred Bonus Plan
Executive directors are entitled to purchase shares in Datatec in terms of the Datatec Limited Deferred
Bonus Plan 2005 as amended and approved by shareholders at the AGM on 14 September 2011 ("DBP").
These ordinary shares are held in trust and are pledged until the three year vesting date after which the
Company would make a matching award subject to performance conditions.

Jurgens Myburgh purchased 48,500 shares as detailed in an announcement on 23 May 2014. Jens
Montanana and Rob Evans have now purchased pledged shares under the terms of the DBP and full details
of their purchases are disclosed below in compliance with the JSE Limited ("JSE") Listings Requirements, and
the AIM Rules:

Director                       :   J P Montanana
Company                        :   Datatec
Class of security              :   Ordinary shares
Nature of transactions         :   On market purchase of shares
Date of transaction            :   4 June 2014
Number of securities           :   50,000
Purchase price                 :   ZAR 52.67 per ordinary share
Total value of securities      :   ZAR 2,633,500
Nature of interest             :   Indirect beneficial
Clearance obtained             :   Yes

After this purchase Mr Montanana holds 15,563,996 Datatec shares comprising 7.90% of the Company’s
issued share capital.

Director                       :   R P Evans
Company                        :   Datatec
Class of security              :   Ordinary shares
Nature of transactions         :   On market purchase of shares

Date of transaction (1)        :   4 June 2014
Number of securities           :   216
Purchase price                 :   ZAR 52.69 per ordinary share
Value of securities (1)        :   ZAR 11,381.04

Date of transaction (2)        :   5 June 2014
Number of securities           :   4,784
Purchase price*                :   ZAR 52.74 per ordinary share
Value of securities (2)        :   ZAR 252,308.16

Total value of securities      :   ZAR 263,689.20
Nature of interest             :   Direct beneficial
Clearance obtained             :   Yes

*The above purchase price is the average of several trades on 5 June 2014. The highest share price at
which Mr Evans traded was ZAR 52.80 and the lowest share price was ZAR 52.69.

After these purchases Mr Evans holds 29,252 Datatec shares.

3) Further Issue of Shares

In compliance with the AIM Rules, the following information is disclosed:

Datatec Limited announces the allotment of 1,000 ordinary ZAR 0.01 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 Limited for the listing of these shares. Listing on both
exchanges is expected to become effective on 6 June 2014.
Following this listing, Datatec will have an issued share capital of 197,168,735 ordinary ZAR0.01 shares of
which 153,170 are Treasury Shares held by the Datatec Share Incentive Trust 2005.

Enquiries:

Datatec Limited ( www.datatec-group.com )
Jens Montanana – Chief Executive Officer                                    +44 (0) 1753 797 118
Jurgens Myburgh – Chief Financial Officer                                    +27 (0) 11 233 3301
Wilna de Villiers – Group Marketing Manager                                  +27 (0) 11 233 1013

Jefferies International Limited – Nominated Advisor and Broker
Nick Adams/Alex Collins                                                     +44 (0) 20 7029 8000

finnCap – Broker
Tom Jenkins/Henrik Persson                                                  +44 (0) 20 7220 0500

Instinctif Partners
Adrian Duffield (UK)                                                        +44 (0) 20 7457 2020
Frederic Cornet (SA)                                                         +27 (0) 11 447 3030

5 June 2014 
 
Sponsor 
RAND MERCHANT BANK (a division of FirstRand Bank Limited) 

Date: 05/06/2014 04:00:00 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.

Share This Story