Wrap Text
Posting of circular relating to scrip distribution or cash dividend election
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec” or “the Company”)
POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION OR CASH
DIVIDEND ELECTION
Shareholders are referred to the Company’s unaudited interim
financial results for the six months ended 31 August 2014,
published on the Stock Exchange News Service on 15 October 2014
(“Results Announcement”), in which they were advised that
Datatec’s board of directors had resolved to declare an interim
distribution of fully-paid Datatec ordinary shares of one cent
each (“the Scrip Distribution”) to ordinary Shareholders
(“Shareholders”) recorded in the register of the Company at the
close of business on the Record Date, being Friday, 28 November
2014.
Shareholders will, however, be entitled to elect to receive a cash
dividend of 88 cents per ordinary share of one cent each held on
the Record Date, being Friday, 28 November 2014, in respect of all
or part of their ordinary shareholding, instead of the Scrip
Distribution (“the Cash Dividend”).
The Cash Dividend will be paid only to those:
- certificated Shareholders whose Forms of Election to
receive the Cash Dividend, in respect of all or part of
their shareholding, are received by the Transfer
Secretaries on or before 12h00 (10h00 UK time) on
Friday, 28 November 2014; and
- dematerialised Shareholders who have instructed their
CSDP or broker accordingly and in the manner and time
stipulated in their agreement with such CSDP or broker.
The number of Scrip Distribution shares to which each of the
Shareholders will become entitled pursuant to the Scrip
Distribution (to the extent that such Shareholders have not
elected to receive the Cash Dividend) will be determined by
reference to such Shareholder’s ordinary shareholding in Datatec
(at the close of business on the Record Date, being Friday, 28
November 2014) in relation to the ratio that 88 cents bears to the
volume weighted average price (“VWAP”) of an ordinary Datatec
share traded on the JSE during the 30-day trading period ending on
Thursday, 13 November 2014.
Shareholders are advised that a circular, setting out, inter alia,
the terms of the Scrip Distribution and Cash Dividend (and
including a Form of Election) is scheduled to be posted to
shareholders today, Friday, 31 October 2014 (“the Circular”). Due
to the ongoing postal strike, delays may be experienced in the
receipt of the Circular. Shareholders can contact Ms Merle Coskey
on 011 233 3301 to request an electronic version of the Circular.
In addition, the Circular is available on the Company’s website,
www.datatec-group.com or www.datatec.co.za.
The salient dates for the proposed Scrip Distribution and Cash
Dividend, also contained in the circular, are as follows:
EVENT 2014
Circular and Form of Election posted to Friday, 31 October
Shareholders on
Announcement released on SENS in respect of Friday, 14 November
the ratio applicable to the Scrip
Distribution, based on the 30-day volume
weighted average price ending on Thursday,
13 November 2014, by 11h00 (09h00 UK time)
on
Announcement published in the press of the Monday, 17 November
ratio applicable to the Scrip Distribution,
based on the 30-day volume weighted average
price ending on Thursday, 13 November 2014
on
Last day to trade in order to be eligible Friday, 21 November
for the Scrip Distribution and the Cash
Dividend alternative
Ordinary shares trade “ex” the Scrip Monday, 24 November
Distribution and the Cash Dividend
alternative on
Listing and trading of maximum possible Monday, 24 November
number of ordinary shares on the JSE in
terms of the Scrip distribution from the
commencement of business on
Last day to elect to receive the Cash Friday, 28 November
Dividend alternative instead of the Scrip
Distribution, Forms of Election to reach the
Transfer Secretaries by 12h00 (10h00 UK
time) on
Record Date in respect of the Scrip Friday, 28 November
distribution and the Cash Dividend
alternative
Scrip distribution shares issued to Monday, 1 December
shareholders on the South African register
and Scrip Distribution, certificates posted
and Cash Dividend payments made, CSDP/broker
accounts credited/updated, as applicable, on
Cash Dividend payments made by BACS (direct Monday, 1 December
credit) to shareholders on the Jersey
register, Scrip Distribution shares and
depositary interests issued to shareholders
on the Jersey register, CREST accounts
credited with the new Scrip Distribution
shares and depositary interests, as
applicable, and AIM listing of ordinary
shares issued in respect of the Scrip
Distribution on
Announcement relating to the results of the Monday, 1 December
Scrip Distribution and the Cash Dividend
alternative released on SENS on
Announcement relating to the results of the Tuesday, 2 December
Scrip Distribution and the Cash Dividend
alternative published in the press on
JSE listing of ordinary shares in respect of Wednesday, 3 December
the Scrip Distribution adjusted to reflect
the actual number of ordinary shares issued
in terms of the Scrip Distribution at the
commencement of business on or about
All times provided are South African local times. The above dates and times are
subject to change. Any material change will be announced on SENS.
Share certificates may not be dematerialised or rematerialised, nor may
transfers between registers take place, between Monday, 24 November 2014 and
Friday, 28 November 2014, both days inclusive.
Sandton
31 October 2014
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 31/10/2014 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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