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DATATEC LIMITED - Posting of circular relating to scrip distribution or cash dividend election

Release Date: 19/06/2015 10:00
Code(s): DTC     PDF:  
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 audited financial
results for the year ended 28 February 2015, published on the
Stock Exchange News Service (“SENS”) on 13 May 2015 (“Results
Announcement”), in which they were advised that Datatec’s board of
directors had resolved to declare a final 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, 17 July 2015.

Shareholders will, however, be entitled to elect to receive a cash
dividend of 108 cents per ordinary share of one cent each held on
the Record Date, being Friday, 17 July 2015, 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 noon (11h00 UK time) on
           Friday, 17 July 2015; 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,
17 July 2015) in relation to the ratio that 108 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, 2 July 2015.

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) will be posted to shareholders
today, Friday, 19 June 2015 (“the Circular”). The Circular is also
available   on   the          Company’s       website,    www.datatec.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                                                               2015

Circular and Form    of   Election   posted   to         Friday, 19 June
Shareholders on

Announcement released on SENS in respect of               Friday, 3 July
the   ratio    applicable   to   the   Scrip
Distribution, based on the 30-day volume
weighted average price ending on Thursday, 2
July 2015, by 11h00 (10h00 UK time) on

Announcement published in the press of the                Monday, 6 July
ratio applicable to the Scrip Distribution,
based on the 30-day volume weighted average
price ending on Thursday, 2 July 2015 on

Last day to trade in order to be eligible                Friday, 10 July
for the Scrip Distribution and the Cash
Dividend alternative

Ordinary shares trade “ex” the Scrip                     Monday, 13 July
Distribution and the Cash Dividend
alternative on

Listing and trading of maximum possible                  Monday, 13 July
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, 17 July
Dividend alternative instead of the Scrip
Distribution, Forms of Election to reach the
Transfer Secretaries by 12h00 noon (11h00 UK
time) on

Record Date in respect of the Scrip                      Friday, 17 July
distribution and the Cash Dividend
alternative

Scrip   distribution    shares   issued   to             Monday, 20 July
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, 20 July
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, 20 July
Scrip Distribution and the Cash Dividend
alternative released on SENS on

Announcement relating to the results of the            Tuesday, 21 July
Scrip Distribution and the Cash Dividend
alternative published in the press on

JSE listing of ordinary shares in respect of         Wednesday, 22 July
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, 13 July 2015 and Friday,
17 July 2015, both days inclusive.

Sandton
19 June 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 19/06/2015 10:00:00 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.

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