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Results of the Scrip Distribution and the Cash Dividend alternative
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec” or “the Company”)
RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND
ALTERNATIVE
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 of the Company’s
declaration of the 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 (“the Record Date”).
As set out in the announcement, Shareholders not electing to
receive the Cash Dividend in respect of all or part of their
shareholding were entitled to receive that number of Scrip
Distribution Shares determined in the ratio of 1.62382 Scrip
Distribution Shares for every 100 ordinary shares held on the
Record Date. Where a Shareholder’s entitlement to Scrip
Distribution Shares, calculated in accordance with the above
ratio, gave rise to a fraction of a new ordinary share, such
fraction of a new ordinary share was rounded up to the nearest
whole number where the fraction was greater than or equal to
0,5 and rounded down to the nearest whole number where the
fraction was less than 0,5.
In terms of the Scrip Distribution, 1 689 556 new ordinary
shares were issued today to Shareholders who did not elect to
receive the Cash Dividend in respect of all or part of their
shareholding, resulting in a capitalisation of the
distributable retained profits of the Company of
R 112 214 199. Shareholders recorded in the register of the
Company at the close of business on the Record Date holding
99 566 360 ordinary shares elected to receive the gross Cash
Dividend of 108 ZAR cents per ordinary share, resulting in a
total gross Cash Dividend of R 107 531 669, which was paid out
of the distributable retained profits of the Company.
After the Scrip Distribution the Company has an issued share
capital of 205,304,200 Ordinary shares of ZAR 0.01 each.
Share certificates, where applicable, were dispatched to
certificated Shareholders at their own risk. The Cash Dividend
payments were made/Central Securities Depository
Participant/broker accounts of dematerialised Shareholders
were credited, today.
Sandton
20 July 2015
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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