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 results for the six months ended 31 August
2016 published on the Stock Exchange News Service (“SENS”) on Wednesday, 19 October 2016 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, Friday, 25 November
2016 (“Record Date”).
Shareholders will be entitled to elect to receive a cash dividend alternative of 60 ZAR cents per ordinary
share of one cent each held on the Record Date 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 (10h00 UK
time) on the Record Date; 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) in relation to the ratio that 60 ZAR 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, 10 November 2016.
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) was posted to Shareholders today, Thursday, 3 November 2016
(“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 2016
Announcement released on SENS in respect of the ratio Friday, 11 November
applicable to the Scrip Distribution, based on the 30-day
VWAP ending on Thursday, 10 November 2016, by 11h00
(09h00 UK time) on
Announcement published in the press of the ratio applicable Monday, 14 November
to the Scrip Distribution, based on the 30-day VWAP ending on
Thursday, 10 November 2016 on
Last day to trade in order to be eligible for the Scrip Tuesday, 22 November
Distribution and the Cash Dividend alternative
Ordinary shares trade “ex” the Scrip Distribution and the Cash Wednesday, 23 November
Dividend alternative on
Listing and trading of maximum possible number of ordinary Wednesday, 23 November
shares on the JSE in terms of the Scrip Distribution from the
commencement of business on
Announcement released on SENS by 11h00 in respect of the Thursday, 24 November
cash payment applicable to fractional entitlements, based on
the VWAP on Wednesday, 23 November 2016, discounted by
10%
Last day to elect to receive the Cash Dividend alternative Friday, 25 November
instead of the Scrip Distribution, Forms of Election to reach
the Transfer Secretaries by 12h00 noon (10h00 UK time) on
Record Date in respect of the Scrip Distribution and the Cash Friday, 25 November
Dividend alternative
Scrip Distribution shares issued to Shareholders on the South Monday, 28 November
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 credit) to Monday, 28 November
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 Scrip Distribution Monday, 28 November
and the Cash Dividend alternative released on SENS on
Announcement relating to the results of the Scrip Distribution Tuesday, 29 November
and the Cash Dividend alternative published in the press on
JSE listing of ordinary shares in respect of the Scrip Wednesday, 30 November
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
Share certificates may not be dematerialised or rematerialised, nor may transfers between registers take
place, between Wednesday, 23 November 2016 and Friday, 25 November 2016, both days inclusive.
Sandton
3 November 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 03/11/2016 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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