DATATEC LIMITED - Cash payment applicable to the scrip distribution

Cash payment applicable to the scrip distribution

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company")

CASH PAYMENT APPLICABLE TO THE SCRIP DISTRIBUTION

Datatec shareholders (“Shareholders”) are referred to the announcement regarding the
Company’s audited financial results for the year ended 28 February 2022 and declaration of a
cash dividend with a scrip distribution alternative released on the Stock Exchange News Service
(“SENS”) of the JSE Limited (“JSE”) on Tuesday, 24 May 2022, in terms of which the board of
directors of the Company notified Shareholders that it had resolved to declare a gross final cash
dividend of 111 ZAR cents (“ Cash Dividend”) per Datatec ordinary share (“Datatec Share”) held
on the record date, being Friday, 15 July 2022 (“Record Date”). Shareholders were advised that
they would be entitled to elect to receive a scrip distribution of new, fully paid Datatec Shares in
proportion to their ordinary shareholding in Datatec on the Record Date instead of the Cash
Dividend (“Scrip Distribution” or “Scrip Distribution Alternative”).

Shareholders will be entitled to receive the Cash Dividend of 111 ZAR cents per Datatec Share in
respect of their shareholding as at the close of trading on the JSE on the Record Date, being
Friday, 15 July 2022, in proportion to their ordinary shareholding in Datatec and to the extent that
such Shareholders have not elected to receive the Scrip Distribution Alternative in respect of all
or a part of their shareholding.

Shareholders will, however, be entitled to elect to receive a Scrip Distribution of new, fully paid
Datatec Shares in respect of their shareholding in Datatec as at the Record Date, in respect of all
or part of their ordinary shareholding, instead of the Cash Dividend.

The ratio applicable to the Scrip Distribution entitlement was announced on SENS on Tuesday, 5
July 2022, being 3.01824 Scrip Distribution shares for every 100 Datatec Shares held on the
Record Date. If the application of this ratio gives rise to a fraction of a new ordinary share, such
fraction of a new ordinary share will be rounded down to the nearest whole number, resulting in
allocations of whole ordinary shares and a cash payment for the fraction ("Rounding
Provision").

In accordance with the Listings Requirements of the JSE Limited, the cash payment for the
fractional entitlement has been determined with reference to the volume weighted average price
(“VWAP”) of a Datatec Share traded on the JSE on Wednesday, 13 July 2022 (being the day on
which Datatec Shares began trading ‘ex' the entitlement to receive the Cash Dividend or the Scrip
Distribution Alternative), discounted by 10%.

Shareholders are accordingly advised that the basis applicable in determining the cash payment
for the fractional entitlement is 3769,2 ZAR cents (the VWAP of Datatec Shares traded on the
JSE on Wednesday, 13 July 2022 of 4188 ZAR cents, discounted by 10%).

Example of fractional entitlement:
This example assumes that a Shareholder holds 100 Datatec Shares at the close of business on
the Record Date and elects to receive the Scrip Distribution shares in respect of all their
shareholding.

New ordinary share entitlement =

100 x 111 ZAR cents / 3677.64209 ZAR cents

= 3.01824 Scrip Distribution Shares

The Rounding Provision described above is then applied and the Shareholder will receive:

3 Scrip Distribution shares in respect of the 100 Shares held and a cash payment of 68.75021
ZAR cents for the fractional entitlement (calculated as follows 0.01824 x 3769,2 = 68.75021 ZAR
cents).

This fractional entitlement payment will not be subject to Dividend Withholding Tax in terms of the
Income Tax Act 58 of 1962.

Johannesburg
14 July 2022

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

Legal Advisors
Bowmans

Date: 14-07-2022 11:23:00
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