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Results of the special cash dividend of R23 per share to ordinary shareholders with a share election
Datatec Limited
Incorporated in the Republic of South Africa
(Registration Number: 1994/005004/06)
JSE share code: DTC
ISIN: ZAE000017745
("Datatec" or the "Company", JSE: DTC)
RESULTS OF THE SPECIAL CASH DIVIDEND OF R23 PER SHARE TO ORDINARY
SHAREHOLDERS WITH AN ELECTION TO RECEIVE NON-RENOUNCEABLE CAPITALISATION
ISSUE SHARES IN LIEU OF THE CASH DIVIDEND
The ordinary shareholders of the Company ("Shareholders") are referred to the announcements
released by the Company on the Stock Exchange News Service (“SENS”) on, inter alia, Wednesday,
29 November 2017, and Friday, 8 December 2017, in terms of which the Company declared a special
cash dividend of R23,00 per ordinary share ("Share") to Shareholders ("Cash Dividend") on the basis
that -
1. any Shareholder is entitled, in lieu of the Cash Dividend, to elect to receive a scrip
distribution of fully paid capitalisation Shares in respect of all or a part of their shareholding
as at the close of business on the Record Date, being Friday, 12 January 2018 ("the Scrip
Distribution"); or
2. if any Shareholder fails to make an election or does not make its election properly or
timeously, the default position is that such Shareholder will receive (and is deemed to have
elected to receive) the Cash Dividend in respect of his entire shareholding as at the close of
business on the Record Date.
The ratio applicable to the Scrip Distribution entitlement was announced on SENS on Friday, 22
December 2017 and Tuesday, 2 January 2018, being 67.19252 capitalisation Shares per 100 Shares
held by each Shareholder at the close of business on the Record Date.
Where a Shareholder’s entitlement to ordinary shares in Datatec pursuant to the Scrip Distribution,
calculated in accordance with the above ratio of entitlement, gave rise to a fraction of a new Share,
such fraction of a Share was rounded down to the nearest whole number, resulting in allocations of
whole Shares and a cash payment for the fraction. The applicable cash payment was determined with
reference to the volume-weighted average price ("VWAP") of a Share traded on the JSE on
Wednesday, 10 January 2018 (being the day on which the Share began trading 'ex' the entitlement to
receive the Cash Dividend or the Scrip Distribution alternative), discounted by 10%. The applicable
cash payment was announced on SENS on Thursday, 11 January 2018.
The offer to receive the Scrip Distribution of fully-paid capitalisation Shares, in respect of all or a part
of their shareholding on the Record Date of Friday, 12 January 2018, closed at the close of business
on that date. Elections to receive 67.19252 Scrip Distribution Shares per 100 Shares held by each
Shareholder were made in respect of 65,141,360 Shares, being 30,73% of the issued share capital of
the Company as at Thursday, 30 November 2017 (“Last Practicable Date”). Accordingly, 43,770,095
new Shares in the Company have been issued today in settlement of the Scrip Distribution alternative,
being 20,65% of the issued share capital of the Company as at the Last Practicable Date. An
adjustment to the maximum number of Shares listed in respect of the Scrip Distribution will be made
on or about Wednesday, 17 January 2018.
A total cash dividend of R3,377,004,026 has been paid to Shareholders who retained the default Cash
Dividend, being 69,27% of the issued share capital of the Company as at the Last Practicable Date.
Share certificates, where applicable, were despatched to certificated Shareholders at their own risk,
and the Cash Dividend payments were made/Central Securities Depository Participant/broker
accounts of dematerialised Shareholders were credited, today.
In respect of payments made to Shareholders, Shareholders should note that, in accordance with the
memorandum of incorporation of the Company, all such payments will be made by way of electronic
funds transfer and no cheque payments will be made. Accordingly, Shareholders who have not yet
provided their banking details to Computershare Investor Services (Pty) Ltd. (“Computershare”)
(especially Shareholders who were transferred to the South African register pursuant to the
cancellation of the Company’s listing on the Alternative Investment Market of the London Stock
Exchange on Friday, 8 December 2017) are encouraged to provide their banking details to
Computershare (+27 11 370 5000 / dividendsclientliason@computershare.co.za) as soon as possible,
in order for their details to be updated and payments to be made.
Johannesburg
15 January 2018
Transaction Sponsor
Pallidus Capital Proprietary Limited
Corporate Finance Advisor
Avior Capital Markets Proprietary Limited
Date: 15/01/2018 12:24:00 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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