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DATATEC LIMITED - Acceptance of Conditional Share Plan awards by directors and the company secretary

Release Date: 22/06/2018 15:00
Code(s): DTC     PDF:  
Wrap Text
Acceptance of Conditional Share Plan awards by directors and the company secretary

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

Acceptance of Conditional Share Plan awards by directors and the company secretary

Datatec announces the following in relation to the Conditional Share Plan (“CSP”) which was approved by
shareholders at the Company’s annual general meeting held on 14 September 2017.

CSP awards have been granted to participants on 1 June 2018 following approval by the Remuneration
Committee. The awards are subject to the Rules of the CSP and will vest after three years subject to the
Group meeting certain performance conditions set by the Remuneration Committee based on underlying
earnings per share and return on invested capital targets.

Executive directors and the company secretary have accepted CSP awards granted as follows:

 Name                Number of CSP awards           Nature of interest

 J P Montanana       1 291 148                      indirect beneficial
 I P Dittrich        405 066                        direct beneficial
 S P Morris          163 782                        direct beneficial

The face value of these awards is R20.78* per award but the value to the participant is nil until (and if) the
awards vest. On exercise of the CSP awards a further announcement of the value received by the
participants will be released.

Approval for the individual allocations to the directors and the company secretary and clearance to transact
has been given and these individual allocations have been accepted, off market, on 21 June 2018.

*the 30 day volume weighted average share price on 17 May 2018, the date of the Group’s FY18 Results Announcement.


22 June 2018

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

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