General repurchase of shares Datatec Limited Incorporated in the Republic of South Africa (Registration Number: 1994/005004/06) JSE share code: DTC ISIN: ZAE000017745 ("Datatec" or the "Company") GENERAL REPURCHASE OF SHARES 1. INTRODUCTION Shareholders are advised that in accordance with the general authority granted by shareholders at the Company’s annual general meeting held on Thursday, 20 September 2018 (“General Authority”), Datatec has cumulatively repurchased 7 144 307 ordinary Datatec shares in the aggregate, representing 3.002%% of the Company's issued share capital (excluding treasury shares) ("Repurchase"). 2. DETAILS OF THE REPURCHASE Details of the Repurchase are as follows: Dates of Repurchase: Thursday, 20 September 2018 to Friday, 07 December 2018 Highest repurchase price per share: R27.50 Lowest repurchase price per share: R21.81 Number of shares repurchased: 7 144 307 Total value of shares repurchased: R167 663 003 The number of shares which may still be repurchased by the Company in terms of the General Authority: 4 754 427 The percentage of shares which may still be repurchased by the Company in terms of the General Authority: 1.998% Total shares in issue before repurchase: 237 988 988 Total shares in issue after cancellation of repurchased shares: 230 844 681 Number of treasury shares (unchanged): 14 315 Application has been made to the JSE Limited for the cancellation and delisting of the repurchased shares, with effect from the commencement of business on or about 14 December 2018. 3. STATEMENT BY THE BOARD The Board has considered the effect of the Repurchase and is of the opinion that, for a period of 12 months following the date of the Repurchase: - the Company and its subsidiaries (the “group”) will be able in the ordinary course of business to pay its debts; - the assets of the Company and the group will be in excess of the liabilities of the Company and the group. For this purpose, the assets and liabilities were recognised and measured in accordance with the accounting policies used in the latest audited annual group financial statements; - the share capital and reserves of the Company and the group will be adequate for ordinary business purposes; - the working capital of the Company and the group will be adequate for ordinary business purposes; and - the Company and the group have passed the solvency and liquidity test and since the test was performed, there have been no material changes to the financial position of the group. 4. SOURCE OF FUNDS The Repurchase was funded from the Company's available cash resources. 5. FINANCIAL INFORMATION The Company’s cash balances decreased by R168.3 million as a result of the Repurchase and, on cancellation of the repurchased shares, share capital and share premium will reduce by the same amount. Interest receivable at rates of approximately 7.0 % per annum (pre-tax) will be foregone on the cash resources used to acquire the repurchased shares. The reduced number of shares in issue after cancellation of the repurchased shares will result in a lower weighted average number of shares used to calculate earnings per share in future reporting periods 6. COMPLIANCE WITH PARAGRAPH 5.72 OF THE LISTINGS REQUIREMENTS The Repurchase was effected through the order book operated by the JSE and done without any prior understanding or arrangement between the Company and the counter parties. A portion of the repurchase programme was executed during the Company’s interim results closed period. The Company had put in place a repurchase programme and submitted this to the JSE in writing prior to the commencement of the closed period. An independent third party then executed the repurchase programme, uninfluenced by the Company, during the closed period. Accordingly, the Company has complied with paragraph 5.72 of the JSE Limited Listings Requirements. Johannesburg 10 December 2018 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 10/12/2018 08:30:00 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.