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DATATEC LIMITED - Results of the special cash dividend and the scrip distribution alternative

Release Date: 29/11/2021 11:00
Code(s): DTC     PDF:  
Wrap Text
Results of the special cash dividend and the scrip distribution alternative

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


RESULTS OF THE SPECIAL CASH DIVIDEND AND THE SCRIP DISTRIBUTION
ALTERNATIVE


Datatec shareholders ("Shareholders") are referred to the announcement regarding the
Company’s interim financial results for the 6-month period ended 31 August 2021 and declaration
of a special cash dividend with a scrip distribution alternative released on the Stock Exchange
News Service ("SENS") of the JSE Limited ("JSE") on Thursday, 28 October 2021, in terms of
which the board of directors of the Company notified Shareholders that it had resolved to return
an amount of approximately US$70 million to Shareholders by declaring a gross special cash
dividend of 512 ZAR cents ("Special Cash Dividend") per Datatec ordinary share ("Datatec
Share") held on the record date, being Friday, 26 November 2021 (“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 Special Cash Dividend ("Scrip Distribution" or "Scrip Distribution Alternative").

Shareholders were entitled to receive the Special Cash Dividend of 512 ZAR cents per ordinary
Datatec Share in respect of their shareholding as at the close of trading on the JSE on the
Record Date, being Friday, 26 November 2021, in proportion to their ordinary shareholding in
Datatec and to the extent that such Shareholders had not elected to receive the Scrip Distribution
Alternative in respect of all or a part of their shareholding.

Shareholders were entitled to elect to receive that number of Scrip Distribution shares determined
in the ratio of 12.90431 Scrip Distribution shares for every 100 ordinary shares held on the
Record Date, instead of the Special Cash Dividend.

Shareholders recorded in the register of the Company at the close of business on the Record
Date holding 96,393,716 Datatec Shares did not elect to receive the Scrip Distribution Alternative
and will therefore receive the gross Special Cash Dividend of 512 ZAR cents per Datatec Share
(where applicable, 409.6 ZAR cents per Datatec Share, net of applicable Dividend Withholding
Tax) resulting in a total gross Special Cash Dividend of ZAR 493,535,825.92 which was paid out
of the distributable retained profits of the Company.

In terms of the Scrip Distribution Alternative, 13,779,770 new Datatec Shares were issued today
to Shareholders who elected to receive the Scrip Distribution shares in respect of all or part of
their shareholding, resulting in a capitalisation of distributable retained profits of the Company of
ZAR 546,735,464.

The Special Cash Dividend payments were made, and Central Securities Depository
Participant/broker accounts of dematerialised Shareholders and certificated Shareholders were
credited today. No share certificates were dispatched to certificated shareholders in respect of the
Scrip Distribution.

Johannesburg
29 November 2021

Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Legal Advisors
Bowmans

Date: 29-11-2021 11:00:00
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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