Datatec Limited POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION (1917O)

TIDMDTC

RNS Number : 1917O

Datatec Limited

03 November 2016

3 November 2016

Datatec Limited

("Datatec" or "the Company")

POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION OR CASH DIVIDEND ELECTION

Shareholders are referred to the Company's unaudited interim results for the six months ended 31 August 2016 published on the Regulatory News Service ("RNS") on Wednesday, 19 October 2016 in which they were advised that Datatec's board of directors had resolved to declare an interim distribution of fully-paid Datatec ordinary shares of one cent each ("the Scrip Distribution") to ordinary Shareholders ("Shareholders") recorded in the register of the Company at the close of business on, Friday, 25 November 2016 ("Record Date").

Shareholders will be entitled to elect to receive a cash dividend alternative of 60 ZAR cents per ordinary share of one cent each held on the Record Date in respect of all or part of their ordinary shareholding, instead of the Scrip Distribution ("the Cash Dividend").

The Cash Dividend will be paid only to those:

-- certificated Shareholders whose Forms of Election to receive the Cash Dividend, in respect of all or part of their shareholding, are received by the Transfer Secretaries on or before 12h00 noon (10h00 UK time) on the Record Date; and

-- dematerialised Shareholders who have instructed their CSDP or broker accordingly and in the manner and time stipulated in their agreement with such CSDP or broker.

The number of Scrip Distribution shares to which each of the Shareholders will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholders have not elected to receive the Cash Dividend) will be determined by reference to such Shareholder's ordinary shareholding in Datatec (at the close of business on the Record Date) in relation to the ratio that 60 ZAR cents bears to the volume weighted average price ("VWAP") of an ordinary Datatec share traded on the JSE during the 30-day trading period ending on Thursday, 10 November 2016.

Shareholders are advised that a circular, setting out, inter alia, the terms of the Scrip Distribution and Cash Dividend (and including a Form of Election) was posted to Shareholders today, Thursday, 3 November 2016 ("the Circular"). The Circular is also available on the Company's website, www.datatec.com or www.datatec.co.za.

The salient dates for the proposed Scrip Distribution and Cash Dividend, also contained in the Circular, are as follows:

 
 EVENT                                                     2016 
--------------------------------------  ----------------------- 
 Announcement released on RNS               Friday, 11 November 
  in respect of the ratio applicable 
  to the Scrip Distribution, 
  based on the 30-day VWAP ending 
  on Thursday, 10 November 2016, 
  by 11h00 (09h00 UK time) on 
--------------------------------------  ----------------------- 
 Announcement published in the              Monday, 14 November 
  press of the ratio applicable 
  to the Scrip Distribution, 
  based on the 30-day VWAP ending 
  on Thursday, 10 November 2016 
  on 
--------------------------------------  ----------------------- 
 Last day to trade in order                Tuesday, 22 November 
  to be eligible for the Scrip 
  Distribution and the Cash Dividend 
  alternative 
--------------------------------------  ----------------------- 
 Ordinary shares trade "ex"              Wednesday, 23 November 
  the Scrip Distribution and 
  the Cash Dividend alternative 
  on 
--------------------------------------  ----------------------- 
 Listing and trading of maximum          Wednesday, 23 November 
  possible number of ordinary 
  shares on the JSE in terms 
  of the Scrip Distribution from 
  the commencement of business 
  on 
--------------------------------------  ----------------------- 
 Announcement released on RNS             Thursday, 24 November 
  by 11h00 in respect of the 
  cash payment applicable to 
  fractional entitlements, based 
  on the VWAP on Wednesday, 23 
  November 2016, discounted by 
  10% 
--------------------------------------  ----------------------- 
 Last day to elect to receive               Friday, 25 November 
  the Cash Dividend alternative 
  instead of the Scrip Distribution, 
  Forms of Election to reach 
  the Transfer Secretaries by 
  12h00 noon (10h00 UK time) 
  on 
--------------------------------------  ----------------------- 
 Record Date in respect of the              Friday, 25 November 
  Scrip Distribution and the 
  Cash Dividend alternative 
--------------------------------------  ----------------------- 
 Scrip Distribution shares issued           Monday, 28 November 
  to Shareholders on the South 
  African register and Scrip 
  Distribution certificates posted 
  and Cash Dividend payments 
  made, CSDP/broker accounts 
  credited/updated, as applicable, 
  on 
--------------------------------------  ----------------------- 
 Cash Dividend payments made                Monday, 28 November 
  by BACS (direct credit) to 
  Shareholders on the Jersey 
  register, Scrip Distribution 
  shares and depositary interests 
  issued to Shareholders on the 
  Jersey register, CREST accounts 
  credited with the new Scrip 
  Distribution shares and depositary 
  interests, as applicable, and 
  AIM listing of ordinary shares 
  issued in respect of the Scrip 
  Distribution on 
--------------------------------------  ----------------------- 
 Announcement relating to the               Monday, 28 November 
  results of the Scrip Distribution 
  and the Cash Dividend alternative 
  released on RNS on 
--------------------------------------  ----------------------- 
 Announcement relating to the              Tuesday, 29 November 
  results of the Scrip Distribution 
  and the Cash Dividend alternative 
  published in the press on 
--------------------------------------  ----------------------- 
 JSE listing of ordinary shares          Wednesday, 30 November 
  in respect of the Scrip Distribution 
  adjusted to reflect the actual 
  number of ordinary shares issued 
  in terms of the Scrip Distribution 
  at the commencement of business 
  on or about 
--------------------------------------  ----------------------- 
 

Share certificates may not be dematerialised or rematerialised, nor may transfers between registers take place, between Wednesday, 23 November 2016 and Friday, 25 November 2016, both days inclusive.

Enquiries:

 
 Datatec Limited (www.datatec.com) 
 Jens Montanana - Chief Executive     [phone] 
  Officer                                          118 
 Ivan Dittrich - Chief Financial        [phone] 
  Officer                                         3301 
 Wilna de Villiers - Investor           [phone] 
  Relations Manager                               1013 
 
 Jefferies International Limited - Nominated 
  Adviser and Broker 
                                       [phone] 
 Nick Adams/Alex Collins                          8000 
 
 finnCap - Broker 
                                       [phone] 
 Stuart Andrews                                   0500 
 
 Instinctif Partners 
 Frederic Cornet/Pietman Roos           [phone] 
  (SA)                                            3030 
 Adrian Duffield/Chantal Woolcock      [phone] 
  (UK)                                            2020 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCVLLFBQFFBFBV

(END) Dow Jones Newswires

November 03, 2016 04:00 ET (08:00 GMT)