Datatec Limited RATIO APPLICABLE TO THE SCRIP DISTRIBUTION (9692O)

TIDMDTC

RNS Number : 9692O

Datatec Limited

11 November 2016

11 November 2016

Datatec Limited

("Datatec" or "the Company")

RATIO APPLICABLE TO THE SCRIP DISTRIBUTION

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 19 October 2016 in which it declared an interim Scrip Distribution with a Cash Dividend alternative.

A circular setting out the terms of the Scrip Distribution and Cash Dividend alternative, including a Form of Election, ("the Circular") was posted to shareholders on 3 November 2016, as announced on RNS on the same date. In addition, the Circular is available on the Company's website, www.datatec.com or www.datatec.co.za.

Shareholders are advised that the number of Scrip Distribution shares to which each Shareholder will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholder has 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 4699 ZAR cents, representing the volume weighted average price ("VWAP") of an ordinary Datatec share traded on the JSE during the 30-day trading period ended on Thursday, 10 November 2016. The ratio of Scrip Distribution shares to which each Shareholder will become entitled pursuant to the Scrip Distribution (to the extent that such Shareholder has not elected to receive the Cash Dividend) is therefore 1,27687 Scrip Distribution shares for every 100 ordinary shares held on the Record Date:

100 x 60 ZAR cents

   4699 ZAR cents        = 1,27687 

Where a Shareholder's entitlement to new Datatec ordinary shares calculated in accordance with the above formula gives rise to a fraction of a new ordinary share, such fraction of a new ordinary share will be rounded down to the nearest whole number, resulting in allocations of whole shares and a cash payment for the fraction ("Rounding Provision").

The cash payment arising from the Rounding Provision will be determined with reference to the VWAP of an ordinary Datatec share traded on the JSE on Wednesday, 23 November 2016 (being the day on which an ordinary Datatec share begins trading 'ex' the entitlement to receive the Scrip Distribution or Cash Dividend alternative), discounted by 10%. The applicable cash payment will be announced on RNS on Thursday, 24 November 2016.

Example of Scrip Distribution entitlement:

This example assumes that a Shareholder holds 1000 ordinary shares at the close of business on the Record Date and does not elect to receive the Cash Dividend in respect of all or part of their shareholding.

New ordinary share entitlement = 1000 x 1,27687%

= 12,7687 new shares

(then apply the Rounding Provision described above)

= 12 Scrip Distribution shares in respect of the 1000 ordinary shares held and a cash payment for the fraction.

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

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November 11, 2016 04:00 ET (09:00 GMT)