Datatec Limited RESULTS OF THE SCRIP DISTRIBUTION & CASH DIVIDEND (0602F)

TIDMDTC

RNS Number : 0602F

Datatec Limited

25 July 2016

25 July 2016

Datatec Limited

RESULTS OF THE SCRIP DISTRIBUTION AND THE CASH DIVIDEND ALTERNATIVE

Datatec ordinary shareholders ("Shareholders") are referred to the announcement released on the Stock Exchange News Service of the JSE Limited on Tuesday, 12 July 2016 ("the announcement") regarding the ratio applicable to the Company's declaration of a final distribution of fully-paid Datatec ordinary shares of one cent each ("Scrip Distribution Shares") to Shareholders recorded in the register at the close of business on the Record Date, being Friday, 22 July 2016 ("Record Date").

As set out in the announcement, Shareholders not electing to receive the Cash Dividend in respect of all or part of their shareholding were entitled to receive that number of Scrip Distribution Shares determined in the ratio of 3.08390 Scrip Distribution Shares for every 100 ordinary shares held on the Record Date.

In terms of the Scrip Distribution, 1 707 331 new ordinary shares were issued today to Shareholders who did not elect to receive the Cash Dividend in respect of all or part of their shareholding, resulting in a capitalisation of the distributable retained profits of the Company of R 75 293 297. Shareholders recorded in the register of the Company at the close of business on the Record Date holding 154 079 645 ordinary shares elected to receive the gross Cash Dividend of 136 cents per ordinary share (7.23 UK pence per share for shares held on the Jersey register), resulting in a total gross Cash Dividend of R 209 548 317 which was paid out of the distributable retained profits of the Company.

Application to list these shares has been made to the JSE Limited and to the London Stock Exchange for the admission of these shares to the Alternative Investment Market. Listing on both exchanges is expected to become effective today. After the Scrip Distribution the Company has an issued share capital of 211 155 492 Ordinary shares of one cent each.

Share certificates will be dispatched to certificated Shareholders and Central Securities Depository Participant / broker accounts of dematerialised Shareholders will be credited today. Payment of the Cash Dividend will also be made today.

Enquiries:

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

This information is provided by RNS

The company news service from the London Stock Exchange

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July 25, 2016 02:00 ET (06:00 GMT)