Datatec Limited POSTING OF CIRCULAR RELATING TO SCRIP DISTRIBUTION (1917O)
November 03 2016 - 3:00AM
UK Regulatory
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 +44 (0) 1753 797
Officer 118
Ivan Dittrich - Chief Financial +27 (0) 11 233
Officer 3301
Wilna de Villiers - Investor +27 (0) 11 233
Relations Manager 1013
Jefferies International Limited - Nominated
Adviser and Broker
+44 (0) 20 7029
Nick Adams/Alex Collins 8000
finnCap - Broker
+44 (0) 20 7220
Stuart Andrews 0500
Instinctif Partners
Frederic Cornet/Pietman Roos +27 (0) 11 447
(SA) 3030
Adrian Duffield/Chantal Woolcock +44 (0) 20 7457
(UK) 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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