DATATEC LIMITED - Dealings in securities by share incentive scheme by a director and by the company secretary | |
25 May 2018 11:00 | |
DTC 201805250015A Dealings in securities by share incentive scheme, by a director and by the company secretary Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC ('Datatec' or 'the Company' or 'the Group') DEALINGS IN SECURITIES BY SHARE INCENTIVE SCHEME, BY A DIRECTOR AND BY THE COMPANY SECRETARY Datatec announces the following in relation to the Share Appreciation Rights Scheme 2005 ('SAR Scheme'), the Long Term Incentive Plan ('LTIP') and the Deferred Bonus Plan ('DBP'). These share incentive schemes are subject to the rules originally approved by shareholders at the Company's annual general meeting held on 16 August 2005 and subsequently amended and approved by shareholders at the annual general meeting held on 14 September 2011. 1) SAR Scheme - May 2015 grants - outcome The Share Appreciation Rights ('SARs') and LTIP awards granted in May 2015 have vested following an evaluation of the Company's performance against prescribed conditions in accordance with the rules of the SAR Scheme. Accordingly, the SARs granted in May 2015 have vested in participants. The exercise price of the SARs, as modified for the special distribution in January 2018, is R35.79. Participants may hold their vested SARs for four years until May 2022 whereupon unexercised SARs will lapse. 2) LTIP - May 2015 grants - outcome The LTIP awards granted in May 2015 have not vested following an evaluation of the Company's performance against prescribed conditions in accordance with the rules of the LTIP. Accordingly, the LTIP awards granted in May 2015 have lapsed. 3) DBP - May 2015 grants - settlement of matching shares In relation to the May 2015 grants under the DBP, 384,479 Datatec shares have been transferred to participants in accordance with the rules of the DBP. Under the terms of the DBP, participants may purchase Datatec shares ('pledged shares') and hold them for three years ( 'performance period') after which time the Company will transfer shares ('matching shares')to the participants, subject to performance conditions being fulfilled. Three participants purchased pledged shares in May 2015 and two who remained employed throughout the three-year holding period are entitled to receive matching shares in accordance with the terms of their grant letters amounting to 150% of the number of pledged shares purchased plus additional shares in lieu of the dividends notionally accruing to the matching shares during the three-year performance period. Details of the transfer of matching shares to the participants who are, respectively, a director and the Company Secretary of Datatec are disclosed below, in compliance with the JSE Listings Requirements: Director : J P Montanana Company : Datatec Limited Class of security : Ordinary shares Nature of transaction : Off market transfer of shares from Treasury Date of transaction : 25 May 2018 Number of securities : 351,987 Deemed transfer price : R20.78* Transaction value : R7,314,290 Nature of interest : Indirect beneficial Clearance obtained : Yes Company Secretary : S P Morris Company : Datatec Limited Class of security : Ordinary shares Nature of transaction : Off market transfer of shares from Treasury Date of transaction : 25 May 2018 Number of securities : 32,492 Deemed transfer price : R20.78* Transaction value : R675,184 Nature of interest : Indirect beneficial Clearance obtained : Yes 4) Treasury share transaction In order to settle the DBP settlements in (3) above, the Datatec Share Incentive Trust 2005 (the 'Trust') transferred 384,479 Datatec shares to participants: Nature of transaction : Off market transfer of shares Class of security : Datatec ordinary shares Date of transaction : 25 May 2018 Number of Datatec shares : 384,479 Deemed transfer price : R20.78* Transaction value : R 7,989,474 Nature of interest : Direct non-beneficial Clearance obtained : Yes After this transfer from Treasury, Datatec has 242,960,000 shares in issue, of which 82,871 are Treasury shares. * the 30 day volume weighted average share price on 17 May 2018, the day of the FY18 Results Announcement. 5) Dealing in Securities by a Director Jens Montanana has sold the shares he received in (3) above: Director : J P Montanana Company : Datatec Limited Class of security : Ordinary shares Nature of transaction : Market sale of shares Date of transaction : 24 May 2018 Number of securities : 351,987 Average sale price : R 23.05 Highest price traded : R 23.60 Lowest price traded : R 22.99 Transaction value : R 8,113,300 Nature of interest : Indirect beneficial Clearance obtained : Yes 25 May 2018 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 25/05/2018 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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Datatec Ltd. published this content on 25 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 May 2018 09:27:05 UTC