DATATEC LIMITED - Posting of circular relating to scrip distribution or cash dividend election | |
3 November 2016 10:00 | |
DTC 201611030021A Posting of circular relating to scrip distribution or cash dividend election Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC ('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 Stock Exchange News Service ('SENS') 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 SENS in respect of the ratio Friday, 11 November 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 press of the ratio applicable Monday, 14 November to the Scrip Distribution, based on the 30-day VWAP ending on Thursday, 10 November 2016 on Last day to trade in order to be eligible for the Scrip Tuesday, 22 November Distribution and the Cash Dividend alternative Ordinary shares trade 'ex' the Scrip Distribution and the Cash Wednesday, 23 November Dividend alternative on Listing and trading of maximum possible number of ordinary Wednesday, 23 November shares on the JSE in terms of the Scrip Distribution from the commencement of business on Announcement released on SENS by 11h00 in respect of the Thursday, 24 November cash payment applicable to fractional entitlements, based on the VWAP on Wednesday, 23 November 2016, discounted by 10% Last day to elect to receive the Cash Dividend alternative Friday, 25 November 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 Scrip Distribution and the Cash Friday, 25 November Dividend alternative Scrip Distribution shares issued to Shareholders on the South Monday, 28 November African register and Scrip Distribution certificates posted and Cash Dividend payments made, CSDP/broker accounts credited/updated, as applicable, on Cash Dividend payments made by BACS (direct credit) to Monday, 28 November 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 results of the Scrip Distribution Monday, 28 November and the Cash Dividend alternative released on SENS on Announcement relating to the results of the Scrip Distribution Tuesday, 29 November and the Cash Dividend alternative published in the press on JSE listing of ordinary shares in respect of the Scrip Wednesday, 30 November 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. Sandton 3 November 2016 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 03/11/2016 10:00:00 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. | |
Datatec Ltd. published this content on 03 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 November 2016 08:44:06 UTC.
Original documenthttp://irhosted.profiledata.co.za/datatec/senspopup.aspx?id=280124
Public permalinkhttp://www.publicnow.com/view/50539D3352F12C43304950D6A6A0623A94C958E3