Datatec Limited RATIO APPLICABLE TO THE SCRIP DISTRIBUTION (9692O)
11 November 2016 - 8:00PM
UK Regulatory
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 +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
MSCDMMMMRMNGVZG
(END) Dow Jones Newswires
November 11, 2016 04:00 ET (09:00 GMT)
Datatec (LSE:DTC)
Historical Stock Chart
From Apr 2024 to May 2024
Datatec (LSE:DTC)
Historical Stock Chart
From May 2023 to May 2024