Datatec Limited Share incentive schemes and dealing in securities (0383J)
23 June 2017 - 11:00PM
UK Regulatory
TIDMDTC
RNS Number : 0383J
Datatec Limited
23 June 2017
23 June 2017
Datatec Limited
Share incentive schemes and dealing in securities by a
director
Datatec Limited ("Datatec" or the "Company", JSE and LSE: DTC),
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 and LTIP - May 2014 grants - outcome
The Share Appreciation Rights ("SARs") and LTIP awards granted
in May 2014 have not vested following an evaluation of the
Company's performance against prescribed conditions in accordance
with the rules of the SAR Scheme and LTIP. Accordingly, the SARs
and LTIP awards granted in May 2014 have lapsed.
2) DBP - May 2014 grants - settlement of matching shares
In relation to the May 2014 grants under the DBP, 56,753 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 2014 and are
entitled to receive matching shares in accordance with the terms of
their grant letters amounting to 50% 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. Full details of the transfer of matching shares
to the participant who is currently a Director of Datatec are
disclosed below, in compliance with the JSE Limited ("JSE")
Listings Requirements, and the AIM Rules:
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 : 22 June 2017
Number of securities : 27,903
Deemed transfer price : ZAR 57.50*
Transaction value : ZAR 1,604,422.50
Nature of interest : Indirect beneficial
Clearance obtained : Yes
Following this transaction Mr Montanana will hold 15,197,844
Datatec shares, representing 7.17% of the Company's issued share
capital.
3) Treasury share transaction
In order to settle the DBP settlements in (2) above, the Datatec
Share Incentive Trust 2005 (the "Trust") transferred 56,753 Datatec
shares to participants:
Nature of transaction : Off market transfer of shares
Class of security : Datatec ordinary shares
Date of transaction : 22 June 2017
Number of Datatec
shares : 56,753
Deemed transfer : ZAR 57.50*
price
Transaction value : ZAR 3,263,297.50
Clearance obtained : Yes
After this transfer from Treasury, Datatec has 211,967,622
shares in issue, of which 43,247 are Treasury shares.
* the 30 day volume weighted average share price on 22 May 2017,
the day of the FY17 Results Announcement.
Enquiries:
Datatec Limited (www.datatec.com)
Jens Montanana - Chief Executive
Officer +44 (0) 1753 797 118
Ivan Dittrich - Chief Financial
Officer +27 (0) 11 233 3301
Wilna de Villiers - Group Investor
Relations Manager +27 (0) 11 233 1013
Jefferies International Limited - Nominated Advisor and
Broker
Nick Adams/Simon Hardy +44 (0) 20 7029 8000
finnCap - Broker
Andrew Stewart +44 (0) 20 7220 0500
Instinctif Partners
Adrian Duffield/Chantal Woolcock
(UK) + 44 (0) 20 7457 2020
Frederic Cornet/Pietman Roos (SA) +27 (0) 11 447 3030
22 June 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFELRFIVFID
(END) Dow Jones Newswires
June 23, 2017 09:00 ET (13:00 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