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Datatec Limited - Posting of Circular

RNS Number : 7447Y
Datatec Limited
08 December 2017
 

8 December 2017

 

Datatec Limited

 

 

POSTING OF CIRCULAR RELATING TO A SPECIAL CASH DIVIDEND TO ORDINARY SHAREHOLDERS OF R23 PER SHARE WITH AN ELECTION TO RECEIVE NON‑RENOUNCEABLE CAPITALISATION ISSUE SHARES IN LIEU OF THE CASH DIVIDEND

 

The ordinary shareholders of the Company ("Shareholders") are referred to the announcement released by the Company on the Stock Exchange News Service ("SENS") on Wednesday, 29 November 2017, in terms of which the Company declared a special cash dividend of R23.00 per ordinary share ("Share") to Shareholders ("Cash Dividend") on the basis that -

 

·      any Shareholder is entitled, in lieu of the Cash Dividend, to elect to receive a scrip distribution of fully paid capitalisation Shares in respect of all or a part of their shareholding as at the close of business on the Record Date, being Friday, 12 January 2018 ("the Scrip Distribution"); or

 

·      if any Shareholder fails to make an election or does not make its election properly or timeously, the default position is that such Shareholder will receive (and is deemed to have elected to receive) the Cash Dividend in respect of his entire shareholding as at the close of business on the Record Date.

 

Shareholders are advised that a circular ("the Circular"), setting out, inter alia, the terms of the Cash Dividend and Scrip Distribution alternative (including a Form of Election) has been posted to Shareholders and made available on the Company's website (www.datatec.com) today, Friday, 8 December 2017.

 

Shareholders who wish to receive the Cash Dividend must not take any action, since the Cash Dividend is paid as the default position.

 

Shareholders who wish to receive the Scrip Distribution in respect of all or any of their Shares must take the following action:

 

·      certificated Shareholders must complete, sign and submit the Form of Election attached to the Circular, in respect of all or the part of their shareholding for which they wish to receive the Scrip Distribution alternative, so as to be received by the Company's transfer secretaries, Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2198 (PO Box 62053, Marshalltown, 2107), by no later than 12h00 noon on Friday, 12 January 2018; and

 

·      dematerialised Shareholders must instruct their CSDPs or brokers accordingly and in the manner and time stipulated in the custody agreements with such CSDPs or brokers.

 

The rights to receive the Scrip Distribution Shares in jurisdictions other than the Republic of South Africa may be restricted by law and any failure to comply with those restrictions may constitute a violation of the securities laws of such jurisdictions. Accordingly, Shareholders are not entitled to receive the Scrip Distribution Shares, directly or indirectly, in those jurisdictions and are deemed to have elected the Cash Dividend.

 

The salient dates for the proposed Cash Dividend and Scrip Distribution alternative, also contained in the Circular, are as follows:

 

EVENT

 

Circular and Form of Election posted to Shareholders and made available on the Company's website on

Friday, 8 December 2017

Finalisation Announcement released on SENS in respect of the ratio of entitlement applicable to the Scrip Distribution, based on the 30‑day volume weighted average price ending at the close of business on Thursday, 21 December 2017, by 11h00 on

Friday, 22 December 2017

Finalisation Announcement published in the press in respect of the ratio of entitlement applicable to the Scrip Distribution, based on the 30‑day volume weighted average price ending at the close of business on Thursday, 21 December 2017, on

Wednesday, 27 December 2017

Last day to trade in order to be eligible for the Cash Dividend and the Scrip Distribution alternative

Tuesday, 9 January 2018

Shares trade "ex" the Cash Dividend and the Scrip Distribution alternative on

Wednesday, 10 January 2018

Listing and trading of maximum possible number of Shares on the JSE in terms of the Scrip Distribution alternative from the commencement of business on

Wednesday, 10 January 2018

Announcement relating to the calculation of cash payments in respect of fractional entitlements released on SENS by 11h00 on

Thursday, 11 January 2018

Last day to elect to receive the Scrip Distribution alternative in lieu of the Cash Dividend, Forms of Election to reach the Transfer Secretaries by 12h00 noon on

Friday, 12 January 2018

Record Date in respect of the Cash Dividend and the Scrip Distribution alternative

Friday, 12 January 2018

Announcement relating to the results of the Cash Dividend and the Scrip Distribution alternative released on SENS by 11h00 on

Monday, 15 January 2018

Scrip Distribution Shares issued to Shareholders on the securities register of the Company and Scrip Distribution certificates posted, and Cash Dividend payments made, CSDP/Broker accounts credited/updated, as applicable, on

Monday, 15 January 2018

Announcement relating to the results of the Cash Dividend and the Scrip Distribution alternative published in the press on

Tuesday, 16 January 2018

JSE listing of Shares in respect of the Scrip Distribution adjusted to reflect the actual number of Shares issued in terms of the Scrip Distribution alternative at the commencement of business on or about

Wednesday, 17 January 2018

 

All times provided in this announcement are South African local times. The above dates and times are subject to change. Any change will be announced on SENS.

 

Share certificates may not be Dematerialised or Rematerialised between Wednesday, 10 January 2018 and Friday, 12 January 2018, both days inclusive.

 

Johannesburg

8 December 2017

 

Transaction Sponsor

Pallidus Capital Proprietary Limited

 

Corporate Finance Advisor

Avior Capital Markets Proprietary Limited

 

 

 

 Enquiries:

 

Datatec Limited  (www.datatec.co.za)

 

Ivan Dittrich, Chief Financial Officer

+27 (0) 11 233 3301

Wilna de Villiers, Investor Relations Manager

+27 (0) 11 233 1013

 

 

Jefferies International Limited - Nominated Adviser and Broker

Nick Adams / Simon Hardy

+44 (0) 20 7029 8000

 

 

Instinctif Partners

 

Frederic Cornet/Keagile Makgoba (SA)

+27 (0) 11 447 3030

Adrian Duffield/Chantal Woolcock (UK)

+44 (0) 20 7457 2077

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Market: AIM
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