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Cash payment applicable to fractional entitlements in terms of the scrip distribution
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company")
CASH PAYMENT APPLICABLE TO FRACTIONAL ENTITLEMENTS IN TERMS OF THE SCRIP DISTRIBUTION
Datatec shareholders ("Shareholders") are referred to the announcement regarding the Company's
audited financial results for the year ended 29 February 2024 and declaration of a cash dividend
with a scrip distribution alternative released on the Stock Exchange News Service ("SENS") of the
JSE Limited ("JSE") on Monday, 27 May 2024, in terms of which the board of directors of the
Company notified Shareholders that it had resolved to declare a gross final cash dividend of 130
ZAR cents (" Cash Dividend") per Datatec ordinary share ("Datatec Ordinary Share") held on the
record date, being Friday, 19 July 2024 ("Record Date"). Shareholders were advised that they would
be entitled to elect to receive a scrip distribution of new, fully paid Datatec Ordinary Shares in
proportion to their ordinary shareholding in Datatec on the Record Date instead of the Cash Dividend
("Scrip Distribution" or "Scrip Distribution Alternative").
Shareholders will be entitled to receive the Cash Dividend of 130 ZAR cents per Datatec Ordinary
Share in respect of their shareholding as at the close of trading on the JSE on the Record Date, in
proportion to their ordinary shareholding in Datatec and to the extent that such Shareholders have not
elected to receive the Scrip Distribution Alternative in respect of all or a part of their shareholding.
Shareholders will, however, be entitled to elect to receive a Scrip Distribution of new, fully paid
Datatec Ordinary Shares in respect of their shareholding in Datatec as at the Record Date, in respect
of all or part of their ordinary shareholding, instead of the Cash Dividend.
The ratio applicable to the Scrip Distribution entitlement was announced on SENS on Monday, 8 July
2024, being 3.56718 Scrip Distribution shares for every 100 Datatec Ordinary Shares held on the
Record Date. If the application of this ratio 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 ordinary shares and a cash payment for the fraction ("Rounding Provision").
In accordance with the Listings Requirements of the JSE, the cash payment for the fractional
entitlement has been determined with reference to the volume weighted average price ("VWAP") of
a Datatec Ordinary Share traded on the JSE on Wednesday, 17 July 2024 (being the day on which
Datatec Ordinary Shares began trading 'ex' the entitlement to receive the Cash Dividend or the Scrip
Distribution Alternative), discounted by 10%.
Shareholders are accordingly advised that the basis applicable in determining the cash payment for
the fractional entitlement is 3244.3398 ZAR cents (the VWAP of Datatec Ordinary Shares traded on
the JSE on Wednesday, 17 July 2024 of 3604.822 ZAR cents, discounted by 10%).
Example of fractional entitlement:
This example assumes that a Shareholder holds 100 Datatec Ordinary Shares at the close of
business on the Record Date and elects to receive the Scrip Distribution shares in respect of all their
shareholding.
New ordinary share entitlement =
100 x 130 ZAR cents / (3774.33349 -130) ZAR cents
= 3.56718 Scrip Distribution Shares
The Rounding Provision described above is then applied and the Shareholder will receive:
3 Scrip Distribution shares in respect of the 100 Shares held and a cash payment of 1840.12466
ZAR cents for the fractional entitlement (calculated as follows 0.56718 x 3244.3398 = 1840.12466
ZAR cents).
This fractional entitlement payment will not be subject to Dividend Withholding Tax in terms of the
Income Tax Act 58 of 1962, as amended.
Johannesburg
18 July 2024
Sponsor
Pallidus Exchange Services Proprietary limited
Legal Advisors
Bowmans
Date: 18-07-2024 08:00:00
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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.
