DATATEC LIMITED - Share Repurchase Programme

Share Repurchase Programme

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company")

SHARE REPURCHASE PROGRAMME

Shareholders are referred to the general repurchase authority received at
the Annual General Meeting on 31 July 2024 ("AGM"), which authorises the
Company to acquire Datatec's ordinary shares in accordance with the
Johannesburg Stock Exchange ("JSE") Listings Requirements.

Datatec announces that a Repurchase Programme will commence on 28 November
2024 in accordance with the authority received at the AGM.

The repurchase of Datatec shares will be implemented in terms of the JSE
Listing Requirements which are referenced in the 2024 Notice of AGM
(Special Resolution 3). The repurchases will be effected through an order
book operated by the JSE Limited trading system without any prior
understanding or arrangement between Datatec and the counterparties.

The Board believes that Datatec is trading at a discount to the intrinsic
value of its constituent assets and is of the view that a Repurchase
Programme will deliver longer term incremental value to shareholders.

The repurchase will be funded using the existing cash resources of the
Company.

The repurchased shares shall be cancelled in due course as issued shares
and will revert to authorised but unissued share capital status.

OPINION OF THE BOARD

The Board is of the opinion that, for a period of 12 months following the
date of this announcement:

   – Datatec and and/or entities controlled by it ("the Group") will be
      able, in the ordinary course of business, to repay their debts;
   – the consolidated assets of Datatec and the Group will be in excess of
      the consolidated liabilities of Datatec and the Group;
   – Datatec's and the Group's capital and reserves will be adequate for
      the ordinary business purposes of Datatec and the Group; and
   – Datatec and the Group will have sufficient working capital for
      ordinary business purposes.


27 November 2024

Sponsor
Pallidus Exchange Services Proprietary Limited

Date: 27-11-2024 08:00:00
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