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Ratio Applicable to 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")
RATIO APPLICABLE TO THE SCRIP DISTRIBUTION
Datatec shareholders (the "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 of the
JSE Limited ("SENS") 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").
A circular setting out the terms of the Cash Dividend and the Scrip Distribution Alternative, including
a Form of Election to elect to receive the Scrip Distribution Alternative, was distributed to
Shareholders on Wednesday, 5 June 2024 ("Circular").
The number of Scrip Distribution shares to which each Shareholder will become entitled pursuant to
the Scrip Distribution (subject to their election thereto) will be determined by reference to such
Shareholder's ordinary shareholding in Datatec (at the close of trade on the JSE on the Record
Date) in relation to the ratio that 130 ZAR cents bears to the volume weighted average price
("VWAP") of a Datatec Ordinary Share traded on the JSE during the 30-day trading period ending
on Friday, 5 July 2024 "ex" the Cash Dividend, provided that, where the application of this ratio gives
rise to a fraction of a Datatec Ordinary Share, the rounding principles will be applied. The 30-day
VWAP "ex" the Cash Dividend at close of trading on the securities exchange operated by the JSE
Limited on Friday, 5 July 2024 was 3644.33349 ZAR cents per share (being 3774.33349 ZAR cents
minus 130 ZAR cents). The ratio of Scrip Distribution shares to which each Shareholder will become
entitled pursuant to the Scrip Distribution Alternative (to the extent that such Shareholder elects to
receive the Scrip Distribution shares) is therefore 3.56718 Scrip Distribution shares for every 100
Datatec Ordinary Shares held on the Record Date.
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 Datatec Ordinary Share, such fraction of a new
a Datatec 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"). The
applicable cash payment will be determined with reference to the VWAP of a Datatec Ordinary Share
traded on the JSE on Wednesday, 17 July 2024, (being the day on which Datatec Ordinary Shares
begin trading "ex" the entitlement to receive the Cash Dividend or the Scrip Distribution Alternative),
discounted by 10%. Details of the cash payment will be announced on SENS on Thursday, 18 July
2024. Shareholders are referred to paragraph 3.4 of the Circular in which it is stated that the Scrip
Distribution Alternative and cash paid for a fraction of a Datatec Ordinary Share will not be subject
to Dividend Withholding Tax in terms of the Income Tax Act 58 of 1962.
Example of Scrip Distribution 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 (then apply the Rounding Provision described above)
= 3 Scrip Distribution shares in respect of the 100 Datatec Ordinary Shares held plus the
applicable cash payment to be determined as described above.
Johannesburg
8 July 2024
Sponsor
Pallidus Exchange Services Proprietary limited
Legal Advisors
Bowmans
Date: 08-07-2024 08:26:00
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