DTC
DTC
DTC - Datatec Limited - Settlement of awards under share schemes using treasury
shares, dealing in securities by directors and further issue of shares
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company" or "the Group")
SETTLEMENT OF AWARDS UNDER SHARE SCHEMES USING TREASURY SHARES, DEALING IN
SECURITIES BY DIRECTORS AND FURTHER ISSUE OF SHARES
1) SETTLEMENT OF AWARDS UNDER LONG TERM INCENTIVE PLAN
Datatec announces that 90 281 Long Term Incentive Plan ("LTIP") awards granted
in May 2007 have vested following evaluation of the Company`s performance
against prescribed conditions in accordance with the rules of the LTIP. All
rights and rewards are subject to the rules of the LTIP as approved by
shareholders at the annual general meeting held on 16 August 2005. The
participants include the following directors:
J P Montanana 61 470 conditional awards (indirect beneficial);
I P Dittrich 6 964 conditional awards (direct beneficial); and
the company secretary:
S P Morris 10 006 conditional awards (direct beneficial).
90 281 shares were transferred to participants in the scheme, including the
above directors and the company secretary, on 17 June 2010 from the Datatec
Limited Share Incentive Trust 2005 (the "Trust") which had been holding the
shares as treasury shares.
Approval for the individual settlements and clearance to transact has been
given.
2) SETTLEMENT OF AWARDS UNDER DEFERRED BONUS PLAN
Datatec announces that 57 450 Datatec shares have been transferred to
participants in the Deferred Bonus Plan ("DBP").
Under the terms of the DBP, as approved by shareholders at the annual general
meeting held on 16 August 2005, participants may purchase Datatec
shares("pledged shares") and hold them for three years after which time the
Company will issue or transfer the same number of shares ("matching" shares) to
the participants.
The participants who purchased pledged shares in May 2007 and have consequently
received matching shares include the following director:
J P Montanana - 50 000 matching shares (indirect beneficial)
57 450 shares have been transferred to participants in the scheme, including the
above director, on 17 June 2010 from the Trust which had been holding the shares
as treasury shares. Approval for the individual settlements and clearance to
transact has been given.
3) TRANSFER OF SHARES FROM TREASURY FOR SHARE SCHEME SETTLEMENTS
Following the transfers of 90 281 shares to settle the LTIP awards and 50 450
shares to settle the DBP matching shares from the Trust as set out above, the
total number of shares held as treasury shares by the Trust is 815 463 and the
number of shares in issue excluding such treasury shares is 181 901 939.
4) FURTHER ISSUE OF SHARES
Datatec announces the allotment of 7 200 ordinary ZAR0.01 shares following the
exercise of share options. Application has been made to the London Stock
Exchange for the admission of these shares to the Alternative Investment Market,
and to the JSE for the listing of these shares. Listing on both exchanges is
expected to become effective on 24 June 2010.
Sandton
18 June 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/06/2010 15:00:01 Produced by the JSE SENS Department.
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