DTC
DTC
DTC - Datatec - Voluntary Announcement: Offer to acquire Comztek Holdings
DATATEC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec")
VOLUNTARY ANNOUNCEMENT: OFFER TO ACQUIRE COMZTEK HOLDINGS
Datatec Limited, "Datatec" or the "Group", JSE and LSE: DTC), the international
Information and Communications Technology (ICT) group, has made a conditional
offer to acquire 100% of the share capital of Comztek Holdings (Pty) Ltd
("Comztek"), a South African registered company, for a total consideration of
R97 million. The consideration will be settled partly by cash and partly by the
issue of Datatec and / or subsidiary shares.
Comztek is a South African based distributor of networking, security and other
hardware and software products that are highly complementary to the activities
of the Westcon Distribution business of Datatec in South Africa. In addition,
Comztek has operations in the rest of Africa that, when combined with Westcon`s
pan-African footprint, could lead to the creation of a strategically significant
player across many African markets.
To date, management and all shareholders except for Mustek Limited (JSE: MST)
have indicated their support for the transaction. Mustek Limited holds 41.84% of
the share capital of Comztek. Datatec today has extended the acceptance date for
the offer to 30 September 2010.
The offer is conditional upon the satisfactory completion of due diligence and
of various regulatory approval processes required for a transaction of this
nature.
Sandown
2 September 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02/09/2010 16:45:01 Produced by the JSE SENS Department.
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