DTC
DTC
DTC - Datatec Limited - Voluntary Announcement: Increased Offer to Acquire
Comztek Holdings
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
VOLUNTARY ANNOUNCEMENT: INCREASED OFFER TO ACQUIRE COMZTEK HOLDINGS
Datatec Limited, "Datatec" or the "Group", (JSE and LSE: DTC), the international
Information and Communications Technology (ICT) group, announced on 2 September
2010 that it had 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. 41.84% of Comztek is owned by Mustek
Limited (JSE: MST, "Mustek").
Datatec has satisfactorily completed the due diligence process in relation to
this conditional offer and has increased its offer to R101 million. The
consideration will be settled partly in cash and partly by the issue of Datatec
and/or subsidiary shares.
The offer is now subject only to contract, governmental, regulatory and
commercial approvals and is conditional upon Mustek continuing to provide
support to Comztek in the form of parent company guarantees, consistent with
past practice, until the completion of the transaction.
The offer remains open until Monday 18 October 2010.
Enquiries:
Datatec Limited (www.datatec.co.za)
Ivan Dittrich - Chief Financial Officer +27 (0) 11 233 1221
Wilna de Villiers - Group Marketing +27 (0) 11 233 1013
Manager
Jefferies International Limited
Chris Snoxall +44 (0) 20 7029 8000
College Hill
Adrian Duffield/Jon Davies (UK) +44 (0) 20 7457 2020
Frederic Cornet (SA) +27 (0) 11 447 3030
12 October 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 12/10/2010 17:00:01 Produced by the JSE SENS Department.
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