DTC
DTC
DTC - Datatec - Issue of Shares in Settlement of Awards under Share Schemes,
Dealing in Securities by a Director and Company Secretary
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company")
ISSUE OF SHARES IN SETTLEMENT OF AWARDS UNDER SHARE SCHEMES, DEALING IN
SECURITIES BY A DIRECTOR AND COMPANY SECRETARY
1) Settlement of awards under Long Term Incentive Plan
Datatec announces that 796 055 Long Term Incentive Plan ("LTIP") awards granted
in May 2009 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. Amendments to
the LTIP were approved by shareholders at the annual general meeting held on 14
September 2011.
The LTIP awards will be settled by delivery of 796 055 new Datatec shares to be
issued on or around 7 June 2012. 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 7 June 2012.
The participants receiving shares include the following director:
J P Montanana : 495 496 shares
Date of transaction : 7 June 2012
Class of shares : Ordinary
Deemed price : R44,55
Transaction value : R22 074 346,80
Nature of interest : Indirect beneficial
and the company secretary:
S P Morris : 68 051 conditional awards
Date of transaction : 7 June 2012
Class of shares : Ordinary
Deemed price : R44,55
Transaction value : R3 031 672,05
Nature of interest : Direct beneficial
Approval for the individual off market settlements and clearance to transact has
been given.
2) Settlement of awards under Deferred Bonus Plan
Datatec announces that 83 300 Datatec shares will 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 and amended by shareholders at the annual general
meeting held on 14 September 2011, 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 2009 and are consequently
entitled to receive matching shares include the following director:
J P Montanana : 80 000 matching shares
Date of transaction : 7 June 2012
Class of shares : Ordinary
Deemed price : R44,55
Transaction value : R3 564 000,00
Nature of interest : Indirect beneficial
The DBP matching shares will be settled by delivery of 53 300 new Datatec shares
to be issued on or around 7 June 2012. 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 7 June 2012.
Approval for the individual off-market settlements and clearance to transact has
been given.
3) Further issue of shares
Separately, Datatec announces the allotment of 17 200 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 11 June 2012.
Following the share issues set out above, the total number of shares in issue is
188 858 420 of which 173 704 are treasury shares held by the Datatec Employee
Share Incentive Trust.
Enquiries:
Datatec Limited (www.datatec.co.za)
Rob Evans - Chief Financial Officer +27 (0) 11 233 1221
Wilna de Villiers - Investor relations +27 (0) 11 233 1013
Jefferies Hoare Govett - Nominated Advisor and Broker
Nick Adams/Tom Rider +44 (0) 20 7029 8000
finnCap - Broker
Tom Jenkins / Henrik Persson +44 (0) 20 7220 0500
College Hill
Adrian Duffield/Rozi Morris (UK) +44 (0) 20 7457 2020
Frederic Cornet (SA) +27 (0) 11 447 3030
Sandton
6 June 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/06/2012 15:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |