DATATEC LIMITED - Cash fraction applicable to the scrip distribution
24 November 2016 12:22
DTC 201611240033A
Cash fraction 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")


Shareholders are referred to the Company’s unaudited interim
financial results for the six months ended 31 August 2016,
released on the Stock Exchange News Service (“SENS”) on 19 October
2016, in which they were advised that Datatec’s board of directors
had resolved to declare an interim Scrip Distribution of ordinary
Datatec shares, with the alternative to elect to receive a Cash
Dividend of 60 cents per ordinary Datatec share.

The ratio applicable to the Scrip Distribution entitlement was
announced on SENS on 11 November 2016, being 1.27687 Scrip
Distribution shares for every 100 ordinary Datatec shares held on
the Record Date, being Friday, 25 November 2016.

If the application of this ratio gives rise to a fraction of an
ordinary Datatec share, such fraction of a new ordinary Datatec
share will be rounded down to the nearest whole number, resulting
in allocations of whole ordinary Datatec shares and a cash payment
for the fraction (“Rounding Provision”).

In accordance with the requirements of the JSE Limited, the cash
payment has been determined with reference to the volume weighted
average price of an ordinary Datatec share traded on the JSE on
Wednesday, 23 November 2016 (being the day on which an ordinary
Datatec share began trading ‘ex’ the entitlement to receive the
Scrip Distribution or Cash Dividend alternative), discounted by

Shareholders are accordingly advised that the basis applicable in
determining the cash payment for the fractional entitlement is
4222 cents.

Example of fractional entitlement:
This example assumes that a Shareholder holds 100 ordinary shares
at the close of business on the Record Date and does not elect to
receive the Cash Dividend in respect of all or part of their

New ordinary share entitlement = 100 x 1.27687 %
= 1.27687 new ordinary shares. The Rounding Provision described
above is then applied and the shareholder will receive:
1 Scrip Distribution share in respect of the 100 ordinary shares
held and a cash payment for the fractional entitlement based on
the 4222 cents noted above of 0.27687 x 4222 = 1169 cents.

This fractional entitlement payment will be subject to 15%
dividend withholding tax, resulting in a net cash payment of
993.65 cents.

24 November 2016

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 24/11/2016 12:22:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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