DTC 201907170006A
General repurchase of shares voluntary announcement

Datatec Limited
Incorporated in the Republic of South Africa
(Registration Number: 1994/005004/06)
JSE share code: DTC
ISIN: ZAE000017745
("Datatec" or the "Company")

GENERAL REPURCHASE OF SHARES VOLUNTARY ANNOUNCEMENT

1.    INTRODUCTION
      Shareholders are advised that, in accordance with the general authority granted by
      shareholders at the Company's general meeting held on Wednesday, 26 June 2019
      ("General Authority"), Datatec has cumulatively repurchased 1 697 160 ordinary shares
      ("Shares") in the aggregate, representing 0.79% of the Company's issued share capital
      (excluding treasury Shares) ("Repurchase"). Following the Repurchase, the extent of the
      General Authority outstanding is 9 010 340 Shares, representing 4.21% of the total issued
      share capital of the Company, at the time the General Authority was granted.

2.    DETAILS OF THE REPURCHASE
      Details of the Repurchase are as follows:

      Dates of Repurchase:                                     Friday, 28 June 2019
                                                               to Monday, 15 July 2019
      Highest repurchase price per Share:                      R36.50
      Lowest repurchase price per Share:                       R34.51
      Number of Shares repurchased:                            1 697 160
      Total value of Shares repurchased:                       R59 348 866

      Total Shares in issue before the Repurchase:             214 800 000
      Total Shares in issue after cancellation of
      repurchased shares:                                      213 102 840
      Number of treasury shares (unchanged):                   650 000

      The Shares which have been repurchased will be cancelled and delisted on or about 19
      July 2019.

3.    STATEMENT BY THE BOARD

      The Board has considered the effect of the Repurchase and is of the opinion that, for a
      period of 12 months following the date of the Repurchase:

      -   the Company and its subsidiaries (the "group") will be able in the ordinary course of
          business to pay its debts;
      -   the assets of the Company and the group will be in excess of the liabilities of the
          Company and the group. For this purpose, the assets and liabilities were recognised
          and measured in accordance with the accounting policies used in the latest audited
          annual group financial statements;
      -   the share capital and reserves of the Company and the group will be adequate for
          ordinary business purposes;
      -   the working capital of the Company and the group will be adequate for ordinary
          business purposes; and
      -   the Company and the group have passed the solvency and liquidity test and since the
          test was performed, there have been no material changes to the financial position of
          the group.

4.    SOURCE OF FUNDS
      The Repurchase was funded from the Company's available cash resources.

5.    FINANCIAL INFORMATION

      The Company's cash balances decreased by R59.6 million as a result of the Repurchase
      and, on cancellation of the Repurchase Shares, share capital and share premium will
      reduce by the same amount.

      Interest receivable at rates of approximately 7.0 % per annum (pre-tax) will be foregone on
      the cash resources used to acquire the Repurchased Shares.

      The reduced number of Shares in issue after cancellation of the Repurchased Shares will
      result in a lower weighted average number of shares used to calculate earnings per share
      in future reporting periods.

6.    COMPLIANCE WITH PARAGRAPH 5.72 OF THE LISTINGS REQUIREMENTS

      The Repurchase was effected through the order book operated by the JSE and done
      without any prior understanding or arrangement between the Company and the counter
      parties. The Repurchase was not effected during any prohibited period.

      Accordingly, the Company has complied with paragraph 5.72(a) of the Listings
      Requirements of the JSE Limited.


Johannesburg
17 July 2019

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 17/07/2019 08:00:00
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