DATATEC LIMITED - Cash payment applicable to the scrip distribution
25 July 2019 9:30
DTC 201907250019A
Cash payment 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 announcement released on the Stock Exchange
News Service ("SENS") on Wednesday, 3 July 2019 in which they were advised of
the Company's declaration of a gross Cash Dividend of 100 ZAR cents per ordinary
Datatec share held on the Record Date, being Friday 26 July 2019 ("Cash

Shareholders will, however, be entitled to elect to receive a scrip distribution
of new, fully-paid Datatec ordinary shares in proportion to their ordinary
shareholding in Datatec on the Record Date ("Scrip Distribution Alternative"),
instead of the Cash Dividend.

The ratio applicable to the Scrip Distribution entitlement was announced on SENS
on Tuesday, 16 July 2019, being 2.80269 Scrip Distribution shares for every 100
Datatec ordinary shares held on the Record Date. If the application of this
ratio gives rise to a fraction of a new ordinary share, such fraction of a new
ordinary share will be rounded down to the nearest whole number, resulting in
allocations of whole ordinary 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 a Datatec
ordinary share traded on the JSE on Wednesday, 24 July 2019 (being the day on
which a Datatec ordinary share began trading ‘ex' the entitlement to receive the
Cash Dividend or the Scrip Distribution Alternative), discounted by 10%.

Shareholders are accordingly advised that the basis applicable in determining
the cash payment for the fractional entitlement is 2943 ZAR cents (3270 ZAR
cents, discounted by 10%)

Example of fractional entitlement:
This example assumes that a shareholder holds 100 Datatec ordinary shares at the
close of business on the Record Date and elects to receive the Scrip
Distribution shares in respect of all their shareholding.

New ordinary share entitlement = 100 x 2.80269%
= 2.80269 new ordinary shares. The Rounding Provision described above is then
applied and the shareholder will receive:
2 Scrip Distribution shares in respect of the 100 ordinary shares held and a
cash payment for the fractional entitlement of 0.80269 x 2943 = 2362 ZAR cents.

Thursday, 25 July 2019

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 25/07/2019 09:30:00
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