| Mon 21 May 2012, 17:30 | | DTC - Datatec Limited - Grant and acceptance of rights to participate in share |
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DTC
DTC
DTC - Datatec Limited - Grant and acceptance of rights to participate in share
incentive plans by executive directors and the company secretary and dealing in
securities by Directors
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Company" or "the Group")
GRANT AND ACCEPTANCE OF RIGHTS TO PARTICIPATE IN SHARE INCENTIVE PLANS BY
EXECUTIVE DIRECTORS AND THE COMPANY SECRETARY AND DEALING IN SECURITIES BY
DIRECTORS
1) GRANT AND ACCEPTANCE OF RIGHTS TO PARTICIPATE IN SHARE INCENTIVE PLANS
Executive directors and the Company secretary have been granted rights on 17 May
2012 to participate in the Group`s share based incentive plans as follows:
Share appreciation rights ("SARs") in respect of ordinary shares, which are
subject to performance conditions and vest after three years, at a grant price
of R44,55:
Name Number of rights Nature of interest
J P Montanana 333 433 rights indirect beneficial
R P Evans 97 876 rights direct beneficial
S P Morris 75 454 rights direct beneficial
Long term incentive plan awards ("LTIP"), which are subject to performance
conditions and vest after three years:
Name Number of conditional awards Nature of interest
J P Montanana 333 433 indirect beneficial
R P Evans 73 704 direct beneficial
S P Morris 56 590 direct beneficial
The face value of these awards is R44,55 per award but the value to the
participant is nil until (and if) the awards vest. On exercise of the SARs and
on vesting of the LTIP awards a further announcement of the value received by
the participants will be released.
All rights and awards are subject to the rules of the respective share incentive
plans, as amended and approved by shareholders at the annual general meeting
held on 14 September 2011.
Approval for the individual allocations and clearance to transact has been
given.
All these individual allocations as indicated above have been accepted, off the
market, by the directors and the Company secretary respectively on 18 May 2012.
2) DEALING IN SECURITIES BY DIRECTORS
Executive directors have purchased shares in Datatec in terms of the Datatec
Limited Deferred Bonus Plan 2005 as amended and approved by shareholders at the
AGM on 14 September 2011("Deferred Bonus Plan"). The ordinary shares have been
purchased in the market utilising a specified portion of their annual bonus for
the year ended 29 February 2012. These ordinary shares are held in trust and are
pledged until the three year vesting date after which the Company would make a
matching award subject to performance conditions.
Jens Montanana has purchased 90,131 shares and Rob Evans has purchased 5,000
shares. Full details of the purchases are disclosed below in compliance with
the JSE Limited ("JSE") Listings Requirements, and the AIM Rules:
Director : J P Montanana
Company : Datatec
Class of security : Ordinary shares
Nature of transactions : On market purchase of shares
Date of transaction : 17 May 2012
Number of securities : 39 344
Purchase price* : R44,9959 per ordinary share
Total value of securities : R 1 770 318,69
Nature of interest : Indirect beneficial
Clearance obtained : Yes
Date of transaction : 18 May 2012
Number of securities : 50 787
Purchase price* : R45,4258 per ordinary share
Total value of securities : R 2 307 040,10
Nature of interest : Indirect beneficial
Clearance obtained : Yes
*The above purchase prices are averages of several trades on 17 May and 18 May
2012. On 17 May the highest share price at which Mr Montanana traded was ZAR
45,00 and the lowest share price was ZAR 44,99; on 18 May the highest share
price at which Mr Montanana traded was ZAR 45,50 and the lowest share price was
ZAR 44,85.
After these purchases Mr Montanana holds 13 696 509 Datatec shares comprising
7,33% of the Company`s issued share capital.
Director : R P Evans
Company : Datatec
Class of security : Ordinary shares
Date of transaction : 18 May 2012
Nature of transaction : On market purchase of shares
Number of securities : 5 000
Purchase price : R45,00 per ordinary share
Total value of securities : R225 000,00
Nature of interest : Direct beneficial
Clearance obtained : Yes
After this purchase Mr Evans holds 5 000 Datatec shares.
21 May 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21/05/2012 17:30:01 Produced by the JSE SENS Department.
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