Datatec - Withdrawal Of Cautionary And Change In D
DATATEC connecting minds
(Incorporated in the Republic of South Africa)
(Registration number 1994/005004/06)
JSE Share code: DTC ISIN: ZAE000017745
("Datatec")
Announcement concerning:
- withdrawal of cautionary announcement; and
- change in directors, responsibilities
Withdrawal of cautionary announcement
Rand Merchant Bank is authorised to announce that Datatec has, subsequent to
due diligence investigations, terminated discussions with Landis Group NV
("Landis") regarding the possible acquisition by Datatec's subsidiary,
Westcon Group Inc. ("Westcon"), of the networking distribution activities of
Landis. Accordingly, the cautionary announcements published on 15 January
2002 and 28 February 2002 relating to the possible acquisition, are hereby
withdrawn.
Westcon's expansion into Europe remains one of its key objectives. Westcon
intends to pursue such expansion through a combination of acquisitions and
organic growth in select European countries. This strategy has been
successfully implemented in other parts of the world.
Change in directors' responsibilities
Datatec is to appoint David Pfaff, currently an Executive Director, as Chief
Financial Officer from 1 August 2002. Pfaff will be taking over from Robin
Rindel, the current Chief Financial Officer, who is to assume operational
responsibility for Westcon's Asia Pacific operation. Rindel will remain an
executive director on the Datatec board.
In addition to his new responsibilities for Group Finance, Pfaff will
continue to be responsible for Datatec's global investor relations and
corporate communications. Pfaff joined Datatec in July 2001. He is a
chartered accountant who served his articles at Deloitte & Touche.
Sandton
22 March 2002
Sponsor and Merchant Bank
Rand Merchant Bank
A Division of FirstRand Bank Limited
Corporate Finance
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
