DATATEC LIMITED - SYNNEX earn-out determined - US$ 14 million
DTC 201905290074A
SYNNEX earn-out determined - US$ 14 million
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Group")
SYNNEX EARN-OUT DETERMINED - US$ 14 MILLION
Datatec, the international Information and Communications Technology (ICT) company,
announces the result of the arbitration to determine the amount of the earn-out receivable in
relation to the disposal of Westcon Americas to SYNNEX Corporation in September 2017.
The arbitrator appointed by the parties to determine the quantum of the earn-out has ruled
that the amount of US$14 million is payable by SYNNEX to the Group.
The Board has previously stated its intention to return the SYNNEX earn-out to shareholders
and intends to make a further special dividend announcement in this regard once the cash
settlement of the earn-out has been received.
Johannesburg
29 May 2019
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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