Further Cautionary Announcement And Change to boar
Datatec Limited - Westcon Ipo Filing, Further Cautionary Announcement And Change
Release Date: 03/03/2004 13:19:56 Code(s): DTC
DATATEC LIMITED - Westcon IPO filing, further cautionary announcement and change
to the board of directors
DATATEC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1994/005004/06)
(Share code: DTC)
(ISIN: ZAE000017745)
("Datatec" or "the Company")
Westcon IPO filing, further cautionary announcement and change to the board of
directors
Shareholders are referred to the cautionary announcement dated 13 January 2004
and advised that Datatec today announced that its subsidiary, Westcon Group,
Inc. ("Westcon"), has filed a registration statement with the United States
Securities and Exchange Commission for an initial public offering of Westcon"s
common stock (the "S1 filing"). This is a preliminary filing that is required to
start the process of an initial public offering in the United States.
The S-1 filing relating to the common stock has been filed with the Securities
and Exchange Commission but has not yet become effective. These securities may
not be sold nor may offers to buy these securities be accepted prior to the time
the registration statement becomes effective. This announcement shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
Copies of the S-1 filing can be obtained directly from www.sec.gov.
Further Cautionary
As a result, shareholders are advised to continue to exercise caution in their
dealings in the company"s securities until further details are provided.
Changes to the board of directors
In compliance with rule 3.59 of the JSE Listings Requirements, the following
information is disclosed:
With reference to the preliminary filing disclosed above, and in anticipation of
the proposed initial public offering of common stock of Westcon in the United
States, John McCartney and Alan Marc Smith have resigned as directors of Datatec
Limited with with immediate effect.
The resignations will ensure a more independent Westcon board with John
McCartney retaining his role as non-executive chairman of Westcon and Alan Marc
Smith continuing as president and CEO of Westcon. Additional independent non-
executive directors are expected to be appointed to the Westcon board.
Woodmead
3 March 2004
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
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