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DATACENTRIX HOLDINGS LIMITED - CAPITAL DISTRIBUTION
Datacentrix Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1998/006413/06
JSE code: DCT
ISIN: ZAE000016051
(`Datacentrix` or `the company`)
CAPITAL DISTRIBUTION
Introduction
At the annual general meeting held on 9 June 2004, shareholders approved a cash
distribution of 6,9 cents per ordinary share in the issued share capital of the
company by way of a reduction of the company`s share premium account (`the
distribution`). The company has cash resources in excess of its needs and the
directors therefore resolved to return part of these funds to the company`s
shareholders.
Salient Dates Relative To The Distribution
* The distribution will be paid on Monday, 5 July 2004 to those shareholders
of the company who are recorded in the company`s register on Friday, 2 July
2004.
* The last day to trade (cum the distribution) in the company`s shares for
purposes of entitlement to the distribution will be Friday, 25 June 2004.
The shares will commence trading ex the distribution on Monday, 28 June
2004.
* Share certificates may not be dematerialised or rematerialised between
Monday, 28 June 2004 and Friday, 2 July 2004, both days inclusive.
Pro Forma Financial Effects Of The Distribution
The distribution will have no effect on the issued share capital of the company
or the number of shares currently in issue. The effect of the distribution is
displayed in the table below:
R`000
Current share premium 50 831
Less: Distribution (13 791)
37 040
The table below sets out the pro forma financial effects of the distribution on
the company`s tangible net asset value, net asset value, earnings and headline
earnings per share based on the audited financial results for the year ended 29
February 2004:
Before Pro forma %
the after the change
distribu distributio
tion n
(cents) (cents)
Headline earnings per share 20.7 20.4 -1.7%
(notes 1 & 3)
Diluted headline earnings per share 19.9 19.6 -1.7%
(notes 1 & 3)
Basic earnings per share 16.3 15.9 -2.1%
(notes 1 and 3)
Diluted basic earnings per share 15.7 15.3 -2.1%
(notes 1 and 3)
Tangible net asset value per share 80.7 73.7 -8.6%
(notes 2 & 4)
Net asset value per share 97.0 90.1 -7.1%
(notes 2 and 4)
Weighted average number of shares in 195 024 195 024
issue (`000)
Diluted weighted average number of 202 628 202 628
shares in issue (`000)
Notes:
1. The adjustment to the basic and diluted headline earnings and earnings per
share represents after tax interest forfeited on the cash distributed, at a
pre-tax rate of 7% per annum.
2. The adjustment to the net asset value and tangible net asset value per
share represents the cash distribution of R13,8 million (i.e. 6.9 cents per
share).
3. The basic and diluted headline earnings and earnings per share calculation
is based on the weighted average number of shares in issue.
4. The net asset value and tangible net asset value per share calculation is
based on the number of shares in issue.
Income Tax
Shareholders are advised to consult their financial advisers regarding any
taxation implications pertaining to the distribution, particularly with regard
to capital gains tax.
Pretoria
9 June 2004
Sponsor:
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
Date: 09/06/2004 02:00:13 PM Produced by the JSE SENS Department
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