DATATEC LIMITED - Acceptance of Conditional Share Plan awards by directors and the company secretary | |
22 June 2018 15:00 | |
DTC 201806220033A Acceptance of Conditional Share Plan awards by directors and the company secretary 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') Acceptance of Conditional Share Plan awards by directors and the company secretary Datatec announces the following in relation to the Conditional Share Plan ('CSP') which was approved by shareholders at the Company's annual general meeting held on 14 September 2017. CSP awards have been granted to participants on 1 June 2018 following approval by the Remuneration Committee. The awards are subject to the Rules of the CSP and will vest after three years subject to the Group meeting certain performance conditions set by the Remuneration Committee based on underlying earnings per share and return on invested capital targets. Executive directors and the company secretary have accepted CSP awards granted as follows: Name Number of CSP awards Nature of interest J P Montanana 1 291 148 indirect beneficial I P Dittrich 405 066 direct beneficial S P Morris 163 782 direct beneficial The face value of these awards is R20.78* per award but the value to the participant is nil until (and if) the awards vest. On exercise of the CSP awards a further announcement of the value received by the participants will be released. Approval for the individual allocations to the directors and the company secretary and clearance to transact has been given and these individual allocations have been accepted, off market, on 21 June 2018. *the 30 day volume weighted average share price on 17 May 2018, the date of the Group's FY18 Results Announcement. 22 June 2018 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 22/06/2018 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS. | |
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Datatec Ltd. published this content on 22 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 June 2018 13:27:06 UTC