Datatec Limited Cancellation of AIM listing (3767U)
2017年10月24日 - 3:00PM
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TIDMDTC
RNS Number : 3767U
Datatec Limited
24 October 2017
24 October 2017
Datatec Limited
Cancellation of AIM listing
Datatec Limited (JSE/AIM: DTC, "Datatec" or "the Group" or "the
Company"), the international Information and Communications
Technology (ICT) company, announces that the secondary listing of
its shares on the Alternative Investment Market of the London Stock
Exchange ("AIM") will cease and cancellation will be effective at
7:00am GMT on 8 December 2017.
The primary listing of Datatec shares on the Johannesburg Stock
Exchange ("JSE") will continue and is not affected by the
cancellation of the AIM listing.
Background
Datatec initiated a secondary listing of its shares on AIM in
October 2006 with the intention of providing the Group with greater
access to capital with which to support the continued growth of its
international businesses and to attract a broader range of
institutional investors.
However, the AIM listing has not had the desired effect of
diversifying Datatec's investor base. The liquidity of the shares
on AIM has been very poor and no significant investors from the UK
market have invested in Datatec shares via AIM. 24% of Datatec's
shareholders are non-South African and invest via the JSE because
of the good liquidity in the market.
Datatec has one class of shares (ordinary shares of 0.01 ZAR) of
which 211,967,622 are in issue. These shares are all listed on the
JSE and on AIM. The shares are held in two registers administered
by Computershare, the Company's Share Registrar and Transfer
Secretary. As at 31 August 2017, the Company's issued share capital
was split between the two registers as follows:
210 953
Main Register South Africa 868 99.52%
----------------- -------------- -------------------------- --------
Branch Register Jersey 1 013 754 0.48%
----------------- -------------- -------------------------- --------
211 967
Total 622 100.00%
--------------------------------- -------------------------- --------
Shares on the Main Register are primarily held in dematerialised
form in the Strate system. A small minority of shares are held in
certificated form.
Of the 0.48% of Datatec's shares held on the Jersey sub-register
the majority are held by Computershare in a custodian account and a
Depositary Interest ("DI") is in issue, one for each Datatec share.
The DIs are the instruments which are held in the UK central
securities depository, CREST. A small minority of the Jersey
Register shares are held in certificated form.
The cancellation of the AIM listing will only affect those
shareholders whose shares are currently held on the Jersey
Register. Shareholders whose shares are held on the main South
African register (i.e. 99.52% of the issued share capital)
including all shareholders holding shares via a CSDP on the Strate
depositary, will be unaffected.
Procedure for cancellation of AIM listing
AIM Regulation has confirmed that shareholder approval for the
cancellation of the AIM listing is not required because Datatec
shares will continue to be listed on the JSE which is an AIM
Designated Market.
The Jersey Branch Register and the DIs will be unwound at the
same time as the cancellation of the AIM listing.
DI holders will be sent a letter from the Transfer Secretary
giving notice that their DIs will be removed from CREST and placed
on a Jersey share certificate as ordinary shares on 8 December
2017. The letter will explain the procedures available for their
underlying shareholding in Datatec.
Procedures are already in place to transfer shares between the
Jersey and Main Register in a process called "removal". DI holders
may initiate this process at any time until Tuesday 5 December
2017.
The shares on the Jersey Register on 8 December 2017, including
those of shareholders who were previously DI holders in CREST, will
be transferred from the Computershare UK nominee account on the
Jersey register to a Computershare SA custodian account on the Main
(South Africa) Register, held in the shareholder's name.
This transfer of shares from the Jersey branch register will be
undertaken over the weekend 9/10 December 2017 so that on Monday 11
December 2017 all shares from the Jersey Register will have been
transferred to the Main Register and the Jersey Register will
close.
Shareholders whose shares have moved to the Main Register from
the Jersey Register will then have the option of having their
shareholding dematerialised into a Computershare SA CSDP account on
the Strate depositary in South Africa or to any other financial
institution via a CSDP to enable their shares to be traded on the
JSE.
Computershare will contact all DI holders and Jersey certificate
holders to advise them of the details of these procedures and
obtain their instructions. The cost of the removal process will be
borne by the Company.
Cancellation of the listing of Datatec DIs on AIM will be
effective at 0700h on Friday, 8 December 2017 and the last day to
trade before the transfer of shareholdings from Jersey to South
Africa registers described above is Tuesday, 5 December 2017.
Enquiries:
Datatec Limited (www.datatec.co.za)
Ivan Dittrich, Chief Financial +27 (0) 11 233
Officer 3301
Wilna de Villiers, Investor +27 (0) 11 233
Relations Manager 1013
Jefferies International Limited - Nominated
Adviser and Broker
+44 (0) 20 7029
Nick Adams / Simon Hardy 8000
Instinctif Partners
Frederic Cornet/Keagile Makgoba +27 (0) 11 447
(SA) 3030
Adrian Duffield/Chantal Woolcock +44 (0) 20 7457
(UK) 2077
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
This information is provided by RNS
The company news service from the London Stock Exchange
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