Windfall for Datatec shareholders

Datatec, the JSE-listed technology investment holding company led by Jens Montanana, has announced it will pay a special dividend to shareholders of £135.1-million (R2.7-billion) stemming from its sale of Analysys Mason.

The dividend will be paid to Datatec shareholders on 2 December, with all transaction-related costs to be absorbed by the company to “maximise the distribution to shareholders”, it said on Tuesday.

The distribution amounts to R12.50 per Datatec share.

Shareholders also have option to elect to receive new, fully paid ordinary shares in Datatec as an alternative to the special cash dividend. The new shares will not be subject to dividend withholding tax.

Meanwhile, Datatec said its interim results – for the six months to end-August 2022 – will show a decline in headline earnings per share of between 20.6% and 36.5% compared to the same period in 2021.

“As indicated in the annual results for the year ended 28 February 2022 released on 24 May 2022, headwinds resulting from semiconductor shortages, compounded by various factors, including the war in Ukraine, Covid-19 lockdowns in China and global inflationary pressures, would continue to disrupt global supply chains for the foreseeable future,” it said in a trading update.

Read: Datatec to sell Analysys Mason for as much as R4.1-billion

“Latin America in particular was expected to be impacted during the first half of the 2023 financial year as macroeconomic challenges across much of the region added to the severe supply-chain constraints. In addition, the material strengthening of the US dollar affected all divisions,” it said.

Read: Jens Montanana’s big plan to ‘dezombify’ Datatec

Datatec said it expects to publish its interim results on 3 November.  – © 2022 NewsCentral Media

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