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Datatec Ltd (DTCJ.J)

DTCJ.J on Johannesburg Stock Exchange

5,787.51ZAc
19 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Datatec unit Logicalis Group buys 51 pct stake in Nubeliu
Tuesday, 4 Jul 2017 02:00am EDT 

July 4 (Reuters) - Datatec Ltd ::Its subsidiary Logicalis Group Limited ("logicalis") has acquired a 51 pct stake in Nubeliu.  Full Article

Datatec Ltd says Logicalis to buy majority stake in Packet Systems Indonesia
Tuesday, 20 Jun 2017 02:00am EDT 

June 20 (Reuters) - Datatec Ltd : :Datatec Ltd - unit Logicalis Group and Indonesian partner Metrodata, agreed to acquire majority stake in Packet Systems Indonesia.Datatec Ltd - acquisition will be effected by Logicalis acquiring 54% of psi and Metrodata acquiring a 14% shareholding.Datatec Ltd - remaining 32% will continue to be held by PSI management shareholders.Datatec Ltd - total consideration payable by Logicalis will be $6.8 million in cash funded from Logicalis' existing bank facilities.  Full Article

Synnex on termination of agreement by co, in event Datatec, unit breach terms of non-solicit obligations, Datatec to pay $24.9 mln
Tuesday, 6 Jun 2017 06:53am EDT 

June 6 (Reuters) - Synnex Corp ::Synnex- Upon termination of agreement by co, in event Datatec, unit breach terms of non-solicit obligations, among others, Datatec to pay co $24.9 million.Synnex says if agreement is terminated because Datatec shareholder consent is not obtained, Datatec to pay co termination fee of $3.0 million- sec filing.Synnex - in event of cash election, if agreement terminated as certain lender consents not obtained, co to pay Datatec termination fee of $3.0 million.  Full Article

Datatec says to sell Westcon-Comstor America business for up to $800 mln
Tuesday, 6 Jun 2017 01:05am EDT 

June 6 (Reuters) - Datatec Ltd ::Datatec - to sell Westcon-Comstor North America and Latam operations for up to $800 million and 10 pct of rest of westcon-comstor for $30 million to Synnex.Datatec- to dispose of Westcon-Comstor business in North America ,Latin America for maximum consideration of $800 million, to sell 10% of remaining part of westcon synnex, for $30 million.Maximum consideration of $830 million equates to an equity valuation of total Westcon-Comstor division of $1.1 billion.Closing of transaction is subject to a number of conditions including shareholder and regulatory approvals.Consideration includes a contingent element of up to $200 million payable in cash after determination of results for fy ending 28 february 2018.Datatec anticipates that deferred and contingent cash payment of up to $200 million will be returned to shareholders in due course.Expected date for completion of transaction is towards end of third calendar quarter of 2017.  Full Article

Synnex to buy Westcon-Comstor Americas business
Tuesday, 6 Jun 2017 01:02am EDT 

June 6 (Reuters) - Synnex Corp ::Synnex to acquire westcon-comstor north america and latin america businesses.Deal for $500 mln in stock and $100 mln in cash at closing.Synnex - synnex will acquire datatec's westcon-comstor Americas business and become minority shareholder in Datatec's westcon emea and apac businesses.Deal includes up to $200 mln earn out if certain financial targets are achieved through feb 2018.$30 million for 10% ownership of datatec's westcon emea and apac businesses.Revenues for q2 ended may 31st are now estimated to come in above high end of guidance range of $3.575-$3.775 billion.Non-Gaap eps is estimated to come in above high end of guidance range of $1.70 - $1.78 for q2.Q2 earnings per share view $1.76, revenue view $3.66 billion -- Thomson Reuters I/B/E/S.  Full Article

Datatec says full-year revenue at $6.08 bln vs $6.45 bln yr ago
Monday, 22 May 2017 02:00am EDT 

May 22 (Reuters) - Datatec Ltd ::Fy group revenue $6.08 billion (fy16: $6.45 billion).Fy ebitda $118.9 million (fy16: $162.1 million).Fy gross margin 13.7% (fy16: 13.5%).Fy underlying* earnings per share 11.0 us cents (fy16: 32.0 us cents).Datatec - has been challenged in fy17 by implementation of bpo and sap within westcon-comstor which has had an adverse impact on profitability, working capital and cash generation..Group is in final phase of this process and expects an improved performance in financial year ahead..Fy profit before tax was $41.7 million (fy16: $88.4 million)..FY HEPS at 4,293 cents versus 40,016 cents year ago.  Full Article

Datatec updates cautionary announcement
Friday, 7 Apr 2017 02:00am EDT 

Datatec Ltd : Cautionary announcement & trading statement . Cautionary announcement relates to a possible sale of a major share of westcon-comstor's operations for a consideration of more than us$800 million .Proposed transaction is subject to contract and exclusivity provisions..  Full Article

Datatec says pays total gross cash div of 88.5 mln rand
Monday, 28 Nov 2016 02:00am EST 

Datatec Ltd : In terms of scrip distribution, 812,130 new ordinary shares were issued today to shareholders who did not elect to receive cash dividend . This resulted in a capitalisation of distributable retained profits of company of 38.2 mln rand . Shareholders holding 147.5 mln ordinary shares elected to receive gross cash dividend .This resulted in a total gross cash dividend of 88.5 mln rand which was paid out of distributable retained profits of company.  Full Article

Datatec says Dittrich to join as CFO on May 30
Wednesday, 11 May 2016 02:01am EDT 

Datatec Ltd : Change to board of directors - Ivan Dittrich returns as CFO . Ivan Dittrich will join board as chief financial officer (cfo) on 30 May 2016 .Jurgens Myburgh, group's current CFO, has accepted position of CFO of Mediclinic International and will leave Datatec at end of july 2016.  Full Article

Datatec says FY revenue rises to $6.5 bln
Wednesday, 11 May 2016 02:00am EDT 

Datatec Ltd : FY group revenue $6.5 billion (FY15: $6.4 billion) . underlying. earnings per share 32.0 us cents (fy15: 41.8 us cents) .Our expectation at this stage is for an improvement in earnings and operating leverage in FY17..  Full Article

BRIEF-Datatec completes Westcon-Comstor sale to Synnex Corp

* COMPLETED SALE OF ITS WESTCON-COMSTOR BUSINESS IN NORTH AMERICA AND LATIN AMERICA AND OF 10 PCT OF REMAINING PART OF WESTCON TO SYNNEX CORP​