13. Subsequent eventsfor the year ended 28 February 2023

Increased shareholding in subsidiaries

Effective 3 March 2023, Logicalis Spain, SL, a wholly owned subsidiary of Logicalis International Limited increased its shareholding in Audea Seguridad de la Informacion, SL by 2.3% to 72.3%. Effective 21 April 2023, Logicalis Spain, SL increased its shareholding in Audea Seguridad de la Informacion, SL by 13.85% to 86.15%.

Dividend declared

On 23 May 2023, the Board declared a final dividend for FY23 of 195 ZAR cents per share, equivalent to 10 US cents per share or in total US$22.5 million with the customary form of a cash dividend with a scrip distribution alternative.

Management incentive plan – Logicalis International

Logicalis International implemented the Logicalis International Long Term Incentive Plan (LILTIP) in March 2023 following a corporate restructuring.

A fixed return instrument was issued to Datatec PLC in addition to its ordinary equity. The Logicalis International Executive Leadership team, being 18 individuals, invested 5.4% of the ordinary equity of the new structure with the same rights as Datatec's ordinary shares in Logicalis International. A further 0.9% of the ordinary equity is available for purchase by management to allow for changes to the management team up to a total limit of 6.3%.

There were no other material subsequent events.