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Update regarding the disposal of the electrical manufacturers division - JAS02
JASCO ELECTRONICS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa with limited
liability under registration number 1987/003293/06)
(“Jasco Electronics” or “Issuer”)
Date: 18 November 2019
JAS02 – ZAG000156761
UPDATE REGARDING THE DISPOSAL OF THE ELECTRICAL
MANUFACTURERS DIVISION
Noteholders are referred to the SENS announcement dated
Tuesday the 15th October 2019, referencing to the proposed
sale of Electrical Manufacturers business in Jasco Trading
(Pty) Ltd, a wholly owned subsidiary of the Issuer.
The Issuer, through its wholly owned subsidiary Jasco
Trading (Pty) Limited, entered into a sale of business
agreement with African Zaibatsu Corporation (Pty) Limited
(“AZC”) (“Disposal Agreement”). In terms of the Disposal
Agreement, AZC will acquire 100% of the Electrical
Manufacturers Division (“EM”), as a going concern from
Jasco Trading (Pty) Limited for a maximum expected
aggregate purchase price of R65 million (“the Disposal”).
The Disposal constitutes a Permitted Disposal as defined in
paragraph 6.24.4 of the Additional Terms and Conditions
which apply to Notes, as annexed to the Applicable Pricing
Supplement.
Further information on the Programme please contact:
Redinkcapital
Charlize Wiederkehr
Tel: +27 10 0052014
Email: charlize@red-inc.co.za
Date: 19/11/2019 08:50:00
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