JASCO ELECTRONICS HOLDINGS LIMITED - Results of the rights offer

Results of the rights offer

JASCO ELECTRONICS HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 1987/003293/06
Share code: JSC
ISIN: ZAE000003794
("Jasco" or "the Company")

RESULTS OF THE RIGHTS OFFER

Shareholders are referred to the finalisation announcement released
on the Stock Exchange News Service (“SENS”) of the JSE Limited
(“JSE”) on 5 December 2013 and the circular to Jasco ordinary
shareholders dated 13 December 2013 relating to the Jasco rights
offer (“rights offer”). In terms of the rights offer, a total of
72,000,000 Jasco ordinary shares (“rights offer shares”) in the
authorised, but unissued share capital of Jasco, were offered for
subscription to qualifying Jasco ordinary shareholders through
renounceable rights. The subscription price was 80 cents per Jasco
ordinary share on the basis of 49.181 rights offer shares for every
100 existing Jasco ordinary shares held at the close of trade on the
record date of the rights offer.

The rights offer closed on Friday, 17 January 2014. The Company
received excess applications from Jasco ordinary shareholders for
1 484 371 rights offer shares representing 2.06% of the total rights
offer. In terms of the rights offer, the rights of the respective
underwriters shall rank before any/all excess applications are
determined. Accordingly, based on an equitable basis, 494 868 or
33.34% of excess applications were allocated to qualifying Jasco
shareholders. In total the Company raised R57,6 million and
introduced a strategic shareholder at the same time. The rights offer
shares were allotted and the funds received by Jasco on 21 January
2014

The detailed results of the rights offer are set out in the table
below.

                                             % of       Value of shares
                              Number of     rights       @ 80 cents per
                                Shares       offer        rights offer
                                            shares            share
Rights offer shares
available for subscription     72 000 000      100.00      R 57 600 000
Certificated number of
rights
offer shares taken up               1 914        0.00           R 1 531
Uncertificated number of
rights offer shares taken
up                             15 253 137        21.18     R 12 202 509
Total of rights offer
shares
Exercised                      15 255 051        21.19     R 12 204 041
Excess rights offer shares
applied for                     1 484 371         2.06      R 1 187 497
Excess rights offer shares
Allocated                         494 868         0.69        R 395 894
Rights offer shares taken
up by the underwriters         56 250 000        78.13     R 45 000 000
Total rights offer shares
Allocated                      71 999 919       100.00     R 57 599 935


The CSDP or broker accounts in respect of dematerialised shareholders
were updated with rights offer shares and debited with any payments
due on Monday, 20 January 2014.

Johannesburg
21 January 2014

Corporate Adviser and Sponsor
Grindrod Bank Limited

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