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Cautionary Announcement Regarding General 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” or “the group”)
CAUTIONARY ANNOUNCEMENT REGARDING GENERAL OFFER
General Offer
Jasco shareholders are advised that the company has entered into
discussions with its major shareholder Community Holdings No 1
Proprietary Limited (“CIH”) with regards to its intention to
make a general offer (“Offer”), as contemplated in section
117(c)(v) of the Companies Act, 2008 (as amended), to the holders
of Jasco ordinary shares (“Jasco Shareholders”) and to
consequently terminate the listing of the company’s ordinary
shares on the JSE (the “Delisting”).
CIH will offer to purchase all of the issued Jasco ordinary
shares for a consideration (“Offer Consideration”) equivalent to
16 cents per Jasco ordinary share. The Offer Consideration
represents a 4% premium on the 30-day weighted average traded
price (as defined in the JSE Listings Requirements) of Jasco
shares on 2 December 2022, the trading day preceding this
cautionary announcement.
The Offer will be made conditional on Jasco Shareholders passing
a resolution to approve the Delisting at a general meeting of
Jasco shareholders to be convened in due course, subject to the
required regulatory approvals being obtained.
Cautionary Announcement
Jasco Shareholders are advised that the Offer, if successfully
concluded, may have a material effect on the price of the
company’s securities.
Accordingly, shareholders are advised to exercise caution when
dealing in the company’s securities until a further announcement
is made.
Responsibility Statement
The board of directors of the company accepts responsibility for
the information contained in this announcement, and certify
that, to the best of their respective knowledge and belief, the
information is true and, where appropriate, this announcement
does not omit anything likely to affect the importance of the
information included.
5 December 2022
Sponsor: Grindrod Bank Limited
Date: 05-12-2022 03:30:00
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