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Renewal of 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”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT REGARDING GENERAL OFFER
General Offer
Jasco shareholders are referred to the cautionary announcement
released on SENS on 5 December 2022 which advised that the
company has entered into discussions with its major shareholder
Community Investment Holdings 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 Sale 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 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.
Renewal of 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 continue 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.
19 January 2022
Corporate Advisor and Transaction Sponsor: Grindrod Bank Limited
Date: 19-01-2023 08:45:00
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