JASCO ELECTRONICS HOLDINGS LIMITED - Shareholder Update: Afrocentric Investment Corporation Limited (Afrocentric) Preference Shares Extension

Shareholder Update: Afrocentric Investment Corporation Limited (“Afrocentric”) Preference Shares Extension

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”)

SHAREHOLDER UPDATE: AFROCENTRIC INVESTMENT CORPORATION LIMITED (“AFROCENTRIC”)
PREFERENCE SHARES EXTENSION

1.   INTRODUCTION

     Shareholders are referred to the Preference Share Subscription Agreement entered into between AfroCentric,
     Jasco and Jasco Cables Investments (Proprietary) Limited (“Jasco Cables”) on 31 March 2008 and the Put
     Option Agreement entered into between AfroCentric and Jasco on 31 March 2008 with the annexures thereto
     (‘the Subscription Agreement”) which contains the terms and conditions of AfroCentric’s preference share
     investment in Jasco Cables.



2.   EXTENSION OF AFROCENTRIC PREFERENCE SHARES

     Shareholders are advised that the parties have agreed to the extension of the redemption date by which the
     R100 million AfroCentric preference shares need to be redeemed. This will be reviewed on an annual basis.
     The implication of this extension is that the liability arising from the AfroCentric preference share will be
     classified as a long term liability in the financial results of Jasco for the year ended 30 June 2013.


     The Jasco Board of Directors extend their thanks to the AfroCentric Board of Directors for the continuing
     support.


Johannesburg
22 August 2013


Sponsor
Grindrod Bank Limited

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