Trading Statement 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”) TRADING STATEMENT Introduction In Jasco’s first reporting period post the group’s finalisation of its three-year restructure, the group was unfortunately negatively impacted by the extensive strike action during July 2014 in the Metals & Engineering Industries sector. The main focus during the first half was therefore on recovering the lost sales volumes in the businesses worst affected by the strike, as well as continued cost reductions. As was the case in the preceding six months to June 2014, market conditions continued to remain challenging; with some key customer orders delayed and increased competition in the market. Six months to December 2014 Jasco therefore advises that, for the six months ended 31 December 2014, the company expects: - Earnings per share (“EPS”) to be between 82% and 92% lower (between 0,4 cents and 0,9 cents per share) compared to the 4,9 cents per share for the previous corresponding period; and - Headline earnings per share (“HEPS”) to be between 83% and 93% lower (between 0,4 cents and 0,9 cents per share) than the 5,3 cents per share for the previous corresponding period. The weighted average number of shares in issue for the period increased from 141 272 436 to 214 269 855. An additional 72 million shares were issued in the rights issue of 21 January 2014. Corporate Bond Issue and Redemption of Preference Shares Shareholders are referred to the SENS announcements made on 29 January 2015 relating to Jasco’s first issue of R100 million in terms of its listed R750 million Domestic Medium Term Note Programme. The capital raised was used to fully redeem the R90 million preference shares, issued to AfroCentric Investment Corporation Limited, on 30 January 2015. M-TEC The group has a 51% shareholding in its associate, M-TEC, with Taihan Electric Wire Co. Limited (“Taihan”) of Korea holding the remaining 49% interest. As reported previously, the investment was classified as “held-for-sale” on 1 February 2013 for IFRS reporting purposes. Accordingly, Jasco stopped equity accounting for this investment in its consolidated results for the June 2013 and June 2014 financial years. However Jasco has not been able to conclude the disposal of the asset within the timeframe required. In terms of IFRS 5, the financial statements for the periods since classification as “held for sale” will therefore be amended accordingly. This therefore requires a restatement of the audited results previously reported on, the full impact of which will be included in the December 2014 interim results announcement. Conclusion Although the current period was impacted by strike action and delayed orders in the Enterprise business, the focus will continue on recovering the lost volumes due to the strike. The group is on track in terms of its commitment that the full impact of the restructure will start flowing through from 2015. Management remains committed to completing its exit strategy of its investment in M-TEC. The information in this trading statement has not been reviewed or reported on by the company’s external auditors. Shareholders are further advised that Jasco’s unaudited interim results for the six months ended 31 December 2014 will be announced on 16 February 2015. Midrand 5 February 2015 Sponsor Grindrod Bank Limited Date: 05/02/2015 04:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.