Further update on M-Tec Transaction 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”) FURTHER UPDATE ON M-TEC TRANSACTION Shareholders are referred to all previous related announcements including the detailed terms announcement released on SENS on 17 July 2015, the subsequent announcement released on 14 September 2015, the results of general meeting announcement released on 10 November 2015 and the update on conditions precedent announcement released on 18 March 2016. The aforementioned announcements relate to the agreement entered into between Jasco Cables Investments Proprietary Limited’s (“Jasco Cables”), a wholly owned subsidiary of Jasco, Community Investment Holdings Proprietary Limited (“CIH”), a related party, and Malesela Holdings No.1 Proprietary Limited (“MH1”), a wholly owned subsidiary of CIH, in terms of which, MH1 will acquire Jasco Cables’ 51.1% shareholding in Malesela Taihan Electric Cable Proprietary Limited (“M-TEC”) for an aggregate purchase price of R60 million (the “Transaction”). In the update announcement released on SENS on 18 March 2016 shareholders were advised that all outstanding conditions precedent have been fulfilled or waived and accordingly the Transaction has become unconditional with the effective date of the Transaction being 1 May 2016. In terms of the Transaction agreement Jasco Cables will be paid in the following manner: - R20 million will be paid on the effective date of 1 May 2016; and - R40 million will be paid through monthly instalments of capital and interest over the repayment period commencing 1 November 2016 and ending 31 May 2019. Jasco would hereby like to inform shareholders that the first tranche payment of R20 million has been received in terms of the provisions set out in the Transaction agreement. Midrand 9 May 2016 Sponsor Grindrod Bank Limited Date: 09/05/2016 08:55:00 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.