Update on the acquisition of Reflex Solutions Proprietary Limited JASCO ELECTRONICS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration Number: 1987/003293/06) Share Code: JSC ISIN: ZAE000003794 ("Jasco" or “the Group”) UPDATE ON THE ACQUISITION OF REFLEX SOLUTIONS PROPRIETARY LIMITED Shareholders are referred to the detailed terms announcement released on SENS on 25 May 2017 advising shareholders that Jasco has entered into a sale of shares agreement (“Transaction Agreement”) with Mr. Greg Wilson and Mr. David Robinson (“the Vendors”) and Reflex Solutions Proprietary Limited (“Reflex”). In terms of the Transaction Agreement, Jasco will acquire 51% of Reflex for a maximum aggregate purchase price of R39.78 million (“the Transaction”). The conclusion of the Transaction was subject to the fulfilment or waiver of certain suspensive conditions, which include, but are not limited to: - delivery by the Vendors, to Jasco, of written proof that the counterparties to key supplier and customer agreements have consented to the transaction contemplated in the sale of shares and claims agreement and to the change of control of Reflex; and - any other suspensive conditions, as may be necessary in relation to the Transaction. Shareholders are advised that the suspensive conditions to the Transaction have been met and accordingly, the Transaction is now unconditional in accordance with the terms of the Transaction Agreement. Midrand 1 June 2017 Sponsor Grindrod Bank Limited Legal Advisor to Jasco Rashaad Sujee Legal Corporate Advisor to Jasco SamuelKennedy Investments (Proprietary) Limited Date: 01/06/2017 02:00:00 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.