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
1 June 2017
Grindrod Bank Limited
Legal Advisor to Jasco
Rashaad Sujee Legal
Corporate Advisor to Jasco
SamuelKennedy Investments (Proprietary) Limited
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