Further Update – Competition commission ruling on acquisition of cross fire Management 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”) FURTHER UPDATE – COMPETITION COMMISSION RULING ON THE PROPOSED ACQUISITION OF CROSS FIRE MANAGEMENT PROPRIETARY LIMITED INTRODUCTION Shareholders are referred to the SENS announcements published on 22 March 2017, 1 June 2017 and 3 July 2017, wherein shareholders were advised that Jasco had entered into a sale of shares agreement (“Transaction Agreement”) with John Henry Cross (“the Vendor”) and Cross Fire Management Proprietary Limited (“Cross Fire”). In terms of the Transaction Agreement, Jasco proposed to acquire 65.4% of Cross Fire for a maximum aggregate purchase price of R52.3 million (“the Transaction”). COMPETITION COMMISSION RULING On 3 July 2017 shareholders were advised of the Competition Commission’s decision to prohibit the merger transaction on the basis that, in their view, the merger will result in a substantial prevention or lessening of competition in the market for active fire protection services, particularly in the Western Cape and Gauteng regions. Jasco still does not share this view held by the Competition Commission. After careful deliberation, both Cross Fire and the Group has decided not to appeal the decision by referring it to the Competition Tribunal for reconsideration. SUSPENSIVE CONDITIONS The approval of the merger transaction by the Competition Commission was a material suspensive condition and as was previously announced, the date for all the suspensive conditions to be met was extended to 31 July 2017. Consequently, given that not all the suspensive conditions were met, the Transaction is regrettably terminated. Midrand 1 August 2017 Sponsor Grindrod Bank Limited Date: 01/08/2017 05:05:00 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.