Update to tthe audited results for the year ended 30 June 2018 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”) UPDATE TO THE AUDITED RESULTS FOR THE YEAR ENDED 30 June 2018 As indicated to shareholders in the group’s Audited Results for the year to June 2018, released on SENS on Monday 5 November 2018, the group has approached the JSE for the lifting of the voluntary suspension of the group’s securities. Shareholders are advised that the audited annual financial statements for the year ended 30 June 2018 is available on the company’s website at www.jasco.co.za As part of this process, shareholders are referred to the subsequent events section of the Audited Results for the year ended 30 June 2018, detailing the reportable irregularity, the legal dispute raised by the minority shareholders of Reflex Solutions (Pty) Ltd, and PwC Inc.’s unmodified audit opinion in the modified Independent Auditor’s Report contained in the Audited Annual Financial Statements for the year ended 30 June 2018, to note the following information in terms of section 3.18(g) of the JSE Listings Requirements: 1. “Report on other legal and regulatory requirements In accordance with our responsibilities in terms of section 44(2) and 44(3) of the Auditing Profession Act (APA), we report that we have identified a reportable irregularity in terms of the Auditing Profession Act. We have reported such matter to the Independent Regulatory Board for Auditors. The matters pertaining to the reportable irregularity has been described in note 36 to the Annual Financial Statements. 2. Emphasis of matter We draw attention to note 34.3 to the Annual Financial Statements, which indicates that a legal dispute has arisen between the company and the minority shareholders of Reflex Solutions (Pty) Ltd over the ownership of Reflex Solutions (Pty) Ltd, the outcome of which is uncertain. Our opinion is not modified in respect of this matter.” With reference to note 36 on page 86 of the June 2018 Annual Financial Statements it is disclosed that PwC Inc. followed up this report with a second report as required by APA, advising IRBA that, in its view, the reportable irregularities are no longer occurring. With reference to note 34.3 on page 79 of the Audited Annual Financial Statements for the year ended 30 June 2018, it is disclosed that the outcome of this dispute may affect the timing of the payment of the second tranche payment. Based on legal advice, Jasco confirms that its ownership of a controlling interest is not in doubt, only the possible timing of the final payment. Jasco will provide further relevant updates as negotiations continue. Johannesburg 8 November 2018 Sponsor: Grindrod Bank Limited Date: 08/11/2018 01:11:00 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.