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Outcome of arbitration process regarding the dispute with the minority shareholders - JAS02
JASCO ELECTRONICS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1987/003293/06)
("Jasco" or “the group”)
Date: 19 July 2019
Stock Code: JAS02
ISIN: ZAG000156761
Outcome of arbitration process regarding the dispute with the minority shareholders of Reflex Solutions
Proprietary Limited
Noteholders are referred to the SENS announcements on 8 February 2019 and 29 March 2019 when it was
disclosed that Jasco, as the majority shareholder in Reflex Solutions Proprietary Limited (“Reflex Solutions”), and
the minority shareholders of Reflex Solutions are in a dispute. The dispute involves the validity of the
cancellation by the minority shareholders of the sale of shares and shareholders’ agreements entered into
between Jasco and Reflex Solutions in 2017.
Noteholders are advised that the arbitration process concluded on 17 July 2019. The arbitrator found in favor of
Jasco and ruled that the cancellation by the minority shareholders of the sale of shares and shareholders'
agreement was invalid and that the agreements entered into between Jasco, the minority shareholders and
Reflex Solutions in 2017, as well as Jasco’s majority interest in Reflex Solutions remain in full force and effect.
The time period for either party to appeal the arbitration award expires on 31 July 2019.
For further information on the Note issued please contact:
Charlize Wiederkehr
Redinkcapital
(010) 005 2014
Date: 19/07/2019 08:56:00
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