Audited Annual Financial Statements - JAS02 JASCO ELECTRONICS HOLDINGS LIMITED (Incorporated in the Republic of South Africa with limited liability under registration number 1987/003293/06) (“Jasco Electronics” or “Issuer”) Date: 15 October 2019 JAS02 – ZAG000156761 AUDITED RESULTS AND COVENANT UPDATED FOR PERIOD ENDED 30 JUNE 2019 Audited Annual Financial Statements Jasco Electronics Holdings Limited (Registration number 1987/003293/06) has publicly released its Audited Annual Financial Statements for the full year ended June 2019. The audited annual financial statements and the auditor’s report thereon available on the Jasco Electronics website http://www.jasco.co.za/Investor-Relations-Financial-Reports/annual-results and is also available for inspection at the Jasco Electronics registered office on Corner Alexandra Avenue and 2nd Street, Midrand, 1685 South Africa. No Change Statement Noteholders are advised that the audit report on the financial statements of the Issuer are unqualified, with no modifications. Furthermore, the Issuer would like to advise noteholders for the following: 1. There was a change in accounting policies due to the adoption of the new and revised standards that are relevant to its operations and effective for annual reporting periods beginning on 1 July 2018. The adoption of these new and revised standards and interpretations has not resulted in material changes to the company's accounting policies. Please refer to note number 32 in the Notes to the Annual Financial Statements for further details. 2. Noteholders are referred to the events after the reporting date section of the Audited Results for the year ended 30 June 2019 (note 33 of the financial statements), detailing the proposed sale of Electrical Manufacturers business in Jasco Trading (Pty) Ltd which is still subject to certain conditions precedent. Financial Covenants Notification The Issuer’s financial covenants, applicable to the listed notes, is required to be maintained as follow: • the Interest Cover Ratio is not less than 2 : 1 (two to one); • the Debt to EBITDA Ratio does not exceed 3.5 : 1 (three point five to one); and • the Debt to Equity Ratio does not exceed 60% (sixty percent). The Issuer confirmed that the financial covenant testing for the period ending 30 June 2019 has been completed with the covenant status reported as follow: • Interest Cover Ratio: 0.7 : 1 (zero point seven to one) (not passed – please refer to notes 20 & 33 of the financial statements for further details) • Debt to EBITDA Ratio: 1.8 : 1 (passed) • Debt to Equity Ratio: 81.4% (compared to covenant of 60%: not passed - please refer to notes 20 & 33 of the financial statements for further details) Further information on the Programme please contact: Redinkcapital Charlize Wiederkehr Tel: +27 10 0052014 Email: charlize@red-inc.co.za Page 2 of 2 Date: 15/10/2019 01:14:00 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.