JASCO ELECTRONICS HOLDINGS LIMITED - Update to Lease Agreement with a related party

Update to Lease Agreement with a related party

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 TO LEASE AGREEMENT WITH A RELATED PARTY

Shareholders are referred to the announcement released on SENS on 22 April 2022, regarding the
Related Party Lease Agreement entered into between Jasco, together with Jasco Trading Proprietary
Limited (“Jasco Trading”), (a wholly owned subsidiary of Jasco) and CIH Projects no 55 Proprietary
Limited (an associated company of Community Investment Holdings Proprietary Limited (“CIH”)).


One of the suspensive conditions to the Related Party Lease Agreement remains to register the
property in the name of CIH. If any Suspensive Condition is not fulfilled for any reason whatsoever and
is not waived, the Related Party Lease Agreement shall be of no force or effect. The parties shall be
entitled to be restored as near as possible to the positions in which they would have been, had this
Related Party Lease Agreement not been entered.


The parties are in the process of finalising the required documents to register the property in the name
of CIH. Delays were experienced in obtaining the correct rates and taxes clearance certificate required
to effect the transfer of title. Jasco has now received the correct clearance certificate and made the
necessary payment to facilitate the finalisation of the transfer process.


The Related Party Lease Agreement constitutes a related party transaction in terms of the Listings
Requirements of the JSE Limited and is therefore subject to shareholder approval. Shareholders are
advised that, due to the delays experienced, the JSE has granted Jasco an extension and that the
circular containing, inter alia, the details of the Related Party Lease Agreement, the report of the
independent expert and a notice of general meeting will be distributed to Jasco shareholders on or
about 4 August 2022.



Midrand
10 June 2022


JSE Sponsor
Grindrod Bank Limited

Date: 10-06-2022 09:30:00
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.