Disposal of the Electrical Manufacturers division and withdrawel of cautionary announcement 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”) DISPOSAL OF THE ELECTRICAL MANUFACTURERS DIVISION AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are referred to the detailed terms announcement released on SENS on 4 October 2019, which advised that Jasco, through its wholly owned subsidiary Jasco Trading (Pty) Limited, has entered into a sale of business agreement with African Zaibatsu Corporation (Pty) Limited (“AZC”) (“Disposal Agreement”). In terms of the Disposal Agreement, AZC will acquire 100% of the Electrical Manufacturers Division (“EM”), as a going concern from Jasco Trading (Pty) Limited for a maximum expected aggregate purchase price of R65 million (“the Disposal”). PROFIT AND NET ASSET VALUE ATTRIBUTABLE TO EM Shareholders are advised that net assets of EM, included in the audited group annual financial statements for the 12 months ended 30 June 2019, was R76.9 million, including cash on hand of R15.4 million. The net operating profit after tax attributable to the net assets of EM for the same period was R6.5 million. The audited annual financial statements for the 12 months ended 30 June 2019 was prepared in accordance with IFRS. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT Shareholders are advised that all of the detailed terms relating to the Disposal has now been released and that caution is no longer required to be exercised by shareholders when dealing in their securities. Midrand 11 October 2019 Legal Advisor to Jasco Rashaad Sujee Legal Corporate Advisor to Jasco SamuelKennedy Investments (Proprietary) Limited Joint Corporate Advisor and Sponsor Grindrod Bank Limited Date: 11/10/2019 02:30:00 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.