Update regarding the diposal of the Electrical Manufacturers division 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 REGARDING THE DISPOSAL OF THE ELECTRICAL MANUFACTURERS DIVISION Shareholders are referred to the detailed terms announcement released on SENS on Friday, 4 October 2019, which advised that Jasco, through its wholly owned subsidiary Jasco Trading (Pty) Limited, 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”). As indicated in the above-mentioned announcement, the Disposal constitutes a category 1 disposal in terms of the Listings Requirements of the JSE Limited. Jasco sought and received dispensation from the JSE, pursuant to paragraph 9.20(b) of the Listings Requirements. Shareholders are further advised that the circular, including the notice of annual general meeting, will be distributed to shareholders by no later than Monday, 23 December 2019. Midrand 19 November 2019 Sponsor Grindrod Bank Limited Date: 19/11/2019 09:25:00 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.