| Mon 31 Mar 2008, 9:54 | | JSC - Jasco Electronics Holdings Limited - Trading statement |
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JSC
JSC
JSC - Jasco Electronics Holdings Limited - Trading statement
JASCO ELECTRONICS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1987/003293/06)
Share code: JSC ISIN: ZAE000003794
("Jasco" or "the company")
Trading statement
Jasco hereby advises that for the financial year ending 29 February 2008, the
company expects both earnings per share (EPS) and headline earnings per share
(HEPS) to be between 21% and 34% higher than the corresponding period. This
implies EPS and HEPS of between 46,1 cents and 50,9 cents per share
respectively.
Shareholders are reminded of the anticipated dilution to the company`s EPS and
HEPS following Jasco`s BEE transaction with Community Investment Holdings (CIH)
in 2003. At the time, the purchase consideration for Tasslelane Investments
(Pty) Limited was settled through the issue of both ordinary and preference
shares. 29 884 633 redeemable preference shares were issued to CIH, which were
eligible for redemption subsequent to the finalisation of the 29 February 2008
annual audit. Following on from the redemption, Jasco ordinary shares will be
issued to CIH based on a predetermined profit formula in line with the Jasco
earnings performance for the five years ended 29 February 2008.
Therefore, after taking the expected issue of new ordinary shares to CIH into
account, as well as the maximum number of shares available in terms of the Jasco
employee share option scheme of 4 990 786 shares, the diluted EPS and diluted
HEPS are expected to be between 32% and 45% higher than the corresponding
period. This implies diluted EPS and HEPS of between 34,9 cents and 38,4 cents
per share respectively.
The information in this trading update has not been reviewed or reported on by
the company`s auditors.
Johannesburg
31 March 2008
Sponsor
PSG Capital (Pty) Ltd
Date: 31/03/2008 09:54:01 Produced by the JSE SENS Department.
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