JSC
JSC
JSC - Jasco - Listing of Jasco ordinary shares in terms of the redemption and
conversion of Jasco redeemable preference shares
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")
LISTING OF JASCO ORDINARY SHARES IN TERMS OF THE REDEMPTION AND CONVERSION OF
JASCO REDEEMABLE PREFERENCE SHARES
Shareholders are referred to the company`s reviewed results announcement on 8
May 2008 where shareholders were made aware of the finalisation of the Black
Economic Empowerment transaction entered into on 1 March 2003.
In terms of the empowerment transaction, Jasco acquired the entire issued share
capital in Tasslelane Technologies (Pty) Limited from Community Investment
Holdings (Pty) Limited for R31 million. The purchase consideration was settled
through the issue of 20 919 449 Jasco ordinary shares and 29 884 633 Jasco
redeemable preference shares to CIH.
The Jasco preference shares have subsequently been redeemed by Jasco and a total
of 17 162 969 Jasco ordinary shares ("the Jasco conversion shares"), calculated
in terms of the predetermined profit formula in line with Jasco`s earnings
performance for the five years ended 29 February 2008, have been allotted to CIH
(15 846 341 shares) and The Jasco Share Incentive Trust (1 316 628 shares), as
more fully set out in the circular to Jasco shareholders dated 30 April 2008.
The Jasco conversion shares will be issued and listed on the JSE Limited with
effect from the commencement of trade on Wednesday, 21 May 2008.
Johannesburg
20 May 2008
Corporate adviser and sponsor
PSG Capital (Pty) Limited
Date: 20/05/2008 15:30:01 Produced by the JSE SENS Department.
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