JASCO ELECTRONICS HOLDINGS LIMITED - General issue of shares for cash
JSC 201504240007A
General issue of shares for cash
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” or “the group”)
General issue of shares for cash
Shareholders are advised that Jasco have issued 10 919 961
ordinary shares for cash at a share price of 55 cents each to
TMM Holdings (Pty) Limited (“TMM Holdings”), under general
authority, to reduce outstanding group borrowings.
The subscription price represents a discount of 9.8% to the
30 trading day VWAP of Jasco shares up to and including 8
April 2015, which was the day preceding the date that the
general issue of shares for cash was agreed.
TMM Holdings is a public shareholder in terms of the Listings
Requirements of the JSE Limited and its beneficial interest
in the ordinary shares of Jasco as a result of the general
issue of shares for cash amounts to 4.76%.
The general issue of shares for cash will decrease the
outstanding borrowings in the company and contribute to the
future sustainability of Jasco by improving the solvency and
liquidity ratios.
Midrand
24 April 2015
Sponsor: Grindrod Bank Limited
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