Jasco - AGM Announcement and changes to the Board
DRAFT FOR DISCUSSION PURPOSES
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`
Website: www.jasco.co.za
AGM ANNOUNCEMENT AND CHANGES TO THE BOARD
The Jasco board today Jasco Non-executive chairperson Dr Anna Mokgokong said in
her address to shareholders at today`s said at the group`s AGM that during the
last year, Jasco has successfully completed a period of consolidation and
restructuring over the last year, which has put the group back on a path of
profitability. Loss-makers have been turned around, cash flow significantly
improved, debt eradicated and the balance sheet strengthened.
All operating divisions are now profitable, with experienced management and much
improved operational efficiencies. Dr MokgokongIn herthe chairpersonman`s
statement, Dr Anna Mokgokong said Jasco was was particularly proud of the
recent upgrading of to announce the recent upgrading of Jasco`s its BEE rating
to an A, making it one of the leading empowered companies on the JSE. She said
that the group had been awarded further contracts since the financial year-end
and, as indicated in the Jasco Annual Report, it remained on that management
wais on track to continue delivering improved results this year.
In compliance with rule 3.59 of the Listings Requirements, the Jasco board also
of directors announced today that non-executive deputy chairperson, Theo
Rutstein, has not offered himself for re-election due to other business
commitments. The board is in the process of finding a replacement for him. The
board thanked Theo Mr Rutstein for his contribution over the past seven years as
chairman and deputy chairman and wished him well in his role as executive
chairman of the Teljoy group.
By order of the Board
Jasco Electronics Holdings Limited
Woodmead
6 July 2005
SPONSOR
Sasfin Corporate Finance
A division of SASFIN BANK LIMITED
Date: 06/07/2005 01:14:04 PM
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