Jasco Electronics Holdings Set To Delist From The JSE
Jasco Electronics Holdings Set To Delist From The JSE. South African company Jasco Electronics has announced that it plans on delisting the company’s shares from the Johannesburg Stock Exchange (JSE). The company also said that its majority shareholder, Community Holdings will offer to buy the company’s shares provided the deslisting of the company is approved.
Jasco Electronics Holdings said in a statement, “Jasco shareholders are advised that the company has entered into discussions with its major shareholder Community Holdings No 1Proprietary Limited (“CIH”) with regards to its intention tomake a general offer (“Offer”), as contemplated in section117(c)(v) of the Companies Act, 2008 (as amended), to the holdersof Jasco ordinary shares and to consequently terminate the listing of the company’s ordinary shares on the JSE.”
It continued to say, “CIH will offer to purchase all of the issued Jasco ordinary shares for a consideration equivalent to 16 cents per Jasco ordinary share. The Offer Consideration represents a 4% premium on the 30-day weighted average traded price of Jasco shares on 2 December 2022, the trading day preceding this cautionary announcement. The offer will be made conditional on Jasco Shareholders passing a resolution to approve the delisting at a general meeting of Jasco shareholders to be convened in due course, subject to the required regulatory approvals being obtained.”
Jasco is a South African company that delivers Smart Technologies across multiple disciplines. By leveraging synergies between these disciplines, Jasco is able to deliver complete end-to-end solutions. The group not only delivers across the value chain, but in many cases owns the value chain: from in-house design and engineering to manufacturing and managed services. Jasco has offices in all major regions in South Africa and has expanded into East Africa.
