Jasco Electronics Holdings (JSE:JSC) News - Delay in publication of the Audited Annual Financial Statement for the year ended 30 June 2021 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”) DELAY IN PUBLICATION OF THE AUDITED ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Shareholders are referred to the reviewed condensed provisional results for the year ended 30 June 2021, released on 29 October 2021 (“Results Announcement”). In the Results Announcement shareholders were advised that the group is currently negotiating the extension of the working capital loan from the Bank of China. Should the negotiation not be successful, these events and conditions would cast significant doubt on Jasco's ability to continue as a going concern and therefore, the group may be unable to realise its assets and discharge its liabilities in the normal course of business. The auditors’ Review Opinion on the Results Announcement further included a material Uncertainty Related to Going Concern. Shareholders are advised that the negotiations with the Bank of China is still ongoing. As a result, the Group is not in a position to distribute its integrated annual report and audited consolidated annual financial statements for the year ended 30 June 2021 (“Audited AFS”), to shareholders by close of business on 30 November 2021. In terms of paragraph 3.23 of the JSE Listings Requirements, Jasco’s listing is at risk of being suspended until the Audited AFS have been distributed to shareholders. Jasco have approached the JSE to seek and motivate an extension and requested the JSE to apply its discretionary authority in terms of paragraph 3.24 of the JSE Listings Requirements, to delay the suspension of Jasco’s listing until 31 December 2021, while the Group finalises the negotiations with Bank of China and can then proceed to distribute the Audited AFS. The outcome of this request will be announced as soon as possible. Shareholders are further advised that the rights offer to the value of R55 million, which is to be approximately 80% underwritten by the major shareholder, Community Investment Holdings Proprietary Limited, will proceed subsequent to the completion of the negotiations with the Bank of China and the subsequent distribution of the Audited AFS to shareholders. 29 November 2021 Midrand Sponsor Grindrod Bank Date: 29-11-2021 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.