12 June 2014
JASCO ELECTRONICS HOLDINGS LIMITED ∙ (Incorporated in the Republic of South Africa) ∙ (Registration number 1987/003293/06) ∙ Share Code: JSC & ISIN: ZAE000003794 ∙ ("Jasco")
Jasco shareholders are advised that Jasco has entered into an agreement with ConvergeCom Proprietary Limited (“ConvergeCom”), in terms of which Jasco will acquire the sale shares and shareholder claims of Telesto Communications Proprietary Limited (“Telesto”) from ConvergeCom for the maximum acquisition consideration of R 9 850 000 (“the Acquisition”).
Telesto was founded in 1999 and has offices in Centurion as well as presences in Cape Town and Durban. Telesto provides Avaya Contact Centre solutions, with a strong focus on Outbound Dialling systems.
Telesto Communications focuses on providing call centre solutions, specifically for inbound & outbound applications in the collections, telemarketing and telesales industries. The Acquisition provides Jasco with an opportunity to bolster its Enterprise division’s service offering whilst also ensuring consolidation in the South African dialler industry and securing new clientele. Telesto has excellent blue chip customers, which complement Jasco’s customer base. Telesto is a profitable and well established business and will not only enhance Jasco’s annuity type revenue but also add a strong, experienced management team, engineering skills and sales resources to Jasco’s current operations.
This short-form announcement is the responsibility of the directors, and is only a summary of the information in the full announcement and does not contain full or complete details. The full announcement was released on SENS on 12 June 2014, and can be found on the Company’s website at www.jasco.co.za. Copies of the full announcement may also be requested at the Company’s registered office or the office of the sponsor, at no charge, during office hours. Any investment decision should be based on the full announcement published on SENS and on the Company’s website.
12 June 2014
Sponsor to Jasco
Grindrod Bank Limited