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Jasco Electronics Holdings Ltd announces acquisition of Telesto Communications Proprietary Limited


Thursday, 12 Jun 2014 10:27am EDT 

Jasco Electronics Holdings Ltd:Says Jasco Enterprise Proprietary Limited (Jasco Enterprise), subsidiary of Company, enters into agreement with ConvergeCom Proprietary Limited (ConvergeCom) and Telesto Communications Proprietary Limited (Telesto).In terms of which Jasco Enterprise will acquire all of shares in the issued share capital of Telesto constituting 100 pct of total issued share capital of Telesto (Sale Shares), as well as certain shareholder claims (Claims), from ConvergeCom.Says maximum consideration is 9,850,000 rand (Acquisition).Notwithstanding signature date of Acquisition but subject to all of conditions precedent to Acquisition being fulfilled or waived, as the case may be, the effective date of the Acquisition will be May 01, 2014 (Effective Date). 

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