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India

Jasco Electronics Holdings Announces Afrocentric's Disposal Of Shares In Jasco


Friday, 1 Jun 2018 

June 1 (Reuters) - Jasco Electronics Holdings Ltd ::AFROCENTRIC'S DISPOSAL OF SHARES IN JASCO.DISPOSAL WILL RESULT IN AFROCENTRIC'S SHAREHOLDING IN JASCO REDUCING TO 0% AND CIH'S DIRECT AND INDIRECT SHAREHOLDING INCREASING TO 31.95%.DISPOSAL WILL RESULT IN ADDITIONAL CASH RESOURCES THAT WILL BE EMPLOYED BY AFROCENTRIC TO ENHANCE ORGANIC GROWTH IN HEALTHCARE BUSINESS.AFROCENTRIC WILL DISPOSE OF ITS 44.2 MILLION SHARES IN ISSUED SHARE CAPITAL OF JASCO TO CIH PROJECTS, FOR PURCHASE CONSIDERATION OF R32 MILLION. 

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