{"id":52114,"date":"2014-01-24T11:43:35","date_gmt":"2014-01-24T09:43:35","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=52114"},"modified":"2014-01-24T11:43:35","modified_gmt":"2014-01-24T09:43:35","slug":"jasco-concludes-rights-offer","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/hardware\/52114\/jasco-concludes-rights-offer\/","title":{"rendered":"Jasco concludes rights offer"},"content":{"rendered":"

Listed ICT firm\u00a0Jasco Electronics Holdings<\/a>\u00a0says its\u00a0rights offer was successfully concluded on 21\u00a0January 2014, whereby it raised R57.6 million,\u00a0before related costs of R2.6 million.<\/p>\n

It noted that the rights offer has\u00a0also introduced a new strategic shareholder to the group, bringing\u00a0“potential cross-selling business and technical\u00a0alliance opportunities to Jasco”.<\/p>\n

Jasco also further pointed out that it is in the final year of its three-year restructuring
\nprogramme.<\/p>\n

During the last six months to 31 December 2013, the\u00a0majority of the group’s operational businesses, with the\u00a0exception of the Security business, performed solidly, Jasco said in a trading statement on Friday (24 January).<\/p>\n

The ICT-Carrier business unit delivered a “strong profit\u00a0performance through a combination of improved efficiencies and\u00a0the positive impact of the disposal of Telecom Structures\u00a0which took place in the second half of F2013”.<\/p>\n

In ICT-Networks\u00a0and ICT-Enterprise the focus on revenue growth and cost
\ncontainment remains on track, Jasco said.<\/p>\n

The company anticipates that the ongoing\u00a0restructuring costs incurred to date will only continue until\u00a0the end of the next quarter. Overall improvements in working\u00a0capital reduced the group\u00b4s interest cost during the interim\u00a0period.<\/p>\n

Jasco therefore advised that, for the six months ended December 2013, the company expects earnings per share (EPS) to be between 47% and 57%\u00a0lower (between 4.3 cents and 5.4 cents per share) than\u00a0the 10.1 cents per share for the previous corresponding
\nperiod.<\/p>\n

The reduction in this reporting period is\u00a0primarily due to the results of the previous
\ncorresponding period to December 2012 incorporating the\u00a0profit on the disposal of the Midrand property and the\u00a0loss on disposal of Lighting Structures, it said.<\/p>\n

A headline earnings per share is expected to be (HEPS) to be between 0%\u00a0and 10% higher (between 5.0 cents and 5.5 cents per\u00a0share) than the 5.0 cents per share for the six months\u00a0to December 2012.<\/p>\n

More on Jasco<\/h3>\n

Jasco seeking R57.6 million in rights offer<\/strong><\/a><\/p>\n

Jasco swings to full-year loss<\/strong><\/a><\/p>\n

Jasco targets LTE growth<\/strong><\/a><\/p>\n

Jasco sees profits fall amid restructure<\/strong><\/a><\/p>\n

Jasco expects earnings dip<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Jasco Electronics Holdings says its rights offer was successfully concluded on 21 January 2014, whereby it raised R57.6 million.<\/p>\n","protected":false},"author":10,"featured_media":5479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[25,893],"class_list":["post-52114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hardware","tag-active","tag-jasco"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=52114"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52114\/revisions"}],"predecessor-version":[{"id":52116,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52114\/revisions\/52116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5479"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=52114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=52114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=52114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}