JSE-listed Jasco Electronics Holdings is in talks to sell its Midrand property and has urged shareholders to trade cautiously.
It cautions this could have a material effect on the price of its shares if the deal goes through successfully. It did not specify which property is being sold.
The company went through a period of restructuring almost a year ago, which saw it organise into three divisions - ICT Solutions, Industry Solutions and Energy Solutions - from four previously.
Jasco also stripped out R9.7 million from its future cost base by flattening the organisational structure and restructuring the business. Savings came from eliminating duplicated senior executive positions, direct listing costs such as non-executive directors, annual reports and professional services fees.
Its shares closed 4c, or 2.74% higher, at 150c on Friday.
Share
