Jasco Electronics and Reflex Solutions will continue their arbitration hearings this week (4 and 5 April).
Meanwhile, the group expects that it will be able to publish its December 2018 interim results by mid-April.
The group issues a SENS announcement alerting shareholders that the dispute with minority shareholders in Reflex Solutions, over the validity of the cancellation of their shares and shareholders’ agreement, is ongoing.
Arbitration hearing dates were scheduled for 14 and 15 March and an interlocutory hearing was held. The arbitration process will now continue on 4 and 5 April 2019 for the dispute to be heard.
Due to the dispute, Jasco has not been in possession of Reflex Solutions’ financial information for period ending December 2018.
The parties have, however, reached an amicable solution regarding the provision of Reflex’ financial information for the reporting period in order to proceed with the release of the interim results of the group ahead of the conclusion of the arbitration proceedings.
Jasco therefore anticipates publishing the group’s December 2018 interim results in mid-April 2019.