A dispute over JSE-listed Jasco Electronics' majority ownership of Reflex Solutions by the fairly new addition’s minority shareholders is heading for arbitration.
Jasco in November warned shareholders in its 2018 annual financial statements that the minority shareholders of Reflex Solutions have raised a legal dispute with Jasco regarding the majority ownership of the company.
Jasco acquired a 51% share in the Johannesburg-based information technology managed services group for R39.8-million in November 2017.
The jointly agreed arbitration has been set down for mid-March.
Further updates will follow on conclusion of the arbitration process.