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JSE
TTO
TTO - Trustco Group Holdings - Agreement With The Institute Of Open Learning
And Withdrawal Of IOL Cautionary Announcement
TRUSTCO GROUP HOLDINGS LTD
Registration No. 2003/058
Registration in Namibia
ISIN Code: NA000AOKE891
JSE Share Code: TTO
NSX Share Code: TUC
AGREEMENT WITH THE INSTITUTE OF OPEN LEARNING AND WITHDRAWAL OF IOL CAUTIONARY
ANNOUNCEMENT
Trustco Group Holdings Limited announces that its subsidiary, The Institute For
Open Learning (Pty) Ltd ("IOL") concluded an Agreement with the International
University of Management (Pty) Ltd ("IUM").
In terms of the Agreement IOL will present the 32 accredited study courses of
IUM by way of distance education throughout Namibia. It is planned to expand the
presentation of new courses to other countries in Africa. The Agreement is on
similar terms as Agreements IOL has with other educational institutions such as
the North West University in South Africa.
Dr D. Namwandi, the Chairman of the Board, is also a Director of IUM. Dr.
Namwandi is not involved in the management of IOL.
Trustco believes that the conclusion of this Agreement will increase IOL`s
turnover and profitability significantly.
The Cautionary Announcement published on 23 January 2009 regarding the IOL
negotiations is hereby uplifted.
By order of the board
PJ Miller
Company Secretary
17 February 2009
Registered Office
Trustco House
2 Keller Street
P O Box 11363
Windhoek
Namibia
Directors:
D Namwandi (Chairman), V de Klerk, M Nashandi, G Walters, AH Toivo ya Toivo, FJ
Abrahams, Q van Rooyen (Managing Director)
Sponsor NSX
IJG Securities (Pty) Ltd
Sponsor SA: QuestCo Sponsor (Pty) Ltd
Date: 17/02/2009 14:36:13 Produced by the JSE SENS Department.
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