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TTO
TTO
TTO - Trustco Group Holdings Limited - Reclassifications and Notice of Annual
General Meeting
Trustco Group Holdings Limited
(Incorporated in the Republic of Namibia)
Registration number: 2003/058
Issuer Long Name: Trustco Group Holdings Ltd
NSX Instrument Alpha Code/Ticker Symbol: TUC
JSE Instrument Alpha Code/Ticker Symbol: TTO
ISIN: NA000A0RF067
("the Group" or "Company")
RECLASSIFICATIONS AND NOTICE OF ANNUAL GENERAL MEETING
Certain line items in the balance sheet, income statement and cash flow
statement as published on 28 May 2009, have been changed as a result of
reclassifications which were done to improve the disclosure in the annual
financial statements.
Below is a reconciliation of these items:
Balance Sheet
Audited Reviewed Change
year ended year ended
31 March 31 March
N$ `000 2009 2009
Trade and other payables 179 368 177 846 1 522
Provision for share - 1 522 (1 522)
appreciation rights
The provision was reclassified on the dissolution of the Share Appreciation
Rights. The Company intends to implement a new Staff Share Incentive Scheme
("the Scheme") and is in the process of seeking the necessary approval from the
JSE, the NSX and Company shareholders for the implementation of the Scheme.
Please refer to the Notice of the Annual General Meeting included in the Annual
Report for more details.
Income Statement
Audited Reviewed Change
year ended year ended
31 March 31 March
N$ `000 2009 2009
Insurance Premium Revenue 93 847 93 745 102
Change in unearned premium (165) (63) (102)
provision
A part of the provision was set off directly against revenue.
Cash Flow Statement
Audited Reviewed Change
year ended year ended
31 March 31 March
N$ `000 2009 2009
Cash generated from operations 95 744 96 325 (581)
Taxation paid (137) (720) 583
Sale of deemed treasury shares 19 264 19 266 (2)
Non-cash items were removed from the tax calculation.
Revenue of the Insurance segment was affected by these changes.
The annual financial statements were audited by BDO Spencer Steward (Namibia)
and BDO Spencer Steward (South Africa) and their report is available for
inspection at the Company`s registered office.
Notice is hereby given that the annual general meeting of shareholders will be
held at 10:00 on 27 August 2009 at the registered office in Namibia to transact
business as stated in the notice to the annual general meeting which forms part
of the annual financial statements.
By order of the board
PJ Miller
Company Secretary
Windhoek, 7 August 2009
Directors:
Dr D Namwandi (Chairman), Mr A Toivo ya Toivo, Mrs V de Klerk, Mrs M Nashandi,
Mr FJ Abrahams, Mr G Walters, Mr Q van Rooyen (Managing Director)
Registered Office (Namibia)
Trustco House
2 Keller Street
P O Box 11363
Windhoek
Namibia
Registered Office (South Africa)
201 BP House
10 Junction Avenue
Parktown
2193
South Africa
NSX Sponsor
IJG Securities (Pty) Ltd
Registration No. 95/0080
Member of the NSX
100 Robert Mugabe Avenue
Windhoek
Namibia
(PO Box 186, Windhoek, Namibia)
Telephone: +264 61 383 500
Facsimile: +264 61 304 671
JSE Sponsor
QuestCo Sponsors (Pty) Ltd
Registration No. 2004/018276/07
The Campus
57 Sloane Street
1st Floor, Wrigley Field
Bryanston
South Africa
(PO Box 98956, Sloane Park, 2152, South Africa)
Telephone: +27 11 575 0088
Facsimile: +27 11 576 0088
Transfer Secretaries (South Africa)
Computershare Investor Services (Pty) Ltd
Registration number 2004/003647/07
Ground Floor
70 Marshall Street
Johannesburg, 2001
(PO Box 61051, Marshalltown, 2107)
Telephone: +27 11 370 7700
Facsimile: +27 11 688 7716
Transfer Secretaries (Namibia)
Transfer Secretaries (Pty) Ltd
Registration number 93/713
Shop 8
Kaiser Krone Centre
Post Street Mall
(PO Box 2401, Windhoek, Namibia)
Telephone: +264 61 22 76 47
Facsimile: +264 61 24 85 31
Date: 07/08/2009 12:14:01 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
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employees and agents accept no liability for (or in respect of) any direct,
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