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TTO
TTO
TTO - Trustco Group Holdings Limited - Arbitration proceedings between Trustco
Group International (Pty) Ltd (TGI) and The South African Broadcasting
Corporation
TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
("the Company" or "the Group" or "Trustco")
Arbitration Proceedings Between Trustco Group International (Pty) Ltd (TGI) and
the South African Broadcasting Corporation
In its previous annual reports, Trustco Group Holdings Limited ("the company"),
referred to the pending arbitration proceedings between TGI and the South
African Broadcasting Corporation.
The Company hereby announces the final award made by the Arbitrator, Adv SF
Burger SC on 21 June 2010 which reads as follows:
"I accordingly make the following award against the SABC and in favour of
Trustco
1 Payment of the amount of R24,721,341.00;
2 Interest a tempore morae on the amount in (1) from 22 October 2004
being the date of the statement of claim until date of payment;
3 Costs of the arbitration, including my costs, costs of the venue and
costs of recording and transcription services and the costs of two
Counsel;
4 The qualifying fees of Mr James Hodge."
The award although termed a final award is subject to an appeal by either party.
An appeal must be lodged within 7 days from the date of the award. A follow-up
SENS will be published after this period to inform the market of any further
actions by either party.
By order of the Board
PJ Miller
Company Secretary
Windhoek, 23 June 2010
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
Directors: Mrs M Nashandi (Acting Chairman), Mr. A Toivo Ya Toivo , Mrs. V de
Klerk, Mr. FJ Abrahams, Mr. G Walters, Mr. Q van Rooyen (Managing Director)
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: 23/06/2010 14:28:03 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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