TTO - Trustco Group Holdings Limited - Proposed investment by international
TTO
TTO
TTO - Trustco Group Holdings Limited - Proposed investment by international
finance corporation (IFC) in Trustco student loan facility
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")
Proposed Investment By International Finance Corporation (IFC) in Trustco
Student Loan Facility
1 Shareholders are referred to the Cautionary Announcements published on 01
July 2010 and 13 August 2010.
2 The Company announces that the proposal was approved by the Board of the
IFC and the Board of the Company. The agreements were signed by the parties
on 21 September 2010.
3 The salient aspects of the loan are the following:
3.1 The loan is for an amount of R80 Million which will be disbursed at
the Borrower`s discretion in the form of one or more fixed or floating
rate Rand disbursements.
3.2 The loan is for a period of seven years and will be repaid in equal
bi annual installments, the first payment becoming due on 15 December
2012 and the final payment falling due on 15 June 2017.
3.3 The loan shall carry interest calculated at JIBAR plus 5,25%.
4 The proposed investment will support the long term strategy of the Group as
it expands its micro-lending and education business in Namibia and in the
Southern African region and will contribute to improving education and
enhancing the productive capacity and job earning potential of Namibians
and inhabitants of the Southern African Countries.
5 The Cautionary Announcements published on 01 July 2010 and 13 August 2010
are hereby uplifted.
JSE Sponsor
QuestCo Sponsors (Pty) Ltd
NSX Sponsor
IJG Securities (Pty) Ltd
Date: 21/09/2010 11:31:01 Produced by the JSE SENS Department.
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