TRUSTCO GROUP HOLDINGS LIMITED - TTO : Small Related Party Transaction Update
TTO : Small Related Party Transaction Update:
TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
Registered as an external company in South Africa
(External registration number 2009/002634/10)
NSX share code: TUC
JSE share code: TTO
OTCQX share code: TSCHY
ISIN Number: NA000A0RF067
("Trustco" or "the Company")
SMALL RELATED PARTY TRANSACTION - UPDATE REGARDING THE PROPOSED ACQUISITION OF THE
BANKING AND FINANCE SEGMENT BY INSURANCE AND ITS INVESTMENTS SEGMENT.
Trustco Shareholders ("Shareholders") are referred to the SENS announcement released on
28 October 2019 ("previous SENS") regarding its intention to dispose of all businesses held in its
Banking and Finance Segment to its Insurance and its Investment Segment ("Restructuring
Transaction").
It was mentioned in the previous SENS that the Restructuring Transaction agreements ("Agreements")
are subject to certain condition precedents, one being the obtaining of all regulatory approvals,
specifically from the Bank of Namibia, which are necessary for the implementation of the Agreements.
Shareholders are advised that the Company has not yet received the required approval for the
Restructuring Transaction from Bank of Namibia yet and therefore has not yet appointed an
Independent Expert for the fairness opinion required by the JSE for small related party transactions.
Subsequent to receiving the approval from the Bank of Namibia, Trustco will appoint an Independent
Expert and a further announcement will be made once the requisite opinion for the Independent
Expert is available in accordance with paragraph 10.7(c) of the JSE Listings Requirements.
Windhoek, Namibia
24 February 2020
Heleen Steyn
Acting Company Secretary: Trustco Group Holdings Limited
JSE Sponsor
Vunani Sponsors - Johannesburg
NSX Sponsor
Simonis Storm Securities Proprietary Limited - Namibia
OTCQX Sponsor
J. P Galda - New York
Date: 24-02-2020 09:30:00
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