TRUSTCO GROUP HOLDINGS LIMITED - Further Update Regarding The Disposal By Trustco Of Up To 20% (Twenty Percent) Of Legal Shield Holdings

Further Update Regarding The Disposal By Trustco Of Up To 20% (Twenty Percent) Of Legal Shield Holdings

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
(“Trustco”, or “the Company”)

FURTHER UPDATE REGARDING THE DISPOSAL BY TRUSTCO OF UP TO 20% (TWENTY PERCENT) OF
LEGAL SHIELD HOLDINGS (PROPRIETARY) LIMITED (“LEGAL SHIELD HOLDINGS”)

1.    INTRODUCTION

      Trustco shareholders (“Shareholders”) are referred to the announcement published on SENS
      on 24 November 2017 wherein they were advised that Trustco and Riskowitz Value Fund LP
      (“Purchaser”) had entered into a sale of share agreement (“Agreement”) in terms of which
      Trustco will dispose of 20% of the issued share capital of Legal Shield Holdings, a wholly-
      owned subsidiary of Trustco for R1.2 billion (“Transaction”) and the more recent update
      announcement dated regarding the completion of the due diligence process dated 1 February
      2018.

2.    EXTENSION OF DATE FOR THE FULFILMENT OF THE SUSPENSIVE CONDITIONS OF THE
      TRANSACTION

      On 13 February 2018, the Company, Legal Shield Holdings and the Purchaser agreed to
      amend the Agreement by extending the date by which all suspensive conditions to the
      Transaction must be fulfilled to 30 April 2018 (previously 31 March 2018).

3.    CIRCULAR

      As the Transaction is a Category 2, related party transaction requiring the approval of
      Shareholders in general meeting, the Company expects to despatch a circular to Shareholders
      regarding the Transaction by no later than 31 March 2018.



Windhoek, Namibia
14 February 2018



Amanda Bruyns
Company Secretary: Trustco Group Holdings Limited

JSE Sponsor
Sasfin Capital Proprietary Limited (a member of the Sasfin group)
NSX Sponsor
Simonis Storm Securities Proprietary Limited

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