TRUSTCO GROUP HOLDINGS LIMITED - Short-Form Announcement: Audited Consolidated Interim Results for the 12 Months Ended 31 March 2020.

Short-Form Announcement:  Audited Consolidated Interim Results for the 12 Months Ended 31 March 2020.

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 Group”)

Short-Form Announcement: Audited Consolidated Interim Results for the 12 Months Ended 31
March 2020.

1.       Highlights

     •    An increase in headline earnings by 23% to NAD 679 million compared to the headline
          earnings of the 31 March 2019 Restated Results of NAD 550 million; and
     •    An increase in basic earnings by 20% to NAD 669 million compared to the earnings of the 31
          March 2019 Restated Results of NAD 559 million.
     •    Revenue decreased by 69% to NAD 455 million compared to revenue of the 31 March 2019
          Restated Results of NAD 1 450 million.
     •    Operating profit increased by 37% to NAD 706 million compared to operating profit of the 31
          March 2019 Restated Results of NAD 515 million.
     •    Headline earnings per share (“HEPS”) decreased by 11% to 56.84 cents compared to HEPS of
          the 31 March 2019 Restated Results of 64.21 cents.
     •    Earnings per share (“EPS”) decreased by 14% to 56 cents compared to EPS of the 31 March
          2019 Restated Results of 65.21 cents.

2.       Interim results

         Shareholders are referred to the announcement released on SENS on 31 March 2020 regarding
         the change in Trustco's year-end from 31 March 2020 to 30 September 2020 and the
     requirement by the JSE that Trustco publishes audited interim results for the 12 months ended
     31 March 2020 as a result of the change in year-end.

     The Company's JSE Accredited auditors, in South Africa, have completed their audit. In this
     regard, the Company wishes to inform shareholders that the full announcement in respect of
     the audited consolidated interim results for the twelve months ended 31 March 2020
     ("Audited 2020 Interim Results") have been published at
     https://senspdf.jse.co.za/documents/2020/jse/isse/tto/int2020.pdf and on the Company's
     website at https://www.tgh.na/investors/results-centre/
     Copies of the full announcement in respect of the Audited 2020 Interim Results may also be
     requested from the company secretary at komada@tgh.na and the sponsors, being Vunani
     Sponsors at sponsor@vunanicapital.co.za. These will be sent electronically upon request.

     The Audited 2020 Interim Results have been audited by Nexia SAB&T, who expressed an
     unmodified audit opinion, containing certain Key Audit Matters. The audit opinion also included
     an Emphasis of Matter paragraph related to the JSE Limited proactive monitoring process.

     This short-form announcement is the responsibility of the board of directors. This
     announcement is a summary of the information in the full announcement and does not contain
     full or complete details. Any investment decision by investors and/or shareholders should be
     based on consideration of the full announcement which has been released on SENS and
     available for viewing on the Company's website. The following reports are available at
     https://www.tgh.na/investors/results-centre/ : i) the directors report, ii) an unmodified audit
     report and iii) the independent IFRS advisors report.

Windhoek, Namibia,
2 November 2020

Komada Holdings (Pty) Ltd
Company Secretary and Investor Relations Services to Trustco Group Holdings Limited

JSE Sponsor
Vunani Sponsors - Johannesburg

NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek

OTCQX Sponsor
J.P Galda & Co – New York

Date: 02-11-2020 05:40:00
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