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Update on Elisenheim acquisition circular
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")
TRANSACTION UPDATE ANNOUNCEMENT ON THE ELISENHEIM PROPERTY
DEVELOPMENT COMPANY (PTY) LTD (“ELISENHEIM”) ACQUISITION CIRCULAR
Shareholders are referred to the SENS announcement dated 23 January 2014, wherein
they were advised that Trustco, via its wholly owned subsidiary, Trustco Property
Holdings Proprietary Limited (“Trustprop”) had entered into an agreement with Philco
Twenty Two Proprietary Limited (“Philco”), subject to the fulfilment of certain conditions
precedent, in terms of which Trustco will acquire 100% of the issued share capital of
Elisenheim Property Development Company Proprietary Limited (“Elisenheim”) for a
purchase consideration of N$220 million (“the acquisition”).
Shareholders are further referred to the announcement dated 10 April 2014, wherein
they were advised that a circular relating to the acquisition by the company of
Elisenheim would be posted on 16 May 2014. Shareholders are hereby informed that
due to unforeseen circumstances the circular which is in the process of finalisation and
printing will be posted on or before 23 May 2014.
By order of the Board
DJ Steyn
Company Secretary
Windhoek,
16 May 2014
JSE Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
NSX Sponsor
IJG Securities (Pty) Ltd.
Date: 16/05/2014 02:58:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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