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TRUSTCO GROUP HOLDINGS LIMITED - Disposal of Treasury Shares held by the Company

Release Date: 16/07/2015 16:08
Code(s): TTO     PDF:  
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Disposal of Treasury Shares held by the Company

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”)

DISPOSAL OF TREASURY SHARES HELD BY THE COMPANY

In terms of a dispensation obtained from the Issuer Regulation Division of JSE Limited, the
Company has disposed of treasury shares in the open market in order to meet the prudential
requirements pertaining to the investment spread applicable to it in terms of the Long-Term
Insurance Act and Regulations (“Disposal”). Paragraph 5.75 of the JSE Limited Listings
Requirements (“Listings Requirements”) states that “Whenever an issuer wishes to use
treasury shares, such use must comply with the Listings Requirements as if such use was a
fresh issue of securities.” The Disposal was therefore conducted in terms of the general
authority to issue shares for cash approved by shareholders at the annual general meeting
held on 24 September 2014.

In compliance with paragraph 11.22 of the Listings Requirements, shareholders are advised
that 76 958 397 (9.97% of total shares in issue) treasury shares were sold in the open
market over the period commencing on 18 March 2015 and ending on 15 July 2015 at an
average discount of 1.0484% to the weighted average traded price of the equity securities
over the 30 business days prior to the date of each sale.

It is intended that the funds realised from the Disposal will be utilised for operations in the
Company’s Banking Segment.


Windhoek
16 July 2015

Company Secretary
Sandra Miller

JSE Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

NSX Sponsor
IJG Securities (Pty) Ltd.

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