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TRUSTCO GROUP HOLDINGS LIMITED - Cautionary announcement

Release Date: 19/05/2016 15:43
Code(s): TTO     PDF:  
Wrap Text
Cautionary announcement

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”)


CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the circular sent to shareholders on 11 September 2015 regarding
the acquisition of Huso Investments (Pty) Limited (“Huso”) which was subject to the fulfilment of
certain outstanding conditions including shareholder approval (“the Huso Transaction”).

On 5 October 2015 shareholders were notified on SENS that shareholder approval was provided
in terms of the Huso Transaction and given details as to the outstanding conditions to be fulfilled
for purposes of closing the Huso Transaction.

While the Huso Transaction has not yet closed, the Company wishes to advise shareholders that
Huso has entered into advanced negotiations with a target company in Sierra Leone (“Target
Co”) relating to a potential partnership for a geo-economic evaluation, development and
exploration of a diamond exploration license as secured by the Target Co in June 2015. Should
Huso and the Target Co be satisfied with the outcome of an independent due diligence review,
they will use their best endeavours to negotiate and agree to a definitive agreement. The
outcome of the independent due diligence is expected within 15 (fifteen) business days.

Should the Huso Transaction close and if the partnership is successfully concluded it could have
an impact on the Company’s securities.

In the circumstances, shareholders are advised to exercise caution when trading in their Trustco
shares until a further announcement is made.

Furthermore, shareholders will be notified once the unfulfilled conditions of the Huso Transaction
have been fulfilled and the Huso Transaction has been finalised.


By order of the Board

Amanda Bruyns
Company Secretary: Trustco Group Holdings Limited – Windhoek


Namibia
19 May 2016

JSE Sponsor: Sasfin Capital (A division of Sasfin Bank Limited)

NSX Sponsor: IJG Securities (Pty) Ltd.

Date: 19/05/2016 03:43:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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