TRUSTCO GROUP HOLDINGS LIMITED - Cautionary

Cautionary

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


Trustco shareholders (“Shareholders”) are referred to the circular dated 11 September 2015
regarding the acquisition by Trustco, through its subsidiary Trustco Resources Proprietary
Limited, of the entire shareholding in Huso Investments Proprietary Limited (“Huso”) which was
subject to the fulfilment of certain outstanding conditions including shareholder approval (“the
Huso Transaction”).

Shareholders were advised in the announcement published on 5 October 2015, that the requisite
Shareholder approval for the Huso Transaction had been obtained and details of the status of the
remaining conditions to the Huso Transaction were provided.

While the Huso Transaction has not yet closed, Shareholders are advised that the parties to the
Huso Transaction are currently in discussions to amend the terms of the settlement of the
consideration for the Huso Transaction to move away from subsequent payments being based on
future resources and rather issuing the remaining shares due and payable in terms of the
transaction based directly and wholly on earnings.

The discussions are expected to be concluded within two weeks from the date of this
announcement and Shareholders will be advised of the outcome of the discussions once
concluded. Furthermore, Shareholders will be advised once the outstanding conditions to the
Huso Transaction have been fulfilled.

The revised discussions regarding the Huso Transaction, if successfully concluded may have a
material effect on the price of the Company’s securities. Accordingly, Shareholders are advised to
exercise caution when dealing in the Company’s securities until a further announcement
regarding the Huso Transaction is made.

Windhoek
15 November 2016

By order of the Board

Amanda Bruyns
Company Secretary: Trustco Group Holdings Limited – Windhoek

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

NSX Sponsor: Simonis Storm Securities (Pty) Ltd.

Date: 15/11/2016 05:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.