TRUSTCO GROUP HOLDINGS LIMITED - Cautionary Announcement: Resources Transaction

Cautionary Announcement: Resources Transaction

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 “Company”)


CAUTIONARY ANNOUNCEMENT: RESOURCES TRANSACTION


Trustco shareholders (“Shareholders”) are referred to the announcement published on
SENS on 4 August 2022 relating to the Term Sheet in terms wherein Trustco Resources
(Mauritius) (“Trustco Resources”) a 100% owned subsidiary of Trustco Resources
(Proprietary) Limited and Meya a 65% owned subsidiary of Trustco Resources, Germinate
(SL) Limited (“Germinate”) a 35% shareholder of Meya and SJSL (“the Parties”) entered
into a term sheet (“Original Term Sheet”) in terms of which SJSL shall subscribe for such
number of shares (“Subscription Shares”) in Meya that it shall have an option to become
up to a 70% shareholder in Meya for a maximum subscription amount of USD 50 million
(“the Transaction”).


Subsequently the parties, together with an international investment fund entered into
discussions to conclude a transaction whereby the parties would increase their investment
(through a combination of third-party funding and shareholder funding) to fully capitalise the
asset.



Shareholders are advised that it is envisaged that the Definitive Agreements would be
concluded at the end of December 2022 and would remain subject to relevant due diligence
and the necessary board and regulatory approvals.


Trustco believes the Transaction, if successfully concluded, will have a material effect on
the price of the Company’s securities, once the suspension has been lifted.


Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s
securities until a further announcement regarding the Transaction is made. Any enquiries
can be sent via email to the company secretary at komada@tgh.na.



Windhoek, Namibia,
15 November 2022


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


JSE Sponsor
Vunani Sponsors


NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek


OTCQX Sponsor
J.P Galda & Co – New York




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Date: 15-11-2022 02:15:00
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