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Update on Progress of the Publication of the Financial Statement and Renewal of Cautionary Announcement
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)
JSE share code: TTO
NSX share code: TUC
OTCQX share code: TSCHY
ISIN Number: NA000A0RF067
("Trustco" or "Company")
UPDATE ON PROGRESS OF THE PUBLICATION OF THE FINANCIAL STATEMENT
AND RENEWAL OF CAUTIONARY ANNOUNCEMENT
1. Introduction
1.1 Shareholders are referred to the announcements published on SENS dated 20 January
2025 and the subsequent updates to the announcement, concerning the Board of
Directors' decision to delist the Company from the Johannesburg Stock Exchange
("JSE"), the Namibian Stock Exchange ("NSX"), and the OTCQX Market in the United
States ("OTCQX").
1.2 The wording referenced in the aforementioned SENS announcements applies.
2. Renewal of Cautionary
2.1 Shareholders are advised that the JSE has informed the Company that the appointed
independent expert requires further relevant experience to be approved in respect of
the delisting. The JSE has further indicated that it would consider additional experience
being provided in support of the appointment, and the Company will engage with the
JSE in this regard. The Company is working towards the next steps related to the
delisting process and will provide further updates upon its completion.
2.2 Shareholders are advised to exercise caution when dealing in the Company's
securities until a full delisting announcement is made. Any questions can
be sent via email to the company secretary at komada@tgh.na.
3. Update on Contact Details of Shareholders
Shareholders are reminded to update their contact information through the Company's
dedicated shareholder contact form at https://www.tgh.na/shareholder-contact-form/ in
order to facilitate effective communication post-delisting.
4. Update on progress of the publication of the financial statements
Shareholders are referred to the announcements published on SENS on 7 July 2025
wherein Shareholders were updated on the progress of publishing the annual financial
statements for the period ended 31 August 2024, following the change in the Listings
Requirements on the appointment of auditors on 23 November 2023.
The Issuer has approached the independent Namibian audit regulator to obtain
approval for Trustco's Namibian auditors, together with the South African appointed
auditors, to audit and co-sign the audit report. The independent Namibian audit
Regulator confirmed that this was not possible, and the matter was referred back to
the JSE to obtain clarity on the way forward.
The component audits of the investee entities and subsidiaries are ongoing. Specific
timelines will be provided to the market as soon as practical to do so.
Windhoek, Namibia,
3 September 2025
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
Date: 03-09-2025 04:55:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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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.
