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TRUSTCO GROUP HOLDINGS LIMITED - Update on Herboths Transaction

Release Date: 06/05/2020 16:22
Code(s): TTO     PDF:  
 
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Update on Herboths 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 “the Company”)

UPDATE ON THE HERBOTHS TRANSACTION

Shareholders are referred to the announcement released on SENS on 11 February 2020, in
respect of the disposal by Trustco Property Holdings (Proprietary) Limited of 100% of the
issued share capital of Herboths Property Development (Proprietary) Limited to Constantia
Risk and Insurance Holdings Limited (“Herboths Transaction”). The Herboths Transaction was
categorised as a category 2 related party transaction requiring a circular (“Circular”) to be
distributed to shareholders.

Shareholders are further referred to the announcement released on Sens on 2 April 2020
specifically, the addendum to the sale and subscription agreement (“Agreement“).
Shareholders are advised that a further addendum has been entered into extending the date
for the completion or waiver of all the Conditions Precedent as contained in the Agreement
to 31 May 2020.

Shareholders are further advised that the dates by which the respective suspensive conditions
relating to the Herboths Transaction are required to be fulfilled, will be extended by mutual
consent between the relevant parties as they fall due during this process.

6 May 2020


Komada Holdings (Pty) Ltd
Company Secretary
Trustco Group Holdings Limited

JSE Sponsor
Vunani Corporate Finance - Johannesburg

NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek

OTCQX Sponsor
J.P Galda & Co – New York

Date: 06-05-2020 04:22:00
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