TRUSTCO GROUP HOLDINGS LIMITED - Update regarding the Specific Repurchase

Update regarding the Specific Repurchase

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”)

UPDATE REGARDING THE SPECIFIC REPURCHASE

1.   INTRODUCTION

     Trustco shareholders (“Shareholders”) are referred to the circular distributed to Shareholders on
     12 January 2017 (and using the terms defined therein for the purposes of this announcement unless
     otherwise stated) detailing the Specific Repurchase of the Repurchase Shares held by Buckley Partners
     and Buckley Advisors as well as the announcement published on the SENS on 14 February 2017 wherein
     Shareholders were advised that the resolutions necessary to effect the Specific Repurchase had been
     passed.

2.   SPECIFIC REPURCHARE

     In terms of the Specific Repurchase, Trustco or a nominated Subsidiary, will acquire the Repurchase
     Shares for the Repurchase Consideration which will be transferred on or before 31 January 2018.

     As outlined in the Specific Repurchase Circular, the Repurchase Consideration was agreed to as a price of
     NAD4.80 per Share, irrespective of the trading price on the JSE or NSX resulting in a total purchase
     consideration of NAD200 672 534.40.

     The Specific Repurchase was voted on at a general meeting of the Shareholders on 14 February 2017
     where it was approved by 98.53% of the shares voted (“Shareholder Approval”).

3.   CONCLUSION OF SPECIFIC REPURCHASE

     Trustco is pleased to advise Shareholders that Legal Shield Holdings Proprietary Limited (“Legal Shield
     Holdings”), being the nominated subsidiary of Trustco, has purchased the Repurchase Shares from the
     Repurchase Sellers at a price of NAD4.80 per Share for an aggregate consideration of NAD200 672 534.40
     on 24 January 2018 (“Transfer Date”). These Shares will be held as treasury shares by Legal Shield
     Holdings.


Windhoek, Namibia

24 January 2018

Amanda Bruyns
Company Secretary
Trustco Group Holdings Limited

JSE Transaction Sponsor
Sasfin Capital Proprietary Limited (a member of the Sasfin group)

NSX Sponsor
Simonis Storm Securities (Pty) Ltd

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