TRUSTCO GROUP HOLDINGS LIMITED - Update on Approval Process for Legal Shield Holdings Limited Acquisition Transaction

Update on Approval Process for Legal Shield Holdings Limited Acquisition 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)
JSE share code: TTO
NSX share code: TUC
OTCQX share code: TSCHY
ISIN Number: NA000A0RF067
("Trustco" or "Company")


UPDATE ON APPROVAL PROCESS FOR LEGAL SHIELD HOLDINGS LIMITED
ACQUISITION TRANSACTION



1.   Introduction

1.1  Shareholders are referred to the Terms Announcement dated 23 April 2024 in respect
     of the transaction in which Trustco Group Holdings Limited ("the Purchaser") has entered
     into an agreement with Riskowitz Value Fund LP (the "Seller" or "RVF") to acquire 1,135
     shares in Legal Shield Holdings Limited. ("Sale Shares") (the "Parties") Payment would
     be effected through the issuing of new Trustco shares to the Seller (the "Transaction").
     The conclusion of the Transaction would increase Trustco's interest in LSH to 91.35%.

1.2  The wording referenced in the aforementioned SENS announcement would apply.


2.   Addendum to the Agreement

2.1  The Parties entered into addendums to the Agreement in terms whereof the Long
     Stop Date for the fulfilment of the suspensive conditions was extended to 31
     December 2024.


2.2  The Addendum further amended the agreement by removing the Put and Call Option
     provided for in the Agreement in its entirety.


3.   Update on the progress of the Circular and Notice of General Meeting to
     Shareholders


3.1  Trustco submitted the circular containing details of the Transaction to the JSE for
     review.


3.2  The full details of the Transaction, as announced, will be made available to
     Shareholders at the time of posting of the circular.


Windhoek, Namibia,
14 October 2024

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: 14-10-2024 11:46:00
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