TRUSTCO GROUP HOLDINGS LIMITED - Short-Form Announcement: Unaudited Condensed Consolidated Interim Results For The Six-Month Period Ended 28 February

Short-Form Announcement: Unaudited Condensed Consolidated Interim Results For The Six-Month Period Ended 28 February

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”)


SHORT-FORM ANNOUNCEMENT: UNAUDITED CONDENSED CONSOLIDATED
INTERIM RESULTS FOR THE SIX-MONTH PERIOD ENDED 28 FEBRUARY 2023


Trustco herewith publishes its unaudited condensed consolidated interim results for the six
months ended 28 February 2023 (“2023 Interim Results”). Comparisons for purposes of
this announcement are made against Trustco’s restated results for the 6-month period
ended 28 February 2022 (“2022 Restated Interim Results”).


1.       Abridged Results

     •    Net Asset Value (“NAV”) for the 2023 Interim Results was NAD 1 584 million
          compared to the NAV of NAD 1 776 million in respect of the 2022 Restated Interim
          Results;
     •    Net Asset Value per share (“NAVPS”) for the 2023 Interim Results was 161 cents
          compared to the NAVPS of 180 cents in respect of the 2022 Restated Interim Results;
     •    Basic loss for 2023 Interim Results was NAD 250 million compared to the basic
          earnings of NAD 1 360 million in respect of the 2022 Restated Interim Results;
     •    Headline loss for 2023 Interim Results was NAD 250 million compared to the headline
          earnings of NAD 1 360 million in respect of the 2022 Restated Interim Results;





     •    The basic loss per share (“LPS”) for the 2023 Interim Results was (25.38) cents
          compared to the earnings per share (“EPS”) of 138.07 cents reported on in respect
          of the 2022 Restated Interim Results; and
     •    Headline loss per share (“HLPS”) for the 2023 Interim Results was (25.38) cents
          compared to the headline loss per share of (203.15) cents in respect of the 2022
          Restated Interim Results.
     •    No dividends have been declared for the 6 months ended 28 February 2023 which is
          unchanged from the dividends declared as per the Restated Results.


2.       Interim Results

         The Company wishes to inform shareholders that the full announcement in respect of
         the Interim Results has been published at:-
         https://senspdf.jse.co.za/documents/2023/jse/isse/tto/REV2023.pdf
         and on the Company's website at https://www.tgh.na/investors/results-centre/


3.       Statement of Compliance and Basis of Preparation

         This short-form announcement contains only a summary of the information in the full
         announcement and does not contain the full and complete details and is the
         responsibility of the directors.


         Please refer to the full announcement released on SENS for additional information. In
         addition, electronic copies of the full announcement may be requested and obtained,
         at no charge, during office hours from the company secretary at komada@tgh.na, or
         from the sponsor at sponsor@vunanicapital.co.za.


         The unaudited interim results have been prepared in accordance with the framework
         concepts and measurement and recognition criteria of IFRS and the results are
         presented in accordance with the requirements of IAS 34 Interim Financial Reporting.


         Any investment decisions by investors and/or shareholders should be based on
         consideration of the full announcement made on Trustco’s website.



    Windhoek, Namibia,

    31 May 2023


    Komada Holdings (Pty) Ltd

    Company Secretary and Investor Relations Services to Trustco Group Holdings
    Limited


    JSE Sponsor
    Vunani Sponsors – Johannesburg


    NSX Sponsor
    Simonis Storm Securities Proprietary Limited – Windhoek


    OTCQX Sponsor
    J.P Galda & Co – New York






Date: 31-05-2023 05:25:00
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