TRUSTCO GROUP HOLDINGS LIMITED - Update on Transactions and Withdrawal of Cautionary Announcement

Update on Transactions and Withdrawal 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 TRANSACTIONS AND WITHDRAWAL OF CAUTIONARY
ANNOUNCEMENT


Trustco Shareholders ("Shareholders") are referred to the cautionary announcements
released on SENS on 27 February 2024, and the renewals of such announcement, last dated
28 May 2024 regarding the Company's processes of concluding pivotal transactions with key
shareholders.

1.     Shareholders are further referred to the announcement released on SENS on 23 April
       2024 ("Update Announcement"), where it was advised that Trustco ("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") from RVF
       (the "Parties") through issuing new Trustco shares to the Seller (the "Transaction").

2.     Trustco has appointed the independent expert to perform the Fairness Opinion and
       the reporting accountant. Trustco further mandated the sponsor Vunani Capital (Pty)
       Ltd ("Vunani") to act as transaction sponsor on the transaction.

3.     Shareholders are advised that as per the Update Announcement, a circular containing
       full details of the category 1, Related Party Transaction, Specific Issue of Shares
       Transaction, a Fairness Opinion as well as a notice to convene a general meeting of
       Shareholders to consider and, if deemed fit, to pass with or without modification, the
       resolutions necessary to approve and implement the Transaction, will be made
       available to Shareholders in due course.

4.     With the conclusion of the Transaction, shareholders are advised that caution is no
       longer required to be exercised when dealing in the Company's securities regarding
       the Transactions in process.


Windhoek, Namibia,
11 July 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: 11-07-2024 02:35:00
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