TRUSTCO GROUP HOLDINGS LIMITED - Update: Trustco Entities' Specific Repurchases of Shares From a Related Party

Update: Trustco Entities' Specific Repurchases of Shares From a Related Party

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: TRUSTCO ENTITIES' SPECIFIC REPURCHASES OF SHARES FROM A
RELATED PARTY


1.   Introduction

1.1  Shareholders are referred to the announcement published on SENS dated 24 June 2024
     regarding Trustco Entities entering into a Share Repurchase Agreement with a Related
     Party ("the Transaction").

1.2 The terms referenced in the aforementioned announcement will apply.


2.   Addendum to the Agreement

2.1  The parties entered into an addendum to the Share Repurchase Agreement dated 29
     November 2024 (and signed on 3 December 2024 by the last party) in order to provide
     the parties with more time to obtain all the necessary approvals for the Transaction.

2.2   The terms to the Addendum included the following:


2.2.1 The Parties extended the date for completion of the Transaction to 28 February 2025;

2.2.2 The Parties agreed that accumulated interest will be charged on the Purchase Price
      from the 1st of December 2024 to the Closing at a rate of 3%; and

2.2.3 if the Related Party agrees to a further extension, interest will accrue at a rate of 5%
      from 1 March 2025 to the Closing.


The remainder of the Agreement remains unchanged.




Windhoek, Namibia,
5 December 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: 05-12-2024 05:29:00
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