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Suspension of further implementation of the LSH 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: NA000A0RF067
("Trustco" or "the Company")
SUSPENSION OF FURTHER IMPLEMENTATION OF THE LSH TRANSACTION
Shareholders are referred to the circular and subsequent announcements regarding the LSH Sale
& Conversion Agreement ("the Transaction"), which were reviewed and approved by the
shareholders on 7 January 2025. As set out in those disclosures, the Transaction was structured
and approved on the explicit basis that it would not result in a change in control of the Company.
The Board has undertaken a regulatory alignment review to ensure that the ongoing implementation
of the Transaction remains fully consistent with the no-change-in-control framework approved by
the JSE and communicated and voted for by shareholders.
In light of current governance conditions and in order to ensure continued compliance with the JSE
Listings Requirements and the parameters under which the Transaction was approved, the Board
has resolved to temporarily suspend further implementation of the Transaction, including the
issuance of the remaining shares, pending completion of this regulatory alignment assessment.
This suspension does not affect the validity of the Transaction as approved at this stage, but is a
prudent and necessary step to ensure that implementation remains aligned with the conditions and
assumptions disclosed to shareholders and approved by the JSE.
A further announcement will be made once the regulatory alignment assessment has been
concluded.
Shareholders are advised to exercise caution when dealing in the Company's securities until a
further announcement is published.
By order of the board
Windhoek, Nambia
17 December 2025
Company Secretary and Investor Relations Services to Trustco Group Holdings Limited
Komada Holdings Proprietary Limited
JSE Sponsor
DEA-RU
NSX Sponsor
Simonis Storm Securities Proprietary Limited – Windhoek
OTCQX Sponsor
J.P. Galda & Co – New York
Date: 17-12-2025 08:00:00
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