Trustco Finalises Elisenheim Take Over

TRUSTCO is finanlising the takeover of Elisenheim Property Development company, according to a filling on the Namibian Stock Exchange.

On 23 January, Trustco aised shareholders it had entered into an agreement with Philco

Twenty Two Proprietary, subject to the fulfilment of certain conditions precedent, in terms of which Trustco will acquire 100% of the issued share capital of Elisenheim for a purchase consideration of N$220 million.

“Shareholders are hereby informed that due to unforeseen circumstances the circular which is in the process of finalisation and printing will be posted on or before 23 May,” Trustco said in its latest filling.

Source : The Namibian