Cautionary Announcement on Settlement Talks With Major Lenders
Shareholders are referred to previous SENS announcements dated 1 September 2023 and 11 June 2024 and are advised that Trustco, represented by the Non-Executive Members of it’s Board, has commenced formal discussions with Next Capital Proprietary Limited (“Next”), a related-party lender and the investment vehicle of the Trustco Founding Family, and with a group of its European lenders. The discussions concern a possible negotiated settlement in respect of debt instruments held by Next with an unaudited aggregate balance of circa NAD5.437 billion (USD329.9 million) (“the Next Debt”), excluding amounts conditionally waived and circa NAD1.442 billion (USD87.5 million) held by the European lender group. READ MORE
