Protea Asset Management LLC

Value investor in select markets. Not investment advice.

[Protea Asset Management LLC @ProteaAssetMgmt]

Calgro M3 Holdings. Interesting opportunity. Not investment advice.

[Protea Asset Management LLC @ProteaAssetMgmt]

Riskowitz Value Fund responds to Trustco's court order

"Calling shareholder meetings and voting on who sits on the board are ordinary shareholder rights. Who sits on Trustco's board should be decided by its shareholders."

Full statement: https://t.co/35wMV4D91e

[Protea Asset Management LLC @ProteaAssetMgmt]

Getting Trustco out of limbo

https://t.co/59bPXvPWMR

[Protea Asset Management LLC @ProteaAssetMgmt]

Just another governance failure by the board of Trustco Group Holdings. In this case, they "knowingly" circumvented JSE regulations. Will the JSE take action?

https://t.co/ogaLgXth4U

[Protea Asset Management LLC @ProteaAssetMgmt]

https://t.co/5WtgZHXzLb

[Protea Asset Management LLC @ProteaAssetMgmt]

Riskowitz Capital Management LLC, owner of 10.35% of Trustco, was not allowed to vote at the Trustco meeting.
Riskowitz Value Fund LP, owner of 24.10% of Trustco, was not allowed to vote. Germinate (SL) Ltd, owner of 7.16% of Trustco, was not allowed to vote.

[JSE_SENS @JSE_SENS]

JSER TTO TUCNM Enforcement of censure & penalties imposed against Trustco Group Holdings Ltd https://t.co/Fzfhat63ut

[Protea Asset Management LLC @ProteaAssetMgmt]

@StevevB8 @Valu3plus There was no voting, as Chairman Adv Heathcote declined to allow shareholders to vote, for the second time.

[Protea Asset Management LLC @ProteaAssetMgmt]

@Valu3plus Trustco unlawfully excluded every shareholder who did not appear on the register in their own name. If you held shares through a nominee (such as Standard Bank), too bad for you.

[Protea Asset Management LLC @ProteaAssetMgmt]

@JSE_Invest @EugeneChemaly vote was also not counted because the Trustco company secretary "never received it".

[Protea Asset Management LLC @ProteaAssetMgmt]

Disappointed with the @NotreDame whose voting decision today allows the corporate governance failures at Trustco to continue. For an institution of such high moral and ethical standards, doing what's right should come naturally.

[Protea Asset Management LLC @ProteaAssetMgmt]

https://t.co/dWFQrGcPbd

[Protea Asset Management LLC @ProteaAssetMgmt]

An Open Letter on Trustco's Future

There is a basic principle at stake: Trustco belongs to its shareholders. Directors are appointed to serve the company; the company does not belong to its directors.. https://t.co/fPhkSr3XEh

[Protea Asset Management LLC @ProteaAssetMgmt]

Trustco General Meeting on 18 August 2026 to vote on board reconfiguration. Shareholders should send their proxy and Letter of Representation to [email protected] by 09:00 on Friday, 14 August 2026. Proxy form here: https://t.co/8Us8CnxbrO

[Junior Smith @JuniorBuffett]

"I’m not sure how the group backs up that statement, with Pattison’s photo showing quite the opposite. What’s more, a verification report from Sentio Consulting confirms that 43.75% of eligible votes were for removing the current Trustco directors and that 42.96% voted against it, with about 10.7% abstaining. Roughly the same percentage voted for appointing new directors"

@ProteaAssetMgmt

MARC HASENFUSS: Getting the full picture https://t.co/wcAkkUfFAo

[Protea Asset Management LLC @ProteaAssetMgmt]

At the shareholder meeting of Trustco Group Holdings Limited, a majority supported the reconstitution of the board. However, chairman Raymond Heathcote declined to proceed to a vote.

Full statement: https://t.co/X8wRYkeAj5