TRUSTCO Group Holdings Ltd

Trustco board advisors vindicated by shareholder vote

Tujoromajo Kasuto TRUSTCO Group Holdings Ltd.’s minority shareholders have overwhelmingly endorsed and confirmed the board's accounting treatment and auditor's opinions on the group financial statements. This includes the loan forgiveness transactions of more than N$1.5 billion by Next Capital Ltd, Trustco’ s majority shareholder, in a non-binding advisory vote called by the Board of Directors. In the eyes of the minority shareholders, this vote effectively vindicates the actions of the board, the group auditors, and the independent accounting advisors. Minority shareholders were also asked to vote on whether Trustco should move its listing and, if necessary, delist for a period…
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