Chamwe Kaira
Trustco Group Holdings Limited has confirmed it is moving forward with its plan to delist from all its current trading platforms. These include the Johannesburg Stock Exchange (JSE), the Namibian Stock Exchange (NSX), and the OTCQX Market in the United States.
The company issued a renewed cautionary announcement, stating that it is completing the final steps of the delisting process. Trustco said it will provide further information once the process is complete. Shareholders are advised to continue exercising caution when trading in Trustco securities.
The group first announced its intention to delist in updates published on 20 January, 3 February, 10 March, and 25 April 2025. These notices explained the board’s decision and its rationale.
In January, Trustco said it was reviewing its listings on the JSE, NSX, and the U.S.-based OTCQX Market. It noted a major shift in its investor base, with many shareholders now based in the United States. Trustco said this change, along with its planned listing on Nasdaq, would allow it to better serve investors and enhance shareholder value.
As part of the delisting process, Trustco will appoint an independent expert to provide an updated fairness opinion, as required by JSE Listings Requirements.
The company also requested the immediate suspension of share trading. It said the suspension was due to several issues affecting the equal distribution of market information. Trustco stated that valuation methods and disclosure requirements vary across jurisdictions, with some information considered price-sensitive in one market but not in another. These differences impacted how the fairness opinion and shareholder engagement process were handled.
Trustco said the suspension was intended to protect shareholder value until the fairness opinion is completed and a formal announcement is made.
