Staff Writer
Trustco Group Holdings Limited has issued a quarterly update to shareholders on matters linked to the suspension of its shares, outlining progress on its audit process and engagements with regulators.
The group referred shareholders to its announcement of 15 October 2025, in which it confirmed that the Johannesburg Stock Exchange (JSE) had indicated it had no objection to Trustco appointing two separate audit firms.
Under this arrangement, a South African audit firm will work alongside the already appointed associated Namibian audit firm to audit the group’s annual financial statements.
Trustco said this approach will result in two separate audit opinions, each signed by the respective audit firms.
Following requests from its auditors, the company submitted an application to the JSE seeking a formal ruling to clarify the proposed audit sign-off process and to confirm that the auditors’ engagement complies with the JSE Listings Requirements.
Trustco said shareholders will be informed once the outcome of the ruling is known.
The group also noted that the Namibian audit process remains ongoing at both subsidiary and investee company levels.
Based on current projections, Trustco said the annual financial statements for the year ended 31 August 2024 are expected to be finalised during the first quarter of 2026, subject to a favourable ruling from the JSE.
Caption
Quinton Van Rooyen, executive director of Trustco Group. The group plans to issue two separate audit opinions, each signed by the respective audit firms.
- Photo: Contributed
