Staff Writer
Trustco Group Holdings Limited has advised shareholders to continue exercising caution when trading in the company’s securities as it progresses with its planned delisting from the Johannesburg Stock Exchange (JSE) and Namibia Securities Exchange (NSX).
In a cautionary announcement issued on Tuesday, Trustco said shareholders should remain cautious until a full delisting announcement is made.
The company referred shareholders to previous announcements published through the Stock Exchange News Service (SENS), including its most recent announcement dated 29 June 2026, regarding the proposed delisting.
Trustco has been pursuing plans to delist from its JSE primary listing, NSX secondary listing and OTCQX Market listing in preparation for a planned Nasdaq listing in the United States.
The company first announced in January 2025 that its board was evaluating options to delist from the three exchanges.
At the time, Trustco said the move was driven partly by a shift in its investor base, with a significant portion of its shareholders now based in the United States.
Chief executive Quinton van Rooyen said the proposed Nasdaq listing was intended to better serve the company’s changing investor base and enhance shareholder value.
The delisting process requires the appointment of an independent expert to provide an updated fairness opinion in accordance with JSE Listings Requirements.
Trustco had also requested the suspension of trading in its shares, citing concerns around information symmetry while it engaged with the JSE and other regulators.
The company said it was simultaneously undergoing audits in Namibia, South Africa and the United States, including a Public Company Accounting Oversight Board (PCAOB) audit required for its Nasdaq plans.
According to Trustco, differences in regulatory, valuation and reporting requirements across the three jurisdictions have created challenges in managing information that may be price-sensitive in one market but have different relevance in another.
The company said the suspension was intended to protect shareholder value while the independent fairness opinion was being completed and before the formal delisting proposal was announced.
Trustco said the eventual formal offer would provide shareholders with details of the proposed delisting, including the impact on previously announced transactions and corporate actions, the planned Nasdaq direct listing announced in November 2024, and other information required under applicable JSE Listings Requirements and Namibian company law.
