Africa-Press – Namibia. THE Johannesburg Stock Exchange (JSE) announced on Monday morning that it has suspended the trading of Trustco Holdings Group Limited shares with immediate effect.
According to the JSE, the suspension follows the dismissal of an application by Trustco in South Africa’s High Court on Monday. In the application, Trustco was seeking to block its suspension from the JSE.
Trustco and the JSE have been at each other’s throats over what the JSE said were inflated and incorrect financial statements, which the company has refused to amend.
“In light of the above, the JSE has suspended trading in the shares of Trustco with immediate effect,” said the JSE.
At home, the Bank of Namibia is also pushing to liquidate Trustco Bank over solvency issues.
This while Trustco remains adamant that its books are in order and there’s still much value its bank can deliver.
The regulators have, however, disagreed.
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According to the JSE, the suspension follows the dismissal of an application by Trustco in South Africa’s High Court on Monday. In the application, Trustco was seeking to block its suspension from the JSE.
Trustco and the JSE have been at each other’s throats over what the JSE said were inflated and incorrect financial statements, which the company has refused to amend.
“In light of the above, the JSE has suspended trading in the shares of Trustco with immediate effect,” said the JSE.
At home, the Bank of Namibia is also pushing to liquidate Trustco Bank over solvency issues.
This while Trustco remains adamant that its books are in order and there’s still much value its bank can deliver.
The regulators have, however, disagreed.
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