{"id":41794,"date":"2023-03-25T17:47:17","date_gmt":"2023-03-25T17:47:17","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-resume-trading-on-jse-nsx"},"modified":"2023-03-25T18:24:49","modified_gmt":"2023-03-25T18:24:49","slug":"trustco-shares-resume-trading-on-jse-nsx","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-shares-resume-trading-on-jse-nsx","title":{"rendered":"Trustco shares resume trading on JSE, NSX"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>TRUSTCO Group Holdings Limited is back after a four-month suspension from three stock exchanges.<\/p>\n

The suspension of the trading of its shares on the Johannesburg Stock Exchange (JSE) and Namibian Stock Exchange was lifted yesterday, and shares opened at N$0,49 per share.<\/p>\n

This comes after the company corrected its financial statements and removed earlier reported errors that inflated profits by a combined N$2,1 billion.<\/p>\n

In a statement issued by the company yesterday, Quinton van Rooyen, the group’s chief executive, said he was pleased that the share trading has been reinstated.<\/p>\n

\u201cTrustco always strives for investing excellence, and looks forward to announcing even more exciting updates on our investment portfolios in the near future,\u201d he said.<\/p>\n

The group published its restated audited annual financial statements for the period ended 31 August 2022 on 28 February, on which the appointed independent auditors issued an unmodified audit report.<\/p>\n

The suspension was lifted on all three exchanges, JSE, NSX and OTCQX in the United States.<\/p>\n

The August 2022 financial statements show that Trustco made an operating loss of N$1,6 billion for the 2022 financial year, but in the end, it reported a N$1,4 billion profit.<\/p>\n

Trustco celebrated its 30th anniversary in August last year, and had an asset base of N$4,3 billion.<\/p>\n

According to a statement issued by the group’s spokesperson, Neville Basson, the Trustco board remains dedicated to positively cooperate with forward-thinking regulators that serve businesses, their clients, the public, and investors across all regions where Trustco invests.<\/p>\n

\u201cThis cooperation ensures that Trustco meets the highest standards and requirements not only of its regulators but also of its co-investors,\u201d he said.<\/p>\n

Basson said Trustco was taking measures, in consultation with its over 5 100 individual and institutional investors, to address any potential impact of the restatements in the financial statements.<\/p>\n

\u201cThe board is confident that these measures will ensure the growth in Trustco that investors have become accustomed to,\u201d he said.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. TRUSTCO Group Holdings Limited is back after a four-month suspension from three stock exchanges. The suspension of the trading of its shares on the Johannesburg Stock Exchange (JSE) and Namibian Stock Exchange was lifted yesterday, and shares opened at N$0,49 per share. This comes after the company corrected its financial statements and […]<\/p>\n","protected":false},"author":84,"featured_media":41793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-41794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nTrustco shares resume trading on JSE, NSX - Namibia<\/title>\n<meta name=\"description\" content=\"TRUSTCO Group Holdings Limited is back after a four-month suspension from three stock exchanges. 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