Trustco appoints committee to oversee JSE, NSX delistings
Looking elsewhere
Trustco intends to list on Nasdeq
Trustco Group Holdings Limited announced that its Board of Directors has established an independent committee to manage the proposed delisting from the Johannesburg Stock Exchange (JSE), Namibian Stock Exchange (NSX), and OTCQX Market in the United States. This follows Trustco’s earlier announcement evaluating the delisting in
preparation for its planned Nasdaq direct listing.
The newly formed committee comprises entirely of independent non-executive directors and is chaired by board chairperson, Advocate Raymond Heathcote, who will oversee all aspects of the delisting process. This includes coordinating with regulators, ensuring compliance with the JSE Listings Requirements and Namibian Company Law, facilitating shareholder engagement, and overseeing the preparation of a fairness opinion by an appointed independent expert.
The JSE accredited Independent Expert has been engaged to conduct the fairness opinion,
with the process already commenced.
“The appointment of an independent committee underscores Trustco’s commitment to transparency and equitable treatment of all shareholders during this pivotal transition,” said Quinton van Rooyen, CEO of Trustco Group Holdings.
“I have full confidence in the Board’s leadership and the expertise of the appointed committee members to execute this process effectively. Their collective experience and diligence will ensure that the delisting process meets the highest standards, addressing all regulatory requirements and safeguarding shareholder interests as we move towards our Nasdaq listing,” he added.
To ensure continuous and effective communication throughout the transition period between delisting and the planned Nasdaq listing, the Company requests all shareholders to update their contact information through the dedicated shareholder contact form at https://www.tgh.na/shareholder- contact-form/. This will enable Trustco to maintain direct communication channels with its shareholder base during the transition, Trustco said.
A comprehensive formal offer detailing the proposed delisting and the Nasdaq transition timeline will be distributed to shareholders in due course. Shareholders are advised to exercise caution when dealing in the Company's securities until a full announcement is made.
For any questions or further information, shareholders can send an email to the company secretary at [email protected].
preparation for its planned Nasdaq direct listing.
The newly formed committee comprises entirely of independent non-executive directors and is chaired by board chairperson, Advocate Raymond Heathcote, who will oversee all aspects of the delisting process. This includes coordinating with regulators, ensuring compliance with the JSE Listings Requirements and Namibian Company Law, facilitating shareholder engagement, and overseeing the preparation of a fairness opinion by an appointed independent expert.
The JSE accredited Independent Expert has been engaged to conduct the fairness opinion,
with the process already commenced.
“The appointment of an independent committee underscores Trustco’s commitment to transparency and equitable treatment of all shareholders during this pivotal transition,” said Quinton van Rooyen, CEO of Trustco Group Holdings.
“I have full confidence in the Board’s leadership and the expertise of the appointed committee members to execute this process effectively. Their collective experience and diligence will ensure that the delisting process meets the highest standards, addressing all regulatory requirements and safeguarding shareholder interests as we move towards our Nasdaq listing,” he added.
To ensure continuous and effective communication throughout the transition period between delisting and the planned Nasdaq listing, the Company requests all shareholders to update their contact information through the dedicated shareholder contact form at https://www.tgh.na/shareholder- contact-form/. This will enable Trustco to maintain direct communication channels with its shareholder base during the transition, Trustco said.
A comprehensive formal offer detailing the proposed delisting and the Nasdaq transition timeline will be distributed to shareholders in due course. Shareholders are advised to exercise caution when dealing in the Company's securities until a full announcement is made.
For any questions or further information, shareholders can send an email to the company secretary at [email protected].
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