Controversial Namibian financial services, property and mining company Trustco is battling to keep its shares trading on the JSE after a probe found that its 2019 financial statements failed to comply with global accounting standards.
Trustco, which is headquartered in Windhoek, has refused to restate its financial results as directed by the JSE, which would have the effect of decreasing its profit for the 2019 financial year. It has argued that the JSE's Financial Reporting Investigation Panel was wrong to find it breached accounting standards and that the stock exchange cannot compel it to correct its financial results. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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