JSE LIMITED - Enforcement of censure & penalties imposed against Trustco Group Holdings Ltd

Enforcement of censure & penalties imposed against Trustco Group Holdings Ltd  

GEN – General – Trustco Group Holdings Limited
Enforcement of censure and penalties imposed by the JSE on Trustco Group Holdings Limited (“Trustco”)


The JSE hereby informs stakeholders of the following findings in respect of Trustco:


1.     Stakeholders are referred to the SENS announcement dated 2 October 2025 wherein the JSE imposed a
       public censure and a fine against Trustco.


2.     In brief, and pursuant to its investigation, the JSE decided to impose the following penalties on Trustco:
              i.   A public censure; and
              ii. a fine of R5 000 000 (five million rand).


3.     These penalties were imposed because Trustco knowingly implemented a Category 1 transaction
       without obtaining the requisite shareholder approval as required by the Listings Requirements, thereby
       denying shareholders the opportunity to exercise their rights in relation to the transaction.


4.     Trustco disagreed with the JSE’s decision, and on 8 December 2025, Trustco applied, in terms of section
       230(1) of the Financial Sector Regulation Act ("FSRA"), to the Financial Services Tribunal ("FST") for the
       reconsideration of the JSE’s decision (the “Reconsideration Application”).


5.     The Reconsideration Application was heard on 14 August 2026. On 20 August 2026, the FST dismissed
       the Reconsideration Application, affirming the validity and enforceability of the censure and penalties
       imposed on Trustco by the JSE.


6.     In the circumstances, the JSE's decisions to impose a public censure and a fine of R5 000 000 (five million
       rand) on Trustco for contraventions of the Listings Requirements remain binding and fully enforceable.
       Trustco is immediately liable for the payment of the financial penalty imposed.


21 August 2026




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Date: 21/08/2026 10:30:00
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