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Title: TRUSTCO PLANS TO UPGRADE ADR PROGRAM TO ENHANCE PRESENCE IN US CAPITAL MARKETS

Windhoek, Khomas, Namibia, 8th Aug 2024 - Trustco Group Holdings Limited (Trustco) has announced plans to upgrade its American Depositary Receipts (ADR) program to Level 3, in order to expand its presence in the United States of America (US) capital markets. Trustco's ADR program began in 2014 as a Level 1 program through Bank of New York Mellon, and was enhanced in 2019 with a real-time Level 1 sponsored ADR program on the OTCQX Best Market.With this upgrade, the Company will have greater access to North American investors. Additionally, Level 3 ADRs can be listed on major US stock exchanges such as Nasdaq or the New York Stock Exchange (NYSE), providing higher visibility and further liquidity for Trustco's securities. This level of ADR can be freely traded by both retail and institutional investors in the US market. Quinton Z van Rooyen, Trustco's Deputy CEOQuinton Z van Rooyen, Trustco's Deputy CEO, elaborated on the strategic importance of this move: "This proposed upgrade to a Level 3 ADR program is not just about accessing capital; it's about positioning Trustco and Namibia on the global stage. We expect the upgraded ADR program to open doors to a larger pool of sophisticated investors. Young professional Namibians would be able to gain valuable Wall Street experience right here in Namibia, without needing to relocate to the US. It's a testament to our belief in the potential of African companies to compete on the world stage."To prepare for the upgrade, Trustco has assembled US-specific auditors, US securities counsel, IR specialists and approved international valuators. The Company plans to maintain its primary Johannesburg Stock Exchange (JSE) listing, as well as its Namibian Stock Exchange (NSX) and OTCQX listings. Current shareholders will have the optio...

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