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

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4 months ago

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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 CEO

Quinton 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 option to convert their existing ordinary shares into ADRs.

This announcement comes in tandem with Trustco’s recent agreement with Riskowitz Value Fund (RVF), a long-term US-based investor in Trustco. On April 16, 2024, Trustco entered into a non-exclusive agreement with RVF to invest up to USD 100 million of hybrid capital into the Company. Trustco will provide updates to shareholders as progress is made with the ADR upgrade process.

About Trustco:

Trustco Group Holdings Ltd is an investment entity headquartered in Windhoek, Namibia, whichmanages a diverse portfolio of investments spanning the insurance, real estate, commercial banking, micro-finance, education, and mining sectors. Decisions are biased towards generational investment performance alongside shareholder wealth creation, and short-termhurdles are viewed as catalysts for future growth.

Since inception in 1992, Trustco’s investment portfolio has delivered strong returns with a CAGR of 68.97%, with a well-balanced asset mix, with a current average weighting of 34% in US Dollar based assets, while the remaining 66% is invested in Namibia Dollar (1 NAD = 1 ZAR) based assets. Trustco enjoys the backing of a wide range of coinvestors, including 3 610 from Namibia, 1 443 from abroad, and 94 from institutional entities.

About Namibia:

Namibia is a Southern African country with a population of approximately three million and a GDP per capita of USD 5 031 in 2022. The country is endowed with rich natural resources, with recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for technology demand globally, with developments also underway in its green hydrogen projects.The Namibian government has heralded these discoveries as a transformative period, holding the potential to double the nation’s GDP by 2040.

The country’s economy expanded by 4.2% in 2023 and is projected to expand by 3.7% in 2024, following a recovery of 5.3% in 2022 from the COVID-19 pandemic. With its wealth of natural resources, pro-business environment, political stability and increasingly skilled workforce, Namibia offers attractive investment prospects across all sectors.

Forward-Looking Statements:

All statements made in this media release with respect to Trustco’s current plans, estimates, strategies beliefs and other statements that are not historical facts, including statements regarding Trustco’s plans to upgrade its ADR program and the results of such an upgrade, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

Media Contact

Organization: Trustco Group Holdings

Contact Person: Neville Basson

Website: https://www.tgh.na

Email: Send Email

Contact Number: +264612754501

Address: 2 Keller Street, Trustco House

Address 2: Windhoek

City: Windhoek

State: Khomas

Country: Namibia

Release Id: 08082415430

The post TRUSTCO PLANS TO UPGRADE ADR PROGRAM TO ENHANCE PRESENCE IN US CAPITAL MARKETS appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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The 2024 Chery Group Automotive Design Competition Concludes Successfully: A Journey Bridging Design and the Future

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2 hours ago

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November 28, 2024

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November 4, 2024, the Chery Global Design Center in Wuhu hosted the award ceremony for the 2024 Chery Group Automotive Design Competition. This grand event not only brought together top automotive design talents from around the world but also became a focal point for design enthusiasts, industry experts, and media professionals. As the competition’s exclusive partner, OPSH（OnePen ShangHai)was fully involved, witnessing this remarkable celebration of technology, art, and futuristic imagination.

2024-11-20 22:38:06.836000

As Chery Group’s first-ever global automotive design competition, this event attracted worldwide attention with its high level of internationalization and openness. Within just a month, through campus roadshows at universities both domestically and internationally, along with OPSH（OnePen ShangHai)-hosted offline engagement activities, the competition drew over 300 participants from 22 countries, with international students accounting for 50% of the contestants. Spanning Asia, Europe, North America, and Australia, the competition featured participants from 11 prestigious design schools, including China Academy of Art, Luxun Academy of Fine Arts, Hubei Institute of Fine Arts, Tongji University, Chung-Ang University, Yeungnam University, Coventry University, Kyonggi University, and others. This comprehensive participation highlighted the global reach of the event, fostering dialogue among cultures through design and showcasing the diversity and innovation of future mobility.

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On the day of the award ceremony, the Chery Global Design Center was transformed into a space where art and technology converged. The unveiling of concept cars and high-fidelity scale models presented a visual feast that combined design aesthetics with technological prowess. The event showcased not only the winning entries but also offered interactive sessions for media and audiences to experience the unique charm of each creation, from design concepts to tangible outputs.

“These entries are more than just sketches or models—they are profound reflections on the future of mobility,” remarked the head of the Chery Automotive Design Center during the ceremony. “From supercars to lunar rovers, flying vehicles to micro-electric cars, each work demonstrates how designers break boundaries with creativity, ingeniously merging technology, aesthetics, and human needs.”

Among the many exceptional submissions, the innovative ideas from rising global design stars stood out. Highlights of the winning entries include:

First Prize:

– Sungjun Park / Chung-Ang University  

Second Prize: 

– Liu Haoyang/ China Academy of Art  

– Junwan Woo/ Yeungnam University  

Third Prize:  

– Feng Yongqi/ Hubei Institute of Fine Arts  

– Hu Zhanpeng/ Tongji University  

– Liu Yunfeng/ Luxun Academy of Fine Arts  

Excellent Design Awards:

– Joongha Min/ Coventry University  

– Yongkyun Lee/ Kyonggi University  

In addition, during the 2024 Guangzhou International Auto Show, several of these award-winning models were displayed at the Chery Group booth in Hall 4.2, offering visitors an up-close view of the cutting-edge concepts and inspiring future possibilities.

2024-11-20 22:38:38.576000

The 2024 Chery Group Automotive Design Competition was not only a platform to showcase creativity but also an important catalyst for industry inspiration. The participation of students from 11 top universities, spanning China and the world, such as the Central Academy of Fine Arts, Nanjing University of the Arts, and the Royal College of Art, added tremendous value to the competition. From its international lineup of participants to designs that embraced future technologies and sustainability, Chery conveyed its profound understanding and boundless imagination for future mobility through this competition. “This is not just a competition; it’s a starting point,” summarized a Chery Group representative. “We hope to inspire more young talents to bring their dreams and creativity to automotive design, providing breakthrough solutions for the future of transportation.”

Amid applause and cheers, the competition concluded successfully. Yet, this is not the end—it is an invitation to the future. Chery Group plans to expand the competition’s scale, welcoming more emerging design talents from around the globe to this innovative stage. Chery eagerly anticipates another year of vibrant and diverse design works, painting a richer picture for the future of automotive design.

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Press Release

Discover Unmatched Elegance: Luxury Nile River Cruises with Expert Egyptologists

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2 hours ago

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November 28, 2024

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Unveiling the Ultimate Nile Cruise Experience

Embark on an unforgettable journey through the heart of Egypt with Nile Cruise Ship, the premier provider of luxury Nile River cruises. Offering a seamless blend of comfort, culture, and exploration, our cruises redefine the art of travel along the majestic Nile River. Whether you’re seeking an exclusive private Nile cruise or one of the best Nile cruise ships, we promise a voyage filled with adventure and elegance.

The Allure of a 5-Star Nile River Cruise

Our 5-star Nile River cruise vessels are designed to immerse you in unparalleled luxury. From opulent accommodations to world-class dining and attentive service, every detail of your journey is crafted for your utmost comfort. Each room onboard features modern amenities and elegant décor, ensuring a restful retreat after a day of discovery.

Discover Ancient Wonders with Expert Guidance

A luxury Nile cruise is more than just a vacation; it’s a cultural immersion. With our team of seasoned Egyptologists, every excursion transforms into an enlightening adventure. Whether you’re marveling at the Great Temples of Luxor, exploring the Valley of the Kings, or strolling through the awe-inspiring Karnak Temple, our experts bring the ancient sites to life with extensive knowledge and engaging storytelling.

Tailored Excursions for Every Traveler

At Nile Cruise Ship, we understand that no two travelers are alike. That’s why we offer tailored excursions as part of our carefully designed Nile cruise packages. Whether you’re a history enthusiast eager to delve into Egypt’s fascinating past or a leisure traveler seeking relaxation by the riverbank, we craft itineraries that match your interests.

Why Choose Nile Cruise Ship?

  • Luxury Accommodations: Enjoy the serenity of your surroundings while traveling in style aboard our luxury Nile River cruise vessels.
  • Expert Guidance: Explore ancient treasures with unparalleled insights from expert Egyptologists.
  • Personalized Service: Experience a journey designed to cater to your every need, making it unique.

Our reputation as a leader in luxury Nile cruise experiences is built on years of providing discerning travelers with exceptional service and unforgettable memories.

Nile River Cruise Packages for Every Traveler

From romantic private Nile cruises for couples to enriching family-friendly itineraries, our Nile cruise packages cater to a wide array of travelers. Each package is carefully curated to combine relaxation with exploration, offering the perfect balance of leisure and adventure.

Dive into the Nile Cruise Blog

Looking for travel tips or more insights into the best Nile cruise packages? Visit our Nile cruise blog for inspiration and practical advice. Whether you’re planning your first trip or looking to enhance your next Nile River cruise luxury experience, our blog is your ultimate guide to exploring Egypt’s treasures.

Start Your Journey Today

There’s no better way to explore Egypt’s ancient wonders than aboard one of the best Nile cruise ships. Let best Nile Cruise Ship take you on an unforgettable adventure where luxury meets history. Book your luxury Nile river cruise today and discover the magic of the Nile like never before!

Experience Egypt. Discover the Nile. Redefine travel.

Media Contact:

Nile Cruise Ship

Website: https://nilecruiseship.com 

Phone: +20 2 23504930

Email: booking@nilecruiseship.com

Address: 81 Abu Daoud, el Zahery, Nasr City, Cairo Governorate 11856,

Egypt

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Press Release

Santa Coin Ushers in the 2024 Yuletide Season with Festive Promotions and a Legacy of Generosity

Published

2 hours ago

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November 28, 2024

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Santa Coin, the festive-themed cryptocurrency renowned for its spirit of giving, is delighted to announce a series of engaging promotional activities for the 2024 holiday season. Since its inception in October 2021, Santa Coin has distributed over $5 million in rewards to its holders, solidifying its position as a leader in merging generosity with innovation in the cryptocurrency space. 

A Legacy of Festive Generosity 

Launched in October 2021, Santa Coin was conceived to infuse the holiday spirit into the digital currency realm. Over the past three years, it has built a robust community of enthusiasts and has rewarded its holders with over $5 million, exemplifying its commitment to generosity and community engagement. 

Innovative Features 

Santa Coin distinguishes itself with several unique features: 

• SantaGPT: An AI-driven tool that generates festive content and provides market insights, enhancing user engagement and information dissemination. • AI-Powered Image Generator: Allows users to create captivating memes and graphics, fostering creativity within the community. 

• Commitment to Sustainability and Philanthropy: A portion of Santa Coin’s tokenomics is dedicated to supporting charitable organizations and environmental initiatives, reflecting its dedication to positive global impact. • 

2024 Yuletide Promotions 

In celebration of the upcoming holiday season, Santa Coin is launching a series of initiatives to engage its community and attract new enthusiasts: 

1. Widespread Press Coverage: Collaborations with major cryptocurrency news platforms to highlight Santa Coin’s unique features, ongoing developments, and holiday campaigns, ensuring prominent visibility during the festive period. 

2. Community Engagement Through Social Media: Activation of raiding teams to invigorate discussions on platforms like X (formerly Twitter) and Telegram, sharing updates, addressing inquiries, and nurturing a vibrant community spirit. 

3. Premium Advertising Placements: Securing strategic visibility through premium ad placements on the Moralis Crypto Ads Marketplace, ensuring prominent exposure to a broader audience of crypto enthusiasts. 

4. Trading Competition with a $10,000 Prize Pool: Hosting a trading competition with a generous $10,000 USDT prize pool, offering participants the opportunity to showcase their trading skills and earn substantial rewards. 

5. Holiday Meme Contest Offering $5,000 in Prizes: Organizing a Christmas themed meme contest with a total prize pool of $5,000, encouraging community creativity and the spread of festive joy.

Through these initiatives, Santa Coin continues to embody its core mission of giving back while fostering unity among its global community. The 2024 yuletide season promises to be the most vibrant yet for Santa Coin supporters. 

About Santa Coin 

Santa Coin is a festive-themed cryptocurrency that integrates the joy of the holiday season with innovative blockchain technology. With features like SantaGPT and a commitment to philanthropy, Santa Coin offers a unique and rewarding experience for its holders. 

For more information about Santa Coin and its holiday promotions, please visit the official website at https://santacoin.io/. 

Follow Santa Coin on Social Media: 

• Website: https://santacoin.io/ 

• SantaGPT: https://santagpt.ai/ 

• Twitter: https://twitter.com/Santa_Coins 

• Telegram Group: https://t.me/santacoingroup 

• Telegram Channel: https://t.me/santanewsofficial 

• Medium: https://medium.com/@santa.coin 

Media Contact: 

Crypto Santa, Lead Developer 

Contact Information: Telegram – @crypto_santa001 

Disclaimer: This press release is for informational purposes only. Cryptocurrency investments carry risk; please conduct thorough research before participating.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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