
Trustco’s debt to Namibia’s Van Rooyen family rises to $280 million
Trustco Group’s debt to Next Capital hit $280 million, boosting the Van Rooyen family’s financial control.
Trustco Group’s debt to Next Capital hit $280 million, boosting the Van Rooyen family’s financial control.
The move comes after Trustco revealed that it is considering delisting from the Johannesburg Stock Exchange as part of its plan to pursue a direct listing on Nasdaq.
The new shares were allocated to Riskowitz Value Fund on Jan. 21, 2025, marking the first tranche of the acquisition.
Trustco Group considers delisting from the JSE, NSX, and OTCQX to streamline operations, focus on growth, and pursue broader international opportunities.
The deal, which marks a major move for Trustco, will proceed as planned, with all conditions either met or waived.
The financial maneuver follows Trustco’s announcement of a new loan agreement that obviates the necessity for a previously issued cautionary statement.
This revelation follows Trustco’s divestiture of a 70-percent stake in the Meya Mining diamond mine to Sterling Global Trading last year, retaining a 19.5-percent interest.
Trustco is primarily owned and managed by the Namibian van Rooyen family, which holds a substantial 63.94-percent ownership stake, or 1,004,000,060 ordinary shares.
Quinton van Rooyen, who owns a 63.94 percent stake in Trustco Group, is regarded as one of Namibia’s wealthiest individuals.
Van Rooyen, who owns a 63.94-percent stake in Trustco Group Holdings, ranks as one of Namibia’s wealthiest men.
Van Rooyen owns a 63.94-percent stake in Trustco Group.
Van Rooyen, through Next Capital, has proposed a financial maneuver to bolster Trustco Group’s financial stability.
Van Rooyen owns a 63.94-percent stake in the company. This stake, which amounts to a total of 1,004,000,060 ordinary shares in the group.
Van Rooyen, who owns an impressive 63.94-percent stake in Trustco Group Holdings, ranks as one of Namibia’s richest men.