Trustco, Controlled By Namibian Businessman Quinton Van Rooyen, Expands Share Capital With 3.2 Million Issuance

Trustco Group Holdings, an investment firm majority-owned by Namibian businessman Quinton van Rooyen and his family, has increased its share capital by issuing 200 million new shares valued at NAD60 million 3.2 million. The move is part of a broader strategy to strengthen its financial services portfolio and solidify its market position.

The issuance of shares follows the completion of a significant transaction involving the acquisition of an 11.35 percent stake in Legal Shield Holdings Proprietary Limited. The milestone was finalized during a General Meeting held on Jan. 22, 2025, after the deals initial disclosure on Jan. 7, 2025. The new shares were allocated to Riskowitz Value Fund on Jan. 21, 2025, marking the first tranche of the acquisition.

The increase brings Trustco's total issued share capital to 1.192 billion shares, up from 992.17 million previously. This expansion aligns with Trustcos growth objectives, particularly within the insurance and financial services sectors, and positions the company for further market opportunities.

Trustco , listed on the Johannesburg Stock Exchange JSE under the ticker TTO and the Namibian Stock Exchange NSX under TUC, also trades on the OTCQX market under TSCHY. The van Rooyen family, which holds a 63.94 percent majority stake in the company, remains a driving force behind its strategic direction. Despite a 37 percent decline in net asset value per share, Trustco maintained a shareholders' equity of NAD1.15 billion 62 million.

Trustcos acquisition of a NAD468 million 25 million stake in Legal Shield Holdings, aligns with its goal of expanding in the financial services industry. By issuing new shares to support the acquisition, Trustco has not only bolstered its capital base but also demonstrated its commitment to delivering long-term value for shareholders.