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Title: Trustco To Raise NAD 2.4 Billion From Shareholders To Tap Into Namibia’S Economic Potential

  Windhoek, Namibia, 16th Jan 2024, King NewsWire - Trustco Group Holdings Limited is concluding pivotal transactions with key shareholders that underscore confidence in Namibia's bright economic prospects and Trustco's time-tested capabilities to channel investment into high-growth areas.First, Trustco and United States fund Riskowitz Value Fund LP (RVF) will enter into an option to make a cash investment of up to NAD 950 million into Trustco, entrenching RVF as a key anchor foreign investor. The capital will provide Trustco with unparalleled financial muscle to capitalize on new opportunities and strengthen existing investments in a Namibian economy poised for rapid growth.Additionally, Next Capital (Pty) Ltd and entities affiliated with Trustco’s founder, Dr Quinton van Rooyen, made an offer to convert debt of NAD 1.48 billion into new ordinary shares in Trustco. This transformation of debt into equity is a proactive approach to debt management that unlocks free cash flows for future investment, frees up capital for dividends in the medium term, and more than doubles Trustco’s net asset value. The conversion option will optimize Trustco’s capital structure and align the interests of founder shareholders with minority holders and key debtholders."With our country's wealth of natural resources, stable governance, and strategic location, Namibia's economic future is filled with promise," said Deputy CEO, Quinton Z van Rooyen. "These shareholder actions allow Trustco to convert national potential into investment opportunities, and shareholder returns, and reinforce our progressive trajectory and diversification strategy. These moves emphasize Trustco's dedication to creating sustainable value for our shareholders and solidifying our position in the market. We w...

This press release is issued by King Newswire