Quinton van Rooyen – Windhoek Observer

15 Aug

Trustco gives 9,3 million shares to directors

ObserverObserver MoneyQuinton van Rooyen

CHAMWE KAIRA Trustco Group Holdings Limited has proposed a one-time issuance of equity instruments to the Independent Non-Executive Directors (INEDs). The proposed share allocation is a total of 9 500 000 ordinary shares and will be issued as follows: Adv. Raymond Heathcote SC, Chairperson: 3 000 000 ordinary shares, Winton Geyser, Chairperson of the Audit and Risk Committee: 2 000 000 ordinary shares, Renier Taljaard, Independent Non-Executive Director: 1 500 000 ordinary shares, Janene van den Heever, Independent Non-Executive Director: 1 500 000 ordinary shares, Tom Newton, Independent Non-Executive Director: 500 000 ordinary shares, Richard Chetwode, Independent Non-Executive Director: 500…

Trustco Group’s net asset value increases.

ObserverNational NewsInternational Financial Reporting Standards (IFRS 10), Quinton van Rooyen, Trustco Group’s net asset value increases.

Martin Endjala The Trustco Group Holding’s net asset value has increased by 362 percent to N$1,8 billion and the group’s after tax profit increased by 257 percent to a profit of N$1,4 billion as per the group’s latest financial results. Basic earnings per share increased by 268 percent to 145.89 cents compared to a loss per share of 86.66 cents last year. The group announced its 2022 financial year results yesterday, and has reported strong financial results for the 12 months ended 31 August 2022, along with its 30th consecutive unmodified audit report. The group has achieved a compounded annual…

Trustco plans to retrench 300

ObserverObserver MoneyNeville Basson, Quinton van Rooyen, Trustco

Staff Writer Trust Holdings (Trustco), a company majority owned by its billionaire Managing Director, Quinton van Rooyen is planning to retrench over 300 employees. Information gleaned by the Windhoek Observer shows the company has already started the process at its Morse Investment and Northern Namibia Development Company units , and has now also written to all its employees informing them of the management decision, which is being implemented as part of cost cutting measures. “Given the current circumstances, market conditions and probability that the global economy would deteriorate even further, the decision to retrench employees in several of the operating…