Trustco Group Holdings (Trustco), the JSE-listed investment holding group based in Namibia, says a takeover attempt by Riskowitz Value Fund does not survive legal, procedural, or governance scrutiny.
In a statement on Monday, Trustco CEO Dr Quinton van Rooyen said the company had assessed a requisition from the Riskowitz Value Fund (RVF), and the finding was that the RVF offer "is invalid on its face and fundamentally unfit for consideration by a public listed company."
Trustco is a holding company that owns subsidiaries in diverse business activities spanning real estate, mining, insurance, micro-finance, and education. On November 26, 2023, Trustco had alerted shareholders that RiVF had demanded that a shareholder meeting be convened, with the aim to appoint a new board of directors.
Meanwhile, the company is still auditing its…
