Namibian investment company Trustco will again raise eyebrows in the market with a novel proposal to rejig its balance sheet. This week founder, CEO and major shareholder Quinton van Rooyen indicated a willingness to stump up as much as R1bn in loan funding for Trustco, which has been renegotiating its debt and was recently slapped with an ominous credit downgrade by Global Credit Ratings. The much-needed funding line appears to hinge on Van Rooyen’s family-owned vehicle, Next Investments, selling a portion of its Trustco shares to investors, including institutions, individuals, corporates and existing shareholders. Aside from Van Rooyen, Trustco’s major shareholder is the US-based Riskowitz Value Fund and a number of related party investment entities. If the earnout clause attached to Trustco’s acquisition of diamond mining assets from the Van Rooyen family pans out, the family will own more than 1.16-billion Trustco shares, which represents a stake of 72.65%. Officially Trustco re...

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