Namibian tycoon Quinton van Rooyen’s group launches $5.3-million share buyback plan
Van Rooyen owns a 63.94-percent stake in the company. This stake, which amounts to a total of 1,004,000,060 ordinary shares in the group.
Van Rooyen owns a 63.94-percent stake in the company. This stake, which amounts to a total of 1,004,000,060 ordinary shares in the group.
Van Rooyen, who owns an impressive 63.94-percent stake in Trustco Group Holdings, ranks as one of Namibia’s richest men.
Meya Mining, a Trustco subsidiary led by van Rooyen, presently holds an extensive mining license covering 129 square kilometers in Sierra Leone.
Trustco takes pride in investing in high-quality world-class assets.
Van Rooyen owns 63.94 percent of Trustco.
Van Rooyen’s equity interest is still down by more than $40 million.
Shares in the group rose 35.56 percent as a result.
Van Rooyen owns 63.94 percent of the leading Namibian company.
His net worth increased by $29 million in the first week of 2022.
It is the second year in a row that the diversified investment holding has posted losses.
The gains will provide a cushion of sorts to the $190-million loss in his net worth in 2021.
Meya Mining is majority-owned by Quinton van Rooyen’s Trustco Resources in partnership with Sierra Leonean company, Germinate SL Limited.
Trustco is a diversified investment holding majority owned and operated by the Namibian van Rooyen family.
Trustco shares on the Namibia Stock Exchange have now lost more than two-thirds of their value.
The $167.92-million loss can be linked to a sell-off in the shares of the investment holding.