{"id":399533,"date":"2026-08-18T15:52:18","date_gmt":"2026-08-18T13:52:18","guid":{"rendered":"https:\/\/informante.web.na\/?p=399533"},"modified":"2026-08-18T15:52:21","modified_gmt":"2026-08-18T13:52:21","slug":"trustco-shareholders-reject-riskowitz-resolutions-just-35-8-support","status":"publish","type":"post","link":"https:\/\/informante.web.na\/?p=399533","title":{"rendered":"Trustco Shareholders Reject Riskowitz Resolutions: Just 35.8% Support"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">WINDHOEK, Namibia \u2014 \u201cTwice in six months, Riskowitz has asked Trustco\u2019s shareholders to hand over this company. Twice the shareholders have answered. Riskowitz heard no in February; it has heard no again today. There is no version of this campaign in which asking a third time produces a different answer. This board is going back to work \u2014 we\u2019d suggest Riskowitz do the same.\u201d<br><strong>\u2014 Dr Quinton van Rooyen, Group Managing Director<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the second time in six months, an attempt by the Riskowitz parties to remove and replace the board of Trustco Group Holdings Limited has failed \u2014 the first requisitioned by Riskowitz Value Fund LP in February 2026, and today\u2019s by Riskowitz Capital Management LLC (\u201cRCM\u201d). At today\u2019s general meeting in Windhoek, every substantive resolution RCM proposed was defeated, with none securing more than 35.77% of the votes recorded at the meeting. The Board of Trustco remains unchanged.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The certified results for RCM\u2019s five proposed nominees were:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Resolution<\/strong><\/td><td><strong>For<\/strong><\/td><td><strong>Against<\/strong><\/td><td><strong>Abstain<\/strong><\/td><td><strong>Result<\/strong><\/td><\/tr><tr><td>2.1&nbsp; Jerome Delmonte Davis<\/td><td>35.43%<\/td><td>49.63%<\/td><td>10.41%<\/td><td>Not carried<\/td><\/tr><tr><td>2.2&nbsp; Deidre Lucinda Deckenbrock<\/td><td>35.44%<\/td><td>49.63%<\/td><td>10.41%<\/td><td>Not carried<\/td><\/tr><tr><td>2.3&nbsp; Robert Norman Hutchinson\u2011Keip<\/td><td>35.44%<\/td><td>49.63%<\/td><td>10.41%<\/td><td>Not carried<\/td><\/tr><tr><td>2.4&nbsp; Chuka Obinna Okafor<\/td><td>35.44%<\/td><td>49.63%<\/td><td>10.41%<\/td><td>Not carried<\/td><\/tr><tr><td>2.5&nbsp; Grant Michael Pattison<\/td><td>35.44%<\/td><td>49.63%<\/td><td>10.41%<\/td><td>Not carried<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">All seven resolutions to remove the incumbent directors likewise failed. The sole resolution to pass, an ancillary administrative authority to give effect to the foregoing resolutions, is of no consequence, there being no resolutions to give effect to.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Full details of the meeting are set out in the announcement released on SENS today, to which shareholders are referred.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About Trustco:<br><\/strong>Trustco Group Holdings Limited is a holding company headquartered in Windhoek, Namibia, that owns subsidiaries engaged in diverse business activities spanning the insurance, lending, education, real estate, mining and investment management sectors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About Namibia:<br><\/strong>Namibia is a Southern African country with a population of approximately three million and a GDP per capita of approximately USD 4 900 in 2025 (IMF). The country is endowed with rich natural resources, with recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for global t echnology demand, alongside developments in its green hydrogen projects and strong growth in uranium output. The Namibian government has heralded these discoveries as a transformative period, holding the potential to double the nation\u2019s GDP by 2040. The IMF projects growth recovering toward its medium-term potential of around 3%, supported by mining and services activity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Forward-Looking Statements:<br><\/strong>All statements made in this media release with respect to Trustco\u2019s current plans, estimates, strategies, beliefs and other statements that are not historical facts, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill,\u201d or \u201cwould,\u201d or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WINDHOEK, Namibia \u2014 \u201cTwice in six months, Riskowitz has asked Trustco\u2019s shareholders to hand over this company. Twice the shareholders have answered. Riskowitz heard no in February; it has heard no again today. There is no version of this campaign in which asking a third time produces a different answer. This board is going back &#8230;<\/p>\n","protected":false},"author":10,"featured_media":399534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24,26],"tags":[],"class_list":["post-399533","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news","category-trustco"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trustco Shareholders Reject Riskowitz Resolutions: Just 35.8% Support - Informant\u00e9<\/title>\n<meta name=\"description\" content=\"WINDHOEK, Namibia \u2014 \u201cTwice in six months, Riskowitz has asked Trustco\u2019s shareholders to hand over this company. 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