CHAMWE KAIRA
Nictus Holdings Limited, which is listed on the Namibian Stock Exchange under the code NHL, has announced a number of transactions on the Namibian Stock Exchange, each pointing to calculated portfolio reshuffling among family trusts associated with two key figures on the company’s board.
Directors Gerald R de V Tromp and Philippus J de W Tromp, long-time trustees and beneficiaries of several family trusts, oversaw significant movements of Nictus shares through these entities.
The Nico Tromp Trust, registered under T9/88, offloaded 1 000 000 ordinary shares at N$2.50 per share, bringing in a total of N$2.5 million. In a mirrored transaction, the Saffier Trust (Reg no: T93/97), also under the stewardship of the Tromp directors, sold another 1 000 000 shares at the same price and value.
Another investor, R. Tromp, entered the market as a buyer, acquiring 1,011,250 shares, slightly more than the combined total sold by the trusts at N$2.50 per share, totalling N$2,528,125.00. Although indirectly connected, her interest in the transaction is classified as non-beneficial, highlighting a strategic yet distanced involvement in the company’s equity structure.
In another move showing both familial trust and fiduciary duty, GR de V Tromp, acting as a trustee but not a beneficiary, facilitated the purchase of 1 000 000 shares on behalf of the Myrtle Trust (Reg no: T252/2002), also for N$2.5 million.
The company said all four transactions were cleared by the company’s lead independent director and complied fully with the Namibian Stock Exchange Listings Requirements.
The Nictus Group of Companies was founded in 1945 and was listed on the JSE in 1969. The company’s main business operations were based in South West Africa. The main reason for the listing was to build equity to expand its operations in Southern Africa.
During 2012, Nictus Holdings Limited (better known today as Nictus Namibia) was unbundled from the JSE-listed company, and on September 21, 2012, it was primarily listed on the Namibian Stock Exchange (NSX).
Nictus is the holding company of a group of companies, which retail motor vehicles, tyres, automotive glass, and furniture and provide financial and insurance services in Namibia. The group operates in three segments, namely retail and properties as well as insurance and finance.
