Trustco Group Holdings Limited (NMSE:TUC) agreed to acquire additional 11.35% stake in Legal Shield Holdings (Proprietary) Limited from Riskowitz Value Fund managed by Riskowitz Capital Management LLC for approximately NAD 200 million on January 16, 2024. Under the terms of agreement, Trustco will issue 400 million new shares to RVF at NAD 1.17c per share in two tranches of 200 million shares each. Prior to the transaction, Trustco Group Holdings Limited (NMSE:TUC) held 80%.

The transaction is subject to customary regulatory approvals and is expected to be finalized by July 31, 2024, or as otherwise agreed upon by both parties.