NEWS

PRESS RELEASE

BLACK STAR HOLDINGS GHANA LIMITED WAS NOT A PARTY TO THE SALE OF SANLAM'S SHARES IN ENTERPRISE GROUP LIMITED

It has come to the attention of the Board and Management of Black Star Holdings Ghana Limited (BSHGL) that some persons are erroneously claiming that BSHGL was part of the transaction for the acquisition of Sanlam's stake in Enterprise Group Limited.
Black Star Holdings Ghana Limited (BSHGL) is not and has never been a part of the Enterprise Group Limited transaction.

We understand that the transaction was rather led by Black Star Holdings (BSH), a special purpose vehicle managed by Leapfrog Strategic African Investments, a South African company.
Black Star Holdings Ghana Limited (BSHGL) and Black Star Holdings (BSH) are different entities, with different names, incorporated in different jurisdictions, and with different ownership. Black Star Holdings Ghana Limited (BSHGL) is a wholly owned Ghanaian entity incorporated under the laws of the Republic of Ghana. It holds majority interest in Black Star Advisors Limited, Black Star Fund Managers Limited and Black Star Brokerage Limited, which are all regulated by the Securities and Exchange Commission of Ghana.

Black Star Holdings (BSH), which was involved in the transaction with Enterprise Group, is a wholly owned subsidiary of Leapfrog Strategic African Investments (LSAI), which is a separate account managed by Leapfrog Investments, and in which Prudential Financial, Inc USA (PFI) is the primary investor.
BSHGL has no relationship whatsoever with the South African entity and its affiliates that recently completed the transaction with Enterprise Group Limited.
It is our opinion that the reportage associating BSHGL with the Enterprise Group transaction is dishonest, malicious, and intentionally done to mislead the public.