starcomms confirms role of actis, ecp and chapel hill denham

7/31/2019 Starcomms Confirms Role of ACTIS, ECP and Chapel Hill Denham

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Starcomms 2008 Placement Offer Class

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Starcomms Confirms role of ACTIS, ECP and Chapel Hill DenhamMay 28, 2012 / Fortune & Class

For the Records:[PDF] STARCOMMS RAISES N64bn THROUGH PRIVATE PLACEMENTwww.starcomms.com/files/starcomms_raises_N64B.pdfSTARCOMMS RAISES N64bn THROUGH PRIVATE PLACEMENT. Starcomms, Nigeria's 4th largest telecommunicationsoperator and leading triple-play ...

1. Explanation of what a Transfer Agent is2. STARCOMMS RAISES N64bn THROUGH PRIVATE PLACEMENT3. Screenshots of Starcomms-ACTIS-ECP Statements4. Screenshots from STARCOMMS showing Chapel Hills Role as Transfer AgentsWe downloaded the information referenced here from Starcomms Plc website (hereincached for record purposes).

In the document, the role and knowledge of the transaction by the paries referenced have

been clearly stated.

Investors should however note the referral to CHPL as Transfer Agent of

Starcomms.

A Transfer Agent is not known to the Nigerian Capital Market Operations rule or laws as at

this date.

A transfer Agent acts like a Registrar, and it might be safe to conclude that this was the

role that CHPL assumed in order to transfer shares from itself and related parties, to

other investors without a transfer form.

Even at that, assuming there was registration for transfer agents in Nigeria as at that

time, we have been able to confirm that CHPL did / does NOT have that license from theSEC Nigeria; and it is even still illegal to transfer shares without the underlying transferforms signed by the transferee and transferor.

Find below screenshots from the page and the full statement from STARCOMMS which

also established that both ACTIS (UK jurisdiction) and ECP (USA jurisdiction), as directors of

the company, with fiduciary responsibilities were in the know of the actions that took place.

2. STARCOMMS RAISES N64bn THROUGH PRIVATE PLACEMENTSource: Starcomms - www.starcomms.com/files/starcomms_raises_N64B.pdf

Starcomms, Nigerias 4th largest telecommunications operator and leading triple-play(mobile, fixed wireless voice, wireless broadband) provider has raised N64 billion from itssuccessfully completed private placement exercise from investors. The fund is expected to

further position the company for the challenges that lies ahead in the rapidly expandingtelecommunications industry in Nigeria. With this feat, the now predominantly Nigerian-owned operator will become the first listed Nigerian telecoms company on the domestic

stock exchange, when it lists later this month.

The success of the private placement will also serve as a springboard for the company to

return capital to its shareholders. It would be recalled that Actis, a leading private equity

investor in emerging markets, and Emerging Capital Partners (ECP), an international private


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equity firm focused on Africa sold their interests thus enabling a widening of the companysNigerian ownership.

Commenting on the success of the private placement, Chief Maan Lababidi, founder of thecompany said it demonstrate the fact that investors Believe in the future of Starcomms

and in the management team led by our CEO, Maher Qubain. With Actis and ECP, we have

grown the business into a world class, well managed national telecoms operator and amarket leader.

Lababidi stressed that he looks forward to the next exciting phase of development for the

country as Starcomms grow in size to serve more Nigerians and as we go public on theNigerian stock exchange a first for Nigeria.

Also lending his voice to the success of the private placement, Mr. Simon Harford, CEO ActisWest Africa stated that the company is pleased to have had the opportunity of beinginvolved with Starcomms and for growing its business.

Actiss partnership with Chief Lababidi, the management team, ECP and the Board hasmeant we have been able to contribute to the growth of the company and the developmentof the business into a market leader in an exciting and competitive market. The successful

closing of the private placement is a testament to the very positive investor sentiment andinterest in the company. Harford added.

Hudley Doddy, CEO ECP, who also commented on the success of the exercise, said his

company partnership with Starcomms in the past has paid off as it has expanded itsregional footprint, developed new services and generated top corporate business accounts.

The proceeds from the private placement he stressed will enable the company to expand

rapidly and bring its services to more of the Nigerian market. Now, as the companyprepares for its landmark listing, we hope to watch it grow even further as a publicly owned

company.

Starcomms has grown in leaps and bounds since it was established by the Lababidi family in

1995. From a humble beginning with less than 140,000 subscribers, the company boasts ofmore than 1.5 million subscribers today making it the 4th largest telecoms company in

Nigeria.

The companys foray into the Nigerian market is not without its benefits as it is widely

recognized for the innovation it has brought into the industry (it is the leading high-speed

broadband services provider). The Starcomms brand is easily recognizable in most part of

the country. To this end, it won the Nigerian Telecoms Company of the year 2007, and

Nigerian Wireless Company of the year (Nigeria Information Technology and TelecomsAwards). Starcomms is currently rolling out in a further 20 cities across the country as well

as increasing its network capacity in its existing operations.

Other garlands for Starcomms include IT Company of the Year (Internet Service Provider)

and the Communication Company of the Year (Wireless Operator), at the Niger DeltaAdvancement Awards (NDAA), which the organizers, Bonux Communication, said was inrecognition of its excellent performance both within and outside the Niger Delta. This, they

said, has bridged the communication gap in the difficult terrain of the area.

Recently the United States-based CDMA Development Group (CDG) commendedStarcomms, Nigerias largest CDMA 3G Mobile network, on the successful deployment of


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West Africa's first CDMA2000(r) 1xEVDO Revision A (Rev. A) network in Abuja, the FederalCapital Territory.

With over 130 members, the CDMA Development Group is a trade association formed tofoster the worldwide development, implementation and use of CDMA2000 technologies. The

primary activities of the CDG include development of CDMA2000 features and services,

public relations, education and seminars, regulatory affairs and international support.Currently, there are more than 500 individuals working within various CDG subcommitteeson CDMA2000-related matters.

CDMA2000 is the most widely deployed 3G technology with 227 operators in 97 countries,including 77 CDMA2000 1xEV-DO systems, serving more than 350 million subscribers.

The networks aggressive expansion project in Nigeria remains on course with the openingin Abuja, Onitsha, Aba, Asaba, Kaduna, Benin, Abeokuta and Zaria, which have now joinedother key cities as Lagos, Ibadan, Kano, Maiduguri and Port Harcourt in the Starcomms

network. Over the years, the company has invested millions in new technologies and

innovations towards improving the quality of its products and service with the ultimate aimof building a solid network for voice and data to cater for all categories of subscribers.

The deployment of the world-class CDMA technology in 2002 exponentially establishedStarcomms as Nigerias largest CDMA network. As the African leader in thecommercialization of CDMA, Starcomms has continued to demonstrate its expertise in

maximizing the performance of new technologies across its infrastructure equipment and

subscriber products in order to meet customer expectations.

3. Screenshots of Starcomms-ACTIS-ECP Statements


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4. Screenshots from STARCOMMS showing Chapel Hills Role as Transfer Agents


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Relevant Information:

The STARCOMMS PLC Private Placement Exposed - The Petition

Investor ALERT:

If you have participated in the Starcomms Private Placement offer and you feel comfortable tojoin others in your situation, you should complete the form and wait to hear from us. ClickHere

starcomms confirms role of actis, ecp and chapel hill denham

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