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Frontier Services Group Comments on Recent Media Report

123 Days ago

Business Wire India

Frontier Services Group Limited (“FSG”, “The Company”) (SEHK: 00500), a publicly listed transportation and third party logistics provider on the African continent, issued the following statement:

 

Frontier Services Group is aware of a recent media report published by The Intercept, and wishes to inform investors and markets that the following statements were offered by FSG to The Intercept, for the record:

 
  1. FSG has no involvement whatsoever with the provision of -- or even offering to provide --defense services in Libya. To the extent that anyone has proposed such services and purported that they were representing FSG, that activity is unauthorized and is not accepted or agreed to by the company.
  2. Since our inception, FSG has had bright line policies against the provision of defense services and the purchase of US origin items that might be ITAR-controlled.
  3. The company has strict protocols in place and has a board-level committee to review any high-risk project, which would certainly include any proposal in a 126.1 country, such as Libya. We are unaware of any such proposal.
  4. FSG has been, and remains, strictly a Transportation & Third Party Logistics business. The company will fully investigate any of the actions purportedly taken in its name and ensure that no such projects are undertaken.

FSG was encouraged that the reporters acknowledged that FSG management was unaware of -- and took no part in -- the allegedly unlawful conduct at issue.

 

Gregg Smith, CEO of FSG stated, “We take the integrity of our business very seriously - we will follow any allegations where the facts take us - and we will do so thoroughly, quickly and transparently. We will, of course, cooperate with any investigating authorities.”

 

About Frontier Services Group:

 

Frontier Services Group Limited (“FSG”) (SEHK: 00500) is a publicly listed company on the Hong Kong Stock Exchange with its headquarters in Nairobi, Kenya. FSG provides complete logistics solutions in frontier markets with a particular focus on Africa. Serving sectors across oil and gas, mining and humanitarian relief organizations, FSG is able to support customer’s needs around moving goods, material and people in to, and out of, some of the fastest growing, but more difficult operating environments in a safe, reliable and cost-effective manner.

 

For Further Information Please Visit: www.FSGroup.com

 

 

 

 

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