On 16 January 2020, the Non-Bank Financial Institutions Authority (NBFIRA) issued a public notice confirming the temporary closure of Bluthorn Fund Managers (PTY) LTD (BluThorn).
The Ecsponent group of companies, and in particular Ecsponent Limited (listed on the Johannesburg Stock Exchange) and Ecsponent Botswana Limited wish to reiterate and confirm that it has no association or relationship with the directors, shareholders, staff or operations of BluThorn or as far as the company still refers to itself as “Ecsponent.”
Ecsponent Botswana Limited continues to uphold strict corporate governance principles and processes. The ruling by NBFIRA does not impact or limit the operations of Ecsponent Botswana Limited in any manner or form.
In 2016, the Ecsponent group disposed of a number of operations to BluThorn with an explicit provision that any and all of the entities’ names that referenced Ecsponent be changed. Numerous demands were sent to the then known management of BluThorn, demanding the change of name.
After various demands, the acquired companies underwent the following name changes:
• Ecsponent Projects changed to BluThorn Investments changed to Ecsponent Projects changed to Purple Orchid Investments • Ecsponent Project Holdings changed to BluThorn Holdings • Ecsponent Asset Management changed to BluThorn Fund Managers
We wish to reiterate that the above companies, its directors, shareholders and staff have no association or relationship whatsoever with Ecsponent Botswana Limited or any of the Ecsponent group of companies.
“We wish to distance ourselves from the closure of BluThorn in the strongest possible terms. We assure our clients, investors and staff that the business of Ecsponent Botswana Limited is not impacted by the NBFIRA ruling at all and we continue to uphold the strictest corporate governance principles and processes,” said Dudu Garekwe, Director of Ecsponent Botswana Limited.