1 August 2023
In December 2020, the previous Government took the decision to test the market through an Expression of Interest (EOI) in respect of SHG’s shareholdings in Solomon & Company (St Helena) Plc (Solomon’s).
Whilst this Government is committed to encouraging private enterprise and competition in St Helena, it must also consider the wider public interest when making decisions. Solomon’s is the largest corporate entity on the Island and is a conglomerate with interests in a wide variety of economic sectors. Given its size and economic scope, it was not considered appropriate that SHG should dispose of its shareholdings at this time.
As a result, Executive Council have requested that officials should undertake a full options analysis, with specialist support, to assess whether and how any future disposal of shareholdings should be considered. This will evaluate the risks and benefits, and what options might be available for full or partial disposal of shares. Once complete, the government will then be able to appropriately consider what course of action to take.
All of those who responded to the Expression of Interest have been written to and advised of this decision.
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SHG
1 August 2023