Milost Global Announces the Arrival of Its Leaders in Nigeria

NEW YORK, Feb. 19, 2018 (GLOBE NEWSWIRE) --

Milost Global Inc. (“Milost”) a New York based private equity firm, announced today that its senior leadership team that is headed by Managing Partner & CEO, Mr Kim Freeman and Senior Partner & Chief Investment Officer Mr Solly S. Asibey landed in Nigeria on Sunday February the 18th. The team is accompanied by Isilo Capital Partners’ team that is led by CEO Tiny Diswai. Both teams will be in Nigeria for the whole week. After leaving Nigeria on Friday 23, they will be headed for East Africa where they will spend another 4 weeks before heading to Southern Africa for 2 weeks, whereas Milost leaders will be back in New York on May 1.

Japaul Locks Horns With New York Based PE Giant

LAGOS, Nigeria, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Japaul Oil & Maritime Services PLC (JAPULOI:NL) (, an oil and maritime services company that is quoted on the Nigerian Stock Exchange, announces that it has entered into a binding commitment letter with Milost Global Inc for a financing facility of $350 million under the Mesa Fund 1, a global opportunity fund that is managed by Milost Global Inc. The financing was arranged and negotiated by Palewater Advisory Group Inc in New York and Banklink Africa Limited in Nigeria.

Paul Jegede, CEO of Japaul Oil & Maritime Services Limited, stated, “We are excited with this development and we appreciate Milost who has shown commitment to commence disbursement on the capital to be injected. This is an opportunity to optimize the potentialities in all areas of our businesses especially in areas of mining which the Japaul Group has diversified. With this Capital to be injected into our company, more businesse will be done and more returns are guaranteed for all the shareholders of our company. All glory belong to God.”

Royal Systems Announces A Funding Commitment

ACCRA, Ghana, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Royal Systems & Services Limited, a Ghana based group of companies, announces that it has entered into a binding commitment letter with Milost Global Inc. under the Mesa Fund 1, a global opportunity fund that is managed by Milost Global Inc. This is for the previously announced $80 million financing facility with Milost. Royal Systems & Services Limited was advised and represented by Palewater Advisory Group Inc.

Samuel Quadjie, Chief Executive Officer, stated, “Royal Systems is enthused by the potential opportunities this financing will bring as soon as realised. It will have huge impact for the strategic direction of our company, particularly breaking barriers to financial and capital intensive industries such as Telecommunications, Real Estate, Oil and Gas, and Mining. Currently we are developing a hostel facility for students of Takoradi Technical University and the interest from Milost is most welcome. The ability to realise this fund will improve not only the returns for our investors over the long term but contribute significantly to the employment and infrastructure deficit in Ghana.”

Milost Announces the Appointment of a New Leader

NEW YORK, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Milost Global Inc. (“Milost”) announced today that its Board has appointed Mr. Kim Freeman as the new leader and Chief Executive Officer effective from February 1, 2018. Kim will be based in New York and he will report to the Board of Directors of Milost Global Inc. Kim is taking over from the founding partner and current CEO, MJ Gwadiso. Mr Gwadiso has stepped down from the position as CEO of Milost in December 2017 and will also be stepping down as a member of the Board at the end of March.

Mr. Freeman is currently Partner & Managing Director of Mining at Milost Global Inc, where he is responsible for the global mining portfolio of Milost. In connection with Mr. Freeman's appointment as Chief Executive Officer, the Firm and Mr. Freeman entered into an Employment Agreement dated as of December 12, 2017 (the "Employment Agreement"). The Employment Agreement includes the following material terms:

Contract Term

An initial term of months, followed by automatic renewals for successive 12-month periods unless 60 days' prior written notice of non-renewal is provided.

Compensation: Mr. Freeman's total annual compensation will be $50, 150, 000. 00 and Solly Asibey, the incoming Chief Investment Officer’s total annual compensation is $30, 120, 000.00


Milestone Bonuses: For each of the fiscal years ending March 31, 2019, 2020, 2021 and 2022, the milestone bonus earned is based on the operating margin achieved by the Company in that fiscal year compared to the relevant target operating margin set forth below. For these purposes, operating margin is defined as operating income before income taxes divided by interest and fee income on finance receivables, adjusted in the sole discretion of the Compensation Committee, including without limitation for the following items: 1) changes resulting from a FASB Accounting Pronouncement, 2) dividends, 3) gain on sale and 4) provision for credit losses if less than charge-offs. The target operating margins are as follows:


 Fiscal year ending March 31, 2019          7.50 %
 Fiscal year ending March 31, 2020  12.50 %
 Fiscal year ending March 31, 2021  20.00 %
 Fiscal year ending March 31, 2022  30.00 %