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 PHILIPSBURG:--- In a press release issued on Wednesday, September 30, 2020, Mr. Jose Jardim of the CBCS has once again accused Mr. Ansary to have created non-transparent structures outside of the vision of the CBCS to cause damages to ENNIA, a Company-owned 95% by the Ansary family, in the amount of Naf. 700 million guilders.

This allegation is absurd and is once again hereby categorically denied in all of its implications.
Once again we draw the attention of Mr. Jardim, as well as the highest authorities of government and the general public of both islands, to the undeniable fact that no shareholder, supervisory director, including Mr. Ansary, has ever had the signature authority, in any shape form or manner, to transfer any amount, large or small, from any accounts of ENNIA to another account. There have been absolutely no exceptions and no way to get around this. The only way for funds to move out of any ENNIA account to the account of any other individual, shareholder, supervisory directors or a third person, was for two managing-directors of ENNIA, with joint signature authority to instruct ENNIAs banks to transfer any amount to the account of a shareholder or any other persons.

We have called a number of times publicly and privately on Mr. Jardim to provide us and the public with evidence supporting these allegations. He made a definitive commitment several times to Mr. Richard Gibson Sr. to do so, first within one week, then asked for an extension of another week and has failed to deliver in the last few months. In spite of this total failure Mr. Jardim keeps repeating this absurd allegation in different forms at all times, rather than conscientiously withdrawing these false accusations, which tends to inadvertently undermine the credibility of the respected institution that he represents at this time.

As for Mr. Jardims reference to the mysterious non-transparent structures outside of the vision of the CBCS, our categoric response is that it is absolutely untrue.

Once again, we call on Mr. Jardim to disclose the details of his mysterious discovery and to display the documentary evidence of its validity for public verification.

Mr. Jardims new initiative to impersonate as a manager of ENNIA in a new lawsuit is a smokescreen to distract attention from his total failure to carry out the mandate he asked for and received from the Emergency Court on July 6, 2018.

On that date, the CBCS informed the court that ENNIA was financially sound and all that was needed to be done was to restructure the companies within a period of 6 months at a cost of Naf. 100.000.--, which was subsequently increased to Naf. 500.000.--. Today, the CBCS has exceeded the time frame of 6 months by more than 18 months, as well as the limited budget of Naf. 500.000., by what is estimated to be in excess of many millions of dollars. We have had absolutely no accounting of who the beneficiaries of these enormous expenditures have been and what precise services they have rendered to deserve high compensations, in the absence of any real emergency at ENNIA, any claims by third party creditors outside of the ordinary course of business, any lawsuits, other than the CBCS impersonating as the manager of the companies that we own 100% of.

In the same period, the CBCS has lost many more millions of dollars in asset value and a significant market share held by ENNIA, threatening the interest of the policyholders who have never in our time had a problem with the Company other than in the ordinary course of business and job security of the employees who have had the benefit of more than 100% pay raise in about ten years.

It is of critical importance in the examination of all the above information to note that the total assets of ENNIA delivered to us in January 2006 by its previous owners, Delta Lloyd, were no more than 900 million guilders. All additional equity contributions thereafter have been made by the injection of assets and/or generation of profits, by no one other than the US shareholders. The total amount of profits generated in our time has substantially exceeded the distribution of dividends, and other contributions to shareholders, management members, supervisory board members, and others.

 In the light of the foregoing realities, it is of crucial importance and a highly welcome move by the CBCS to expedite the process of restructuring, with the support and participation of US shareholders and qualified management members. It is our belief that this can be completed in no more than two weeks to the satisfaction of the CBCS at the same time as it addresses the daunting social, economic and financial challenges of the Corona environment.

PARMAN INTERNATIONAL B.V.