Stellar clarification regarding recent media reports

For the past two decades, the Stellar team has worked tirelessly to build a business that holds transparency and Open Book Management at its heart. We pride ourselves on our ethical approach to business and take our obligations seriously as an employer and business partner. It is for these reasons that we must clarify recent inaccurate reports regarding our business.

Ownership

False allegations have been made in an attempt to link Stellar with transactions and activities of a business known as “Stellar Europe Limited”.

For context, Stellar Global LLC sold the Stellar Europe LLC entity on the 19th December 2017 as a fully operational business and going concern. As published1, the business was sold to Alphace Limited, a third party entity owned by Parabellum Capital2, a London-based private investment company. Public record shows that Stellar Europe Limited was incorporated by the acquirer3.

Despite the new owners retaining the Stellar name (for a fixed period of time under the terms of the sale) the Stellar Europe Limited entity has no affiliation, association or connection with the Stellar group of companies. It is important to note that Stellar did not, and does not, have any involvement, control or influence over any post sale transactions that were undertaken by the acquirer. Further, we confirm that none of the companies in the Stellar group of companies has ever operated or conducted business in the British Virgin Islands.

Related Party Transactions

All of Stellar’s subsidiaries are independently externally audited on an annual basis. Related party transactions are fully disclosed and properly accounted for. Stellar’s external audits are conducted by Grant Thornton (in Australia) and SGV (a member practice of Ernst & Young) in the Philippines. Stellar has never been subject to any adverse audit findings. In addition, payments made between subsidiaries have been independently tested to ensure complete compliance with transfer pricing legislation and obligations.

Stellar has a proven track record of strong corporate governance and good corporate citizenship, which is evidenced by our Board and Committee Structures, comprehensive policy and procedure framework and strict adherence to statutory and reporting deadlines and payments.

We reject the allegation that we have in any way acted contrary to Australian tax or corporate governance regulation and we are committed to continue to work openly and transparently with our partners and team members in Australia and abroad.

  1. https://esos.nv.gov/EntitySearch/OnlineEntitySearch
  2. https://beta.companieshouse.gov.uk/company/11080184/filing-history
  3. https://beta.companieshouse.gov.uk/company/11088145/filing-history

ABOUT STELLAR

20 years in business | Seven-time Frost & Sullivan Outsourcer of the Year | 90% employee satisfaction | Open Book Management culture | 37 million + interactions a year | 18 global locations

Stellar is the partner of choice for some of the world’s most loved brands. We are passionate about creating better customer relationships.

Stellar solves our clients’ challenges by providing integrated services in customer contact management, shared services, digital channel management and consulting. We partner with some of the best known brands, driving innovation to improve the way business is done. With expertise across multiple industries and key business functions, we deliver better client outcomes, outstanding customer relationships and transformational results. We are proud of our client relationships; with decade long partnerships that continue to grow and evolve. A partnership with Stellar is one built on trust and transparency. With Stellar, we will delight your customers, drive innovation, and navigate disruption.

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