INTOSOL Holdings plc Company Update
September 25 2019 - 03:00AM
UK Regulatory
TIDMINTO
INTOSOL Holdings Plc ('INTOSOL' or the 'Company')
Appointment of Advisor, Common Share Subscription and Market Making
INTOSOL Holdings Plc, the award-winning international luxury travel company, is
pleased to announce the appointment of CIC Capital Ltd ('CIC Capital') as
Strategic Advisor to initiate a number of corporate actions as the Company
looks to build its business and execute its strategy, which combines highly
personalised travel design with hotel property ownership and management. CIC
Capital will undertake to:
(i) provide advisory services and documentation to obtain a FCA
certificate of passport approval to change the Company's reporting regulator
under Articles 17 and 18 of the Prospectus Directive 2O03l71lEC from Financial
Conduct Authority UK to Commission de Surveillance du Secteur Financier (CSSF)
Luxembourg. The Company management and offices are in main-land Europe. The
founder and Chairman principal language is German. Therefore long-term the
Board believe it best suited that CSSF (Luxembourg) is to be the regulator of
the Company's obligation under the EU Prospective Directive. INTOSOL remains
dual listed on the Standard List of the London Stock Exchange and the Frankfurt
Stock Exchange ('FSE') and subject to their reporting requirements;
(ii) facilitate a new offering document and appoint an EU leading market
maker to subscribe for GBP1,200,000 common shares off-market (not purchased from
stock market, but new ordinary shares issued by the Company) in INTOSOL and
facilitate the share distribution on the stock exchanges the Company's shares
trade on, to increase share distribution. A market maker or liquidity
provider is a company that quotes both a buy and a sell price in a financial
instrument or commodity. The cash received by the subscription will be used by
the Company to undertake its business plans;
(iii) market INTOSOL to CIC Capital's sophisticated shareholder base to
facilitate the purchase on market (purchased from the markets) of GBP1,500,000
worth of common shares in INTOSOL; and
(iv) in the near future, establish a Luxembourg Securitisation vehicle
compartment, through CIC Fund Securitisation SA, to position the Company to
raise capital without shareholder dilution, to complete property acquisitions
to expand its boutique hotel and luxury villa focussed SOUL Private Collection
(www.soulprivatecollection.com). Securitisation of illiquid assets like
property can be used to raise capital. This is part of the Company's long-term
strategy of having both a high value property business and luxury hotel
business thus increasing operating margins and building asset value.
A General Meeting is to be held on October 4, 2019 at Avenir Registrars 5 St
John's Lane, London EC1M 4BH. The meeting circular and proxy voting form are
available on the Company's web site: www.intosolholdingsplc.com.
The Board believes that the above actions will enable the Company to implement
its growth strategy and build long term value for shareholders and garner
support from both European and UK investors. It remains committed to the
Company's London listing and looks forward to working with its wider advisory
team to execute its business model.
INTOSOL Executive Chairman, Rainer Spekowius, said: "We are delighted to
welcome CIC Capital to the team as we look to execute our growth strategy,
build out our boutique property portfolio and broaden the Company's shareholder
base. They have agreed to support us through a number of corporate actions and
investment initiatives which we believe will allow us to execute our strategy
and importantly, the effect of a market maker and sophisticated investor
syndicate, should provide for an increase in the Company's free float,
facilitating improved liquidity in tradable common shares. Furthermore, the
above market making strategy is aimed at boosting our share trading and
distribution volumes whilst maintaining an orderly market. Our business
continues to improve, and I look forward to updating the market on developments
in due course."
**ENDS**
For further information on INTOSOL visit the Company's website
www.intosolholdingsplc.com or contact:
Rainer Spekowius INTOSOL Holdings Plc Tel: +44 (0) 20 7236 1177
Executive Chairman
Claire Noyce Hybridan LLP Tel: +44 (0)203 764 2341
(Corporate Broker)
Juliet Earl / Gaby Jenner St Brides Partners Ltd Tel: +44 (0) 20 7236 1177
(Financial PR)
Notes:
INTOSOL Holdings PLC is a London-listed international luxury travel company
that combines highly personalised travel design with property ownership and
management to provide high-end global travel experiences. To improve margins,
it is building its SOUL Private Collection of leased and owned boutique
properties, and is in the process of purchasing and developing a number of
sites in South Africa including Oceans Wilderness, a luxury nine-bedroom
boutique hotel in the Garden Route, and a commercial safari lodge in the
renowned Leadwood Big Game Estate, one of the premier locations to see the
so-called Big Five on safari (lion, leopard, rhinoceros, elephant and Cape
buffalo).
The SOUL Private Collection
INTOSOL's SOUL Private Collection includes two properties in Cape Town, South
Africa: SOUL on Llandudno (www.soulonllandudno.co.za) and Penthouse on Beach (
www.penthouseonbeach.co.za).
The flagship property in the portfolio, Oceans Wilderness (
www.oceanswilderness.co.za), which reported a strong maiden financial
performance in its first year of operation, is located on the Garden Route
along with SOUL Rainbow's End and SOUL on the Heads. The Company also owns a
site to build the Leadwood Safari Lodge in the Leadwood Big Game Estate (
www.leadwood.net), one of the premier locations globally to see the Big Five in
the wild.
INTOSOL Private Travel Design
The Private Travel Design division tailors bespoke and unique experiences to a
high-end client base which currently stands at over 15,000. The division has a
unique and growing network of over 3,500 hotel and agency partners worldwide.
END
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