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 £1,200,000 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
£1,500,000 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
Executive Chairman |
INTOSOL Holdings Plc |
|
Tel: +44 (0) 20 7236 1177 |
Claire Noyce
(Corporate Broker) |
Hybridan LLP |
|
Tel: +44 (0)203 764 2341 |
Juliet Earl / Gaby Jenner
(Financial PR) |
St Brides Partners Ltd |
|
Tel: +44 (0) 20 7236 1177 |
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.