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RNS Number : 9298H

Intosol Holdings PLC

08 August 2021

INTOSOL HOLDINGS PLC.

Corporate Update

INTOSOL Holdings Plc. ("INTOSOL" or the "Company"), the award-winning international luxury travel Company, is pleased to provide an update and disclosure on a number of corporate matters.

Share trading volumes are extremely low compounded by a COVID-19 pandemic travel restrictions on key jurisdictions that the Company operates in. In the medium to longer term the Company's revenue and the building up of its assets will address the low share trading distribution. An expansion of properties in particular South Africa that is exclusively managed by the Company has resulted in forward bookings for the winter season, particular in high-end regular clients. This transaction is not a fundamental change in the business but rather an expansion into the high-end bespoke travel business. The Company qualified for German government funding as a leading travel company to maintain staff and working capital during the COVID-19 pandemic. The Comanys head office, banking and operatons are based in Hamburg, Germany.

The Company has reviewed its advisor's performance in promoting the Company and terminated a number of engagements. The Company will continue to review and make changes to its relationships and advisors. These corporate actions have resulted in litigation against the Company which is normal course business in any corporation. The Company will only disclose litigation on judgement and/or when settlement negotiations has been fully exhausted to avoid frivolous disclosures. The Company has appointed a leading UK law firm to deal with any litigation and any judgments to the Company.

The Company advises that all regulatory and stock exchange fees and any other regulatory fees are up to date with no default.

For further information on INTOSOL visit the Company's website www.INTOSOLholdingsplc.com or contact:

 
 Rainer Spekowius (CEO)   INTOSOL Holdings     Tel: +49 (0) 171 911 31 05 
                           Plc 
 

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