INTO.L Regulatory News (INTO)

INTOSOL Holdings Plc - Raises Capital to Continue Expansion Plans

PR Newswire

London, March 15

INTOSOL Holdings Plc / Ticker: INTO / Index: LSE / Sector: Travel & Leisure

15 March 2019

INTOSOL Holdings Plc (‘INTOSOL’ or the ‘Company’)

Raises Capital to Continue Expansion Plans

INTOSOL Holdings Plc, the award-winning international luxury travel company, announces that it has raised EURO €250,000 through the issue of 789,500 new Ordinary Shares in the Company to an existing investor, to fund the continued development of its SOUL Private Collection www.soulprivatecollection.com, a portfolio of owned and managed boutique hotels in South Africa. 

INTOSOL is actively looking to expand its portfolio, as demonstrated by the recently signed two-year contract to manage a luxury hotel based in Cape Town, SOUL on Llandudno www.soulonllandudno.co.za. The progress made in marketing its existing properties is opening additional opportunities that the Board would potentially like to act on, if they fit the stringent criteria for the SOUL Private Collection.

INTOSOL Executive Chairman, Rainer Spekowius, said: “We are actively developing the business, particularly the SOUL Private Collection in South Africa. An existing investor at the pre-IPO phase has increased his stake, demonstrating belief in our company strategy, and we will look to utilise the capital in growing the business. We are in active negotiations over a number of properties and look forward to providing and update as developments are made over the coming weeks.”

Application has been made to the UK Listing Authority for the admission of those 789,500 new Ordinary Shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities and it is expected that dealings will commence on 21 March 2019. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue (‘Admission’).

Upon Admission, the issued Ordinary Share capital of the Company will consist of 12,275,118 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority.

**ENDS**

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

Notes

INTOSOL Holdings PLC is a London listed international luxury travel company that merges private travel design with hotel management and property ownership to provide bespoke, high-end global travel experiences across the world. Its profitable private design business which blends personal contact with proprietary technology, VIRTOSOL, already services a growing client base of over 15,000 and the Company is focussed on further expansion into English-speaking markets. To increase margin and asset backing, it is building its SOUL Private Collection of leased and owned boutique properties. In line with this, it 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 places to see the Big 5.

The luxury travel market continues to grow and tends to be immune to economic fluctuations, with high-end customers favouring bespoke and exclusive experiences regardless of the greater economic climate. INTOSOL is ideally positioned to capitalise on this trend and execute its growth strategy to become a leading bespoke travel company with an international client base, a global experience portfolio and a range of high-end properties across the world providing high margin revenue and asset backing.