First Tranche Payment Completed for Oceans Wilderness

INTOSOL Holdings Plc - First Tranche Payment Completed for Oceans Wilderness

PR Newswire

London, July 15

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

16 July 2019

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

First Tranche Payment Completed for Oceans Wilderness

INTOSOL Holdings Plc, the award-winning international luxury travel company, is pleased to announce that, in accordance with the Agreement announced on 29 May 2019 for the purchase of Oceans Wilderness (‘Oceans’), its flagship nine-bedroom boutique hotel located in the Garden Route in South Africa (www.oceanswilderness.co.za), it has satisfied the payment of the first EURO 367,348.28 tranche of the total consideration of EURO 1,967,348.28, through the issue of 938,735 new ordinary shares in the Company to Van Zuijlekom Afrika Trust (the seller).

Oceans is part of the Company’s SOUL Private Collection (www.soulprivatecollection.com), a portfolio of owned and managed boutique hotel properties. Oceans continues to rank as one of the top ten properties to visit on the Garden Route. It received a 9.6 rating on booking.com and of the reviews posted on TripAdvisor, 99% were positive. Internal guest research revealed that that over 96% of visitors would book again.

INTOSOL Executive Chairman, Rainer Spekowius, said: “We are pleased to have satisfied the first instalment for Oceans Wilderness; it’s a fantastic property which continues to be extremely popular with guests, both internationally and importantly increasingly to South African nationals. It is contributing positively to performance having reported strong financial results in its maiden year of operation (as announced 14 November 2018), underpinning our strategy to increase our margins through ownership of targeted properties and the expansion of our luxury hotel portfolio.”

**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 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.