Intosol Holdings PLC Corporate Update (9298H)
09 August 2021 - 4:00PM
UK Regulatory
TIDMINTO
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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END
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