viewIntosol Holdings PLC

INTOSOL appoints strategic advisor to boost growth efforts

The boutique travel firm said CIC Captial would help market shares to its investor base as well as establishing a securitisation vehicle to help raise capital

Intosol Holdings PLC - INTOSOL appoints strategic advisor to boost growth efforts
A number of INTOSOL's hotels are located in the picturesque Gerden Route in South Africa

INTOSOL Holdings PLC (LON:INTO) has appointed CIC Capital as a strategic advisor to help boost its growth efforts.

The boutique travel group, which owns a portfolio of luxury hotels, said CIC would subscribe for £1.2mln-worth of new shares to be distributed across the London and Frankfurt stock exchanges, where INTOSOL shares are traded, with the proceeds to be used to fund INTOSOL’s business plans.

READ: INTOSOL completes first tranche payment for Oceans Wilderness hotel

Meanwhile, CIC would also market the company to its shareholder base to facilitate the purchase of £1.5mln-worth of shares directly from the market.

In addition to the new share issues, INTOSOL said CIC would provide advice and documentation to allow the company to switch its regulator from the UK’s Financial Conduct Authority (FCA) to the Luxembourgish watchdog, the Commission de Surveillance du Secteur Financier (CSSF).

The creation of a securitisation vehicle in the Benelux country, which INTOSOL said would allow it to raise capital for property acquisitions without share dilution, was planned for “the near future”.

“We are delighted to welcome CIC Capital to the team as we look to execute our growth strategy”, said INTOSOL’s executive chairman, Rainer Spekowius.

“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”, he added.

In lunchtime trading on Wednesday, INTOSOL’s shares were steady at 40p.

Quick facts: Intosol Holdings PLC

Price: 9.5 GBX

Market: LSE
Market Cap: £1.26 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Intosol Holdings PLC named herein, including the promotion by the Company of Intosol Holdings PLC in any Content on the Site, the Company...



Tourism companies such as INTOSOL set for a bumper year

INTOSOL Holdings PLC (LON:INTO) is on a firm footing and looking at growth ahead, Rainer Spekowius, executive chairman, told Proactive’s Andrew Scott. Bookings for the peak season of September to January are looking good already, he said. After problems for the industry last year,...

on 19/6/19

2 min read