INTOSOL HOLDINGS PLC. Corporate Update

LONDON, Feb. 03, 2020 (GLOBE NEWSWIRE) -- INTOSOL Holdings Plc. (‘INTOSOL’ or the ‘Company’), the award-winning international luxury travel Company, is pleased to announce the following:

1. The appointment of Terrance A. Larkan as Chairperson of the Audit Committee. Mr. Larkan was former head of Corporate Governance Barrick Gold (Forbes 2000 list) and brings a wealth of regulated public company expertise. Mr Larkan is a Director of CIC Capital Ltd whom is an advisor to the Company and as such Mr. Larkan is a related party and will abstain from any matters relating to CIC Capital Ltd.;
2. The Company has implemented a detailed Corporate Governance Manual and will available on the Company’s website;
3. The appointment of Hans Bischoff as Independent Non-Executive Chairman. During his long career, Hans-Joachim Bischoff held various positions as a managing director and board member in companies with a national and international focus. With his profound knowledge in the areas of marketing, investor relations and public relations, he successfully supported several IPOs and M&A transactions of listed companies;
4. The appointment of Mr.  Rainer Spekowius as Chief Executive Officer and Executive Director;
5. The appointment of MSP Secretarial & Corporate Services to provide a wider range of services due to the increased business activity and growth of the Company; and
6. The Company is progressing the final form of new Prospectus to allow issue of new common shares to enable:
   • the appointment of market maker with subscription for common shares to increase share distribution;
   • the settlement of debt for shares;
   • new Subscriptions to raise capital to progress the acquisition of Oceans Property; and
   • new Subscriptions to raise capital to increase sales and revenue volume

The Company will in the near future appoint an Independent Non-Executive Director to increase the number of Independent directors to 4 with one non-independent (4:1).

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

INTOSOL Holdings Plc.
INTOSOL Holdings PLC is an international luxury travel company that combines highly personalised travel design with property ownership and management to provide high-end luxury global travel experiences.

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.