REG-Global Ports Holding PLC GPH adds Canary Islands ports to network

Global Ports HoldingAnnouncement

09/08/2022 07:15

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   Global Ports Holding PLC (GPH)
   GPH adds Canary Islands ports to network

   09-Aug-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Global Ports Holding Plc

   GPH adds Canary Islands ports to network

   Global  Ports  Holding  Plc  (“GPH”  or  “Group”),  the  world’s   largest
   independent cruise port operator, is pleased to announce that Global Ports
   Canary Islands S.L. (“GPCI”), an 80:20  joint venture between GPH and  our
   local partner Sepcan S.L., has successfully completed the competitive  RFP
   process for  certain  Canary Island  cruise  ports having  received  final
   acceptance for  the  concessions for  three  cruise ports  in  the  Canary
   Islands: Las Palmas de Gran  Canaria, Arrecife (Lanzarote) and Puerto  del
   Rosario (Fuerteventura).

   This follows GPH’s announcement on 11 July 2022 that GPCI had agreed terms
   for the Las Palmas  Cruise Port concession, and  GPH’s announcement on  10
   November 2021 that GPCI  had been awarded preferred  bidder status in  the
   RFP process  for these  concessions. The  concession for  Las Palmas,  the
   largest port among the three, is for 40 years and the concessions for  the
   two other ports are 20 years.

   GPH expects to take over operations of the three cruise ports in  calendar
   Q4-2022, ahead of the  peak winter season for  Canary Island cruises.  The
   addition of these ports  takes the total number  of cruise ports in  GPH’s
   network to 24  across the Caribbean,  Mediterranean, South Atlantic,  Asia
   and Northern European cruise regions.

   In 2019, these  three cruise  ports handled 1.5  million cruise  passenger
   movements. GPCI will invest approximately €40 million into constructing  a
   new cruise  terminal in  Las  Palmas and  modular terminal  facilities  in
   Marmoles pier in  Arrecife and  Puerto del Rosario  in Fuerteventura.  The
   debt financing  for these  projects is  expected to  be secured  by  local
   banks, and GPH is in advanced discussion regarding the financing. The debt
   metrics are expected to align with the Group’s historical precedents.

   Global Ports Holding Chairman and CEO, Mehmet Kutman, said:

   “The addition of these ports to our network is a testament to the strength
   of GPH’s  proposition  as  the world’s  largest  independent  cruise  port
   operator. We help create well-run, well-invested world-leading cruise port
   facilities for the benefit of all stakeholders.

   The GPH team warmly welcomes these ports into our network. We look forward
   to working in partnership with  all stakeholders to increase the  economic
   benefit of cruise tourism in their localities.”

    

   CONTACT                                   
   For investor,  analyst  and  financial   For media enquiries:
   media enquiries:
   Investor Relations                       Global Ports Holding
   Martin Brown                             Ceylan Erzi
   Telephone: +44 (0) 7947 163 687          Telephone: +90 212 244 44 40
   Email:                                   Email:
    1 martinb@globalportsholding.com         2 ceylane@globalportsholding.com

    

   Global Ports Canary Islands S.L. (“GPCI”): GPH owns 80% of GPCI and Sepcan
   S.L. owns 20%.  Sepcan is a  Canary island family-owned  company that  has
   been providing services to  the port of Las  Palmas since 1936 and,  since
   1998, has  been focused  on  mooring/unmooring, luggage  handling,  ship’s
   provisioning and passenger services. They also specialise in environmental
   services and maritime pollution prevention.

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   ISIN:          GB00BD2ZT390
   Category Code: MSCH
   TIDM:          GPH
   LEI Code:      213800BMNG6351VR5X06
   Sequence No.:  179967
   EQS News ID:   1415671


    
   End of Announcement EQS News Service

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References

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   1. mailto:martinb@globalportsholding.com
   2. mailto:ceylane@globalportsholding.com


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