Global Ports Holding PLC Agreement (5716A)

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RNS Number : 5716A

Global Ports Holding PLC

12 September 2018

Global Ports Holding Plc

Concession agreement signed for Zadar Gazenica Cruise Port, Croatia

Global Ports Holding Plc ("GPH Plc" or "Group"), the world's largest independent cruise port operator, is pleased to announce that it has signed a 20-year concession agreement ("the Agreement"), between its wholly owned operating subsidiary Zadar International Port Operations d.o.o. and the Port Authority of Zadar for the operating rights of the Gazenica cruise port in Zadar, Croatia. This agreement follows the announcement made by GPH on the 19(th) March 2018 that the Port Authority of Zadar had issued an award decision to grant a concession to GPH subject to entering a final concession agreement.

Under the terms of the Agreement, GPH will from Q4 2018, use its global expertise and operating model to manage all of the cruise port operations at Gazenica port over the life of the concession. The concession includes cruise ship passenger port and terminal services, an international ferry terminal, Ro-Ro services, vehicles and passenger services. It also contains a commercial area of 2,400sqm, with leasable retail and office space. The cruise ports infrastructure includes a maximum draft of 13m and 1170m of total pier length to accommodate big ships. In 2017, Zadar welcomed 137k cruise passengers, with schedule calls for 2018 suggesting that this will grow to close to 150k passengers for 2018.

Zadar is a historical town on the Adriatic coastline in Croatia, it is well positioned near a number key cruise ports in the region, including Venice and it offers cruise passengers an easily accessible old town with Roman ruins, medieval churches and 16(th) century fortifications. While the surrounding areas offer a host of sites and activities for cruise passengers who wish to venture further afield.

Gazenica cruise port is the second new cruise port GPH has signed in 2018, increasing the number of ports we operate to 17 ports in 9 countries. The pipeline of new cruise ports remains strong and we will update investors on the pipeline as and when it is appropriate to do so.

Global Ports Holding, CEO Emre Sayin said:

"We are delighted to have signed the concession agreement for Zadar Gazenica cruise port and very much look forward to working with our local partners to position Zadar as an important cruise port in the Adriatic, driving an increase in passenger volumes to the port as well as developing the cruise port and wider visitor experience in Zadar to the benefit of cruise passengers, the port authority and the local community."

CONTACT

For investor and analyst enquiries: For media enquiries:

Global Ports Holding, Investor Relations Brunswick Group LLP

Martin Brown, Investor Relations Director Azadeh Varsi, Will Rowberry and Imran Jina

Telephone: [phone] Telephone: [phone]

   Email: [e-mail]                                                 Email: [e-mail] 

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September 12, 2018 07:06 ET (11:06 GMT)