Global Ports Holding PLC Antigua & Barbuda Partnership (5801A)

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RNS Number : 5801A

Global Ports Holding PLC

30 May 2019

Global Ports Holding Plc

Antigua & Barbuda partnership with Royal Caribbean Cruises Ltd

Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent cruise port operator, is pleased to announce that it has agreed in principle to an equity partnership agreement with Royal Caribbean Cruises Ltd ("Royal Caribbean" or "RCCL") in relation to GPH (Antigua) Ltd ("company").

GPH (Antigua) Ltd, a wholly owned subsidiary of GPH, was recently awarded the exclusive 30-year concession in respect of the cruise port facilities at St John's Port in Antigua and Barbuda and Falmouth Harbour and Barbuda Island. Under the partnership agreement GPH will operate and manage the cruise port facilities, with both parties investing in the completion of the new pier, which will allow the port to handle Oasis class ships and a material upgrade of the current and new retail and F&B facilities.

Full financial closure including the final terms of the partnership agreement and commencement of the concession, is expected to occur before the end of July 2019. A further announcement, as appropriate, will be made in due course.

CONTACT

For investor and analyst enquiries: For media enquiries:

Global Ports Holding, Investor Relations Brunswick Group LLP

Martin Brown, Investor Relations Director Azadeh Varzi and Imran Jina

Telephone: [phone] Telephone: [phone]

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

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(END) Dow Jones Newswires

May 30, 2019 02:06 ET (06:06 GMT)