Global Ports signs 30-year agreement with Antigua and Barbuda government to manage cruise operations

Writer, Stock Market Wire
Friday, February 1, 2019 - 10:15

Global Ports, an independent cruise port operator, it had signed a 30-year concession agreement with the Government of Antigua and Barbuda to manage cruise port operations in Antigua on an exclusive basis.

Under the terms of the concession agreement, the company would finance the completion of the ongoing construction of a new pier which would allow the port to handle Oasis class ships.

The Group also agreed to invest in improving the current retail facilities and designing and financing the construction of new purpose built retail and F&B facilities.

'The successful commencement of the concession is subject to a number of final conditions being satisfied, including, amongst others, the group securing suitable financing,' the company said.

'Full financial closure and commencement of the concession is expected to occur in H1 2019, although there can be no certainty as to the timing or that the final conditions will be satisfied.'

At 10:15am: (LON:GPH) Global Ports Holding Plc share price was +7.25p at 389.25p


Related content

Broker Forecast - Barclays Capital issues a broker note on Global Ports Holding Plc

Barclays Capital today reaffirms its overweight investment rating on Global Ports Holding Plc (LON:GPH) and cut its price target to 560p (from 590p).

Broker Forecasts...

Thu, 14/03/2019 - 10:30


Broker Forecast - Barclays Capital issues a broker note on Global Ports Holding Plc

Barclays Capital today reaffirms its overweight investment rating on Global Ports Holding Plc (LON:GPH) and cut its price target to 590p (from 920p).

Broker Forecasts...

Mon, 22/10/2018 - 10:10


Global Ports sees full-year results at upper end of target as losses narrow

Cruise port operator Global Ports said it expected full-year results to come in at the upper end of its target range, after record revenue helped...

Fri, 17/08/2018 - 07:20


Global Ports inks 15-year management agreement for Havana cruise port

Cruise port operator Global Ports has announced that it has signed a 15-year management agreement with the Cuban company Aries S.A., for the operation of...

Tue, 22/05/2018 - 09:40


Global Ports appoints Mark Robinson as chief operating officer

Global Ports Holding said it had appointed Mark Robinson as its chief commercial officer.

Robinson has held senior roles at Portaventura World Parks & Resorts,...

Wed, 28/02/2018 - 13:30