Tourism Holdings' sale of shareholding in Camplify Holdings Limited

Tourism Holdings Limited (ASX: $THL) has announced the sale of its 14.14% shareholding in ASX-listed peer-to-peer RV rental operator, Camplify Holdings Limited (CHL), with gross proceeds of approximately A$19.2 million.

Executive commentary on the sale

Just over a year on from the merger with Apollo Tourism & Leisure, we have reviewed our position on our Camplify shareholding and have decided to divest, given our focus on return on funds employed at thl and the fact that the shareholding is not currently delivering a return on funds. We continue to believe the peer-to-peer RV rental industry is a valuable one and we remain open to re-entering the industry at some point in the future.

Summary of THL's shareholding sale and outlook

Tourism Holdings Limited (ASX: $THL) has sold its shareholding in Camplify Holdings Limited, citing a focus on return on funds employed and the lack of current returns from the shareholding. The gross proceeds from the sale amount to approximately A$19.2 million. Despite the divestment, THL acknowledges the value of the peer-to-peer RV rental industry and expresses openness to potentially re-entering the industry in the future. The sale of the shares in CHL is expected to settle on 11 March 2024.