Icreate Limited Announces Signed Letter of Intent for Investment in BVI Hospitality and Tourism

• The Board of Directors of iCreate Limited (transitioning to Kintyre Holdings (JA) Limited) has announced that the company has signed a Letter of Intent (LOI) to acquire a 20% equity stake in MVL, which operates Beach Club Resorts, Restaurants, and Lounges in the British Virgin Islands (BVI).
• This investment will provide iCreate with common shares that include full voting rights and entitlement to any dividends declared by the entity.
• MVL is a profitable company with strong cash flows that is looking to expand. The transaction is subject to satisfactory due diligence, including a review of MVL's financial statements, asset valuations, and legal documentation. Finalising the investment will depend on executing a definitive Share Purchase Agreement, which will disclose the agreed purchase price.
• The proposed name-change from iCreate Limited to Kintyre Holdings (JA) Limited marks the company's transformation from a digital and creative training entity to a diversified digital and creative group. This shift reflects its strategy to broaden its business lines.

(Source: JSE &NCBCM Research)