SWAN HELLENIC
 

Swan Hellenic 

On 3 July 2007 the Swan Hellenic brand and other assets including domain names, customer databases, marketing material and memorabilia were acquired by the Company from The Right Honourable Lord Sterling of Plaistow. These assets have formerly been owned by P&O and Carnival Plc. Several senior members of Swan Hellenic's former management team have joined the Group and the brand will return to cruising in the summer of 2008. Swan Hellenic will trade as a brand of All Leisure Holidays and Explorer II will be renamed Minerva at the end of the 2007/08 programme.

The Company has entered into an agreement to acquire Atholl Shipping Corporation. Atholl Shipping Corporation entered into a lease of Minerva for seven years with the option to extend by a further four months.  When All Leisure Holidays takes delivery of Minerva in November 2007 the lease (assuming the option to extend is, in due course, exercised) will have approximately six years to run.

Minerva weighs 12,500 tons (gross) and offers 394 lower berths (including 12 cabins with private balconies). The Directors believe that the intimate nature of Explorer II caters for the mature customers that Swan Hellenic wishes to attract.  

www.swanhellenic.com