Further to our call last week, it's our understanding that; TLB would still like to acquire Guludo and we remain keen to conclude a deal with TLB. The main barrier preventing this partnership is funding. We discussed management as a possible intervening solution.
But, what if we could look beyond or past the funding challenge?
We believe there could be a solution, if we are all bold enough to think "outside-the-box" to enable us to proceed prior to TLB securing funding.
That solution is; we hand Guludo over to TLB. TLB operate and manage Guludo as if it were their own asset, with full autonomy. We'd require no share of the profit, or operational input. Essentially to the outside world, Guludo would belong to TLB. TLB would be free to upgrade, develop and manage the property as they see fit.
Where's the catch?
There really isn't one, or we don't believe there is one. Both parties get what they want.
- We'd agree a binding version of the already exchanged LOI for a fixed period (3 years suggested).
- TLB would agree within this period to purchase Guludo (which is what we all want)
- In the interim period TLB can upgrade, operate and establish Guludo as the flagship and first TLB Epic Journeys property, with full rights to 100% of profits generated.
- TLB would also be responsible for covering all running costs and any losses incurred before profitability was achieved, but we believe this period would be short and costs easily managed to a low or minimal level.
We believe the synergy between Guludo and TLB's Epic Journeys is perfectly aligned and the benefits of this scenario for both parties are huge.