Dolphin Capital Investors Limited Completion of the Playa Grande Disposal (2595R)
08 December 2016 - 6:00PM
UK Regulatory
TIDMDCI
RNS Number : 2595R
Dolphin Capital Investors Limited
08 December 2016
8 December 2016
DOLPHIN CAPITAL INVESTORS LIMITED
("DCI" or "Dolphin" or the "Company",
together with its subsidiaries, the "Group")
Completion of the Playa Grande Disposal
DCI, a leading investor in high-end residential resorts in the
eastern Mediterranean and Panama, is pleased to announce the
completion of the disposal of the Playa Grande Golf and Resort
project to a joint venture comprising an affiliate of Third Point
LLC, an affiliate of Discovery Land Company and others, at an
enterprise value of EUR140 million.
DCI has received EUR4.6 million cash consideration (of which
EUR0.9 million will remain in escrow to cover certain potential
post completion claims and liabilities) and all of the Company's
EUR50 million and US$9.17 million 2018 Convertible Bonds have been
cancelled. The majority of these bonds were held by certain funds
managed by Third Point LLC.
For further information, please contact:
Dolphin Capital Investors
Andrew Coppel, CBE +44 (0) 7785 577023
Dolphin Capital Partners miltos@dolphincp.com
Miltos E. Kambourides
Panmure Gordon
(Broker)
Richard Gray / Dominic Morley / Andrew
Potts +44 (0) 20 7886 2500
Grant Thornton
(Nominated Adviser)
Philip Secrett +44 (0) 20 7383 5100
Instinctif
(PR Communications Adviser)
Mark Garraway +44 20 7457 2007
This information is provided by RNS
The company news service from the London Stock Exchange
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December 08, 2016 02:00 ET (07:00 GMT)