Last checked at 8 Dec 2016 07:00
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 €140 million.
DCI has received €4.6 million cash consideration (of which €0.9 million will remain in escrow to cover certain potential post completion claims and liabilities) and all of the Company's €50 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 E. Kambourides |
miltos@dolphincp.com
|
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 |