Dci Advisors Regulatory News (DCI)

3 Jan 2007 07:00

Dolphin Capital Investors Limited03 January 2007 For release 7.00am 3 January 2007 Dolphin Capital Investors Limited ("DCI" or the "Company") €30 million commitment in Seascape Hills in Greece Dolphin Capital Investors, a real estate investment company focused on theMaster-planned Residential Resort sector in Southeast Europe and managed byDolphin Capital Partners ("DCP"), is pleased to announce the signing of a newinvestment in Seascape Hills, situated in the region of Argolida, Greece. DCI is one of the largest real estate investment companies listed on AIM. Itfocuses on early-stage, large scale leisure-integrated residential resortsmainly in Greece, Cyprus, Croatia and Turkey. The Company's shares commencedtrading on AIM on 8 December 2005, having raised £70.7 million (€104 million) atan issue price of 68p, followed by a £202.7 million (€300 million) secondaryoffering at a price of 93p per share in October 2006. Highlights: • Seascape Hills ("Seascape" or the "Project") represents DCI's sixth investment in Greece and is intended to become an exclusive villa community including a luxury 40-room Aman hotel integrated with 40 Aman villas and spa. • The Site is situated near Porto Heli and is only a 10-minute-drive away from Kilada Hills Golf Resort, probably the first golf-integrated residential resort expected to come to market in Greece. It will span over 100 hectares of which approximately 50 hectares will be taken by the Aman Resort and the rest will serve as a land bank for additional phases. • DCI is committing a total of €30 million for a 99% shareholding in the Project company. The remaining shares are owned by a company controlled by Mark Potiriadis, the Project's development partner and Dolphin's existing development partner for both the Kilada Hills and Lavender Hills projects. Said Miltos Kambourides, Managing Partner of DCP: "Seascape Hills is expected tobe one of the most exclusive residential resorts in the Mediterranean regionand, following Kilada Hills Golf Resort, represents Dolphin's second investmentin the Argolida peninsula, a region of Greece which Dolphin considers ofstrategic importance for its investment plans." Further Details: Seascape Hills represents the acquisition of various land plots to create acontiguous site in excess of 100 hectares, located near Porto Heli in theArgolida peninsula of the Peloponnese. The site is situated approximately 180 kmfrom Athens International Airport and is accessible both by car and ferrytransfer within two hours. Nestled within the highest hills of the wider PortoHeli area, an established second-home holiday destination for affluent Greeks,the site offers almost 360o panoramic sea views and a serene environment, idealfor an exclusive, private getaway. The Project's exclusivity will be further established by a luxury hotel and spa.Dolphin is in advanced discussions with Aman hotels to develop a 40-room Amanhotel integrated with 40 Aman villas and spa on approximately 50 hectares ofland. The remaining land will be kept as a short-term land-bank expected tobenefit from significant capital appreciation. The Project will further benefit from the extended range of facilities to beoffered by Kilada Hills Golf Resort which is visible and easily accessible fromthe Site. The two projects also share the same development partner, namely MarkPotiriades and his team. DCI is committing €30 million to acquire the site and fund the design andpermitting process which is expected to conclude by the end of 2008. To date,approximately 57 hectares have been acquired or optioned and the acquisition ofthe remaining land is expected to be completed in the first quarter of 2007. For further information, please contact: Dolphin Capital Partners Limited Miltos Kambourides / Pierre Charalambides miltos@dolphincp.com / pierre@dolphincp.com Grant Thornton Corporate Finance Tel: +44 (0) 20 7383 5100 (Nominated Adviser) Philip Secrett Panmure Gordon Tel: +44 (0) 20 7459 3600 (Broker) Richard Gray / Dominic Morley / Andrew Potts Adventis Financial PR Annie Evangeli Tel: +44 (0) 20 7034 4757 Notes to Editors Dolphin Capital Partners DCP is an independent investment management business founded in 2004 by MiltosKambourides and Pierre Charalambides after leaving Soros Real Estate Partners. The DCP professionals combine extensive local knowledge and contacts withexpertise gained at some of the world's leading financial institutions. Theyspecialise in providing capital to rigorously selected real estate developmentsin Southeast Europe by joint venturing with local developers. For everydevelopment, DCP partners with an international and sophisticated network ofoperators, designers, master-planners, marketing agents and financialinstitutions. Dolphin Capital Investors In addition to Seascape Hills, DCI has closed investments in six other projects,namely Kilada Hills Golf Resort, Scorpio Bay Resort, Apollo Heights Polo Resort,Amanmila Resort, Lavender Hills Golf Resort and Sitia Bay Golf Resort,committing a total of €199 million in one year since its Admission to AIM inDecember 2005. DCI's investment objective is to provide shareholders with strong capital growthcombined with a low risk profile through investing in early-stage sophisticatedleisure-integrated resort developments in South East Europe (principally Greece,Cyprus, Croatia and Turkey) in partnership with leading developers andoperators. This information is provided by RNS The company news service from the London Stock Exchange