Dci Advisors Regulatory News (DCI)

20 Jul 2006 09:14

Dolphin Capital Investors Limited20 July 2006 For release 09.00am 20 July 2006 Dolphin Capital Investors Limited ("DCI" or the "Company") €5 million commitment in Amanmila Resort in Greece Dolphin Capital Investors, the real estate investment company focused on theMaster-planned Residential Resort sector in Southeast Europe and managed byDolphin Capital Partners, is pleased to announce the signing of its investmentin Amanmila Resort in Greece. DCI is one of the largest foreign real estate investors currently dedicated toGreece, Cyprus, Turkey and Croatia. The Company's shares commenced trading onAIM on 8 December 2005, having raised £70.7 million (€104 million) to invest inthe target region. Highlights: • The Amanmila Resort, to be developed over 65 hectares of a virgin peninsula in the Cycladic islands, is expected to become Europe's first villa-integrated Aman Resort comprising 40 rooms and 40 villas. • DCI is jointly developing the Resort with three other equal partners: Aman Resorts - the world's most exclusive resort operator, John Heah - award winning architect and S&B Industrial Minerals - Greece's largest mining company. • The remaining sea-front land of the peninsula (approximately 135 hectares) will be owned by a joint venture between DCI and S&B, therefore allowing DCI to own a larger land site than originally presented in the DCI admission document in December 2005. • DCI is committing €5 million to this investment to fund its share of the land acquisition and the first phase of the Resort's development. • With this commitment, DCI's total commitments since its December 2005 listing have reached €75 million. Said Miltos Kambourides, the Managing Partner of Dolphin Capital Partners: "Theinclusion of S&B into the Amanmila partnership strengthens even further thedevelopment proposition. We firmly believe that this Aman Resort has thepotential to become the most exclusive villa integrated hotel in theMediterranean region." Further Details: The Amanmila Resort involves the development of Europe's first villa-integratedAman Resort, on the island of Milos, in Cyclades, Greece. The Resort is expectedto comprise a 40 room Aman hotel together with 40 Aman Villas and will bepositioned at the highest end of the hotel and real estate market. The Resort will be located on an unspoilt peninsula with approximately 5kilometres of shoreline and with its own natural harbour. It is currently beingdesigned by award winning architect John Heah, and managed by Aman Resorts,operator of the world's most exclusive resorts. The Villas will be branded,serviced and sold by Aman. Dolphin has signed a Shareholders' Agreement with S&B Industrial Minerals S.A.("S&B"), a company listed on the Athens Stock Exchange, to form a 50/50 jointventure ("JV") which will own 100% of the sea-shore land of the peninsula whichis approximately 200 hectares. From this land 65 hectares will be contributed tothe Amanmila Resort where the JV will be a 50% shareholder with the other 50%being split equally between Aman and Heah. The remaining 135 hectares representa land bank for future development expected to significantly increase in valueas the Resort's development progresses. Partnering with S&B brings the following additional benefits: 1. The Dolphin-S&B JV will control the entire sea-front of the peninsula,approximately 200 hectares (versus the 140 hectares that were to be originallyacquired) as S&B and related companies will be contributing the adjacent landthey currently own into the JV. 2. S&B is one of Greece's most successful industrial companies with a strongpresence, trading history and influence on the island of Milos. The land transfer and planning application process has already begun and isexpected to conclude in approximately 18 months. The effective cost of the 200hectares is approximately €6 million. DCI is committing €5 million to this JV in order to fund its share of the landacquisition and the first phase of the Resort's development. With thiscommitment, DCI has already committed €75 million of the funds raised from itsDecember 2005 listing. Project Amanmila is one of the six projects that were presented in theProspective Investment Portfolio section of Dolphin's December 2005 AdmissionDocument. Together with the Kilada Hills Resort, Scorpio Bay Resort and ApolloHeights Resort, DCI has thus far closed four out of six of the prospectiveprojects presented. For further information: Dolphin Capital Partners Limited Tel: +30 210 3614 255Miltos Kambourides / Pierre Charalambidesmiltos@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 Tel: +44 (0) 20 7034 4765Peter Binns Tel: +44 (0) 20 7034 4760Annie Evangeli Tel: +44 (0) 20 7034 4757 Notes to Editors Dolphin Capital Partners ("DCP") 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 and matching local developers with DCP's internationalnetwork of sophisticated operators, designers, master-planners, marketing agentsand financial institutions. This information is provided by RNS The company news service from the London Stock Exchange