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Trading Update and Notice of Results

3 Feb 2010 07:00

RNS Number : 5770G
Dolphin Capital Investors Limited
03 February 2010
 



3 February 2010

 

DOLPHIN CAPITAL INVESTORS LIMITED

("Dolphin" or the "Company")

 

 

Notice of 2009 Preliminary Annual Results and Trading Update

 

 

Dolphin Capital Investors Limited, the leading investor in the residential resort sector in south-east Europe and the largest real estate investment company listed on AIM by net asset value, will announce the Company's Preliminary Results for the year ended 31 December 2009 on 11 March 2010.

 

Since the last trading update of 3 December 2009, the Company has continued to make considerable progress with pre-development works (design, permitting, branding) and construction at its projects, and with the negotiation of project financing, potential joint ventures and other realizations.

 

Specific items to report at this point are:
 
·; Permitting and early construction works are progressing swiftly at The Porto Heli Collection (www.portohelicollection.com):
o Final construction permits were issued for four freehold Aman Villas on 1 February 2010.
o The construction permit for the Beach Hotel (Yiouli) was received on 27 January 2010. The Beach Hotel property, located in the bay of Porto Heli, is a 1970's hotel, which will be redeveloped into a high-end lifestyle hotel and yacht club comprising 23 hotel suites and 43 two-bed apartments serviced by the hotel (www.portohelicollection.com/hotels-beach-hotel.php).
o The Greek National Tourism Organisation (“GNTO”) Suitability application for the Chedi Hotel Villas phase was approved on 29 January 2010.
o Excavation works continue at the Aman Hotel site. Negotiations are being concluded with a number of construction firms following a bidding process for a turn-key construction contract for the next phase of works. Most of the bids received are significantly below original cost estimates, demonstrating the current favourable environment for the negotiation of construction contracts.
·; Triopetra’s Preliminary Environmental Impact Study was approved by the Crete regional authority on 19 November 2009 and the suitability file has been submitted to the GNTO for approval. Triopetra is an 11 hectare seafront site, along one of southern Crete’s most spectacular sandy beaches in Akoumia, Rethymno.
·; The total gross home sales booked by Aristo for December 2009 and January 2010 were €4.5 million, a 69% increase from the corresponding period in the previous year, consistent with a positive momentum recorded over the past six months.
·; Introductory websites have been launched for the following two Advanced Projects:
o Playa Grande: www.playagrande.com; and
o Pearl Island: www.pearlisland.com
Additional and more detailed information on progress will be released on 11 March 2010 in the Company’s Preliminary 2009 Results announcement or earlier if appropriate.
 

 

 

 

For further information, please contact:

 

Dolphin Capital Partners

Miltos E. Kambourides

miltos@dolphincp.com

Pierre A. Charalambides

pierre@dolphincp.com

Katerina G. Katopis

katerina@dolphincp.com

Grant Thornton

+44 (0)20 7383 5100

Philip J. Secrett

Panmure Gordon

+44 (0) 20 7459 3600

Richard Gray

Dominic Morley

Andrew Potts

Ashton Clanfield

Financial Dynamics, London

+44 (0)20 7831 3113

Stephanie Highett

stephanie.highett@fd.com

Rachel Drysdale

rachel.drysdale@fd.com

Olivia Goodall

olivia.goodall@fd.com

 

 

Notes to Editors

 

Dolphin Capital Investors (www.dolphinci.com)

 

Dolphin is the leading investor in the residential resort sector in south-east Europe and the largest real estate investment company quoted on AIM in terms of Net Assets.

 

Dolphin seeks to generate strong capital growth for its shareholders by acquiring large seafront sites of striking natural beauty in the eastern Mediterranean, Caribbean and Latin America and establishing sophisticated leisure-integrated residential resorts.

 

Since its inception in 2005, Dolphin has raised €884 million, has become one of the largest private seafront landowners in Greece and Cyprus and has partnered with some of the world's most recognised architects, golf course designers and hotel operators.

 

In April 2007, Dolphin acquired Aristo, one of the largest holiday home developers in south-east Europe. This enabled the enlarged Company to combine real estate private equity investment expertise with leading development experience and local market knowledge.

 

Dolphin's portfolio is currently spread over 63 million m² of prime coastal developable land and comprises 13 large-scale, leisure-integrated residential resorts under development in Greece, Cyprus, Croatia, Turkey, Panama and the Dominican Republic and more than 60 smaller holiday home projects through Aristo Developers in Cyprus.

 

Dolphin is managed by DCP, an independent real estate private equity firm.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTDLLFBBLFXBBK
Date   Source Headline
29th Apr 202411:32 amRNSHolding(s) in Company
16th Apr 202412:38 pmRNSShareholder Loan & Related Party Transaction
15th Apr 20242:26 pmRNSShareholder Update
2nd Apr 20243:33 pmRNSUpdate on legal actions
28th Mar 20249:43 amRNSLegal Update
14th Mar 20242:57 pmRNSFurther Shareholder Loan and RPT
27th Feb 20242:17 pmRNSHolding(s) in Company
23rd Feb 20245:00 pmRNSHolding(s) in Company
9th Feb 20245:07 pmRNSFurther Shareholder Loan
9th Feb 20243:39 pmRNSHolding(s) in Company
27th Dec 20232:23 pmRNSGovernment Grant to the Kilada Project
15th Dec 20239:36 amRNSResult of AGM
13th Dec 20238:53 amRNSShareholder Loan
13th Dec 20238:46 amRNSUpdate on legal actions
1st Dec 20233:44 pmRNSHolding(s) in Company
22nd Nov 202312:32 pmRNSAGM Timing
21st Nov 202311:30 amRNSNotice of AGM
16th Nov 20233:31 pmRNSShareholder Loan
6th Oct 20232:17 pmRNSShareholder Loan
29th Sep 20237:00 amRNSHalf-year Report
14th Sep 202312:32 pmRNSShareholder Loans and a Related Party Transaction
7th Sep 20234:17 pmRNSHolding(s) in Company
30th Aug 202310:22 amRNSDirector/PDMR Shareholding
29th Aug 202310:07 amRNSDirector/PDMR Shareholding
21st Aug 202311:46 amRNSHolding(s) in Company
8th Aug 20239:23 amRNSDirector/PDMR Shareholding
3rd Aug 20234:35 pmRNSDirector/PDMR Shareholding
1st Aug 20234:33 pmRNSNotification of Transaction of a PCA
27th Jul 20233:14 pmRNSDirector/PDMR Shareholding
30th Jun 20231:25 pmRNSAnnual Financial Report
29th Jun 20234:50 pmRNSShareholder Loans
7th Jun 20237:00 amRNSChange of Name
26th May 20232:19 pmRNSShareholder Loans
26th May 20239:41 amRNSKilada Funding
3rd May 20234:24 pmRNSHolding(s) in Company
28th Apr 20239:41 amRNSShareholder Loans
27th Apr 20232:45 pmRNSHolding(s) in Company
19th Apr 20237:00 amRNSShareholder Loans and Related Party Transaction
18th Apr 202310:30 amRNSShareholder Update
13th Apr 20234:21 pmRNSHolding(s) in Company
13th Apr 20233:58 pmRNSHolding(s) in Company
11th Apr 20234:36 pmRNSHolding(s) in Company
11th Apr 20233:12 pmRNSFiling of Claim Form
6th Apr 20234:50 pmRNSHolding(s) in Company
5th Apr 20234:39 pmRNSNew website now live
31st Mar 20236:13 pmRNSCompany Website
20th Mar 20237:00 amRNSTermination of Inv. Manager & Removal of Director
17th Feb 20233:48 pmRNSHolding(s) in Company
13th Feb 20237:00 amRNSDirectorate Change
23rd Dec 20229:07 amRNSCompletion of disposal of interest in OOKI

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