REG - Dolphin Capital Inv - Completion of the Playa Grande Disposal <Origin Href="QuoteRef">DOLC.L</Origin>

DCI AdvisorsAnnouncement

08/12/2016 07:05

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 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

This information is provided by RNS
The company news service from the London Stock Exchange
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