Business
Business Update
DCI Advisors Limited has provided a shareholder update indicating a decisive phase in its strategy to realize asset value and return capital. The company has achieved significant progress, including receiving multiple expressions of interest for its Kilada asset, selling approximately €2.9 million of non-core land banks at Kilada, and securing bank financing proposals for Kilada. Furthermore, the resolution of outstanding tax matters in Cyprus is nearing completion, with an expected release of approximately €4.15 million in cash by the end of May from the Apollo Heights transaction. Since February 2025, the company has completed or is in the process of completing asset sales and settlements exceeding €48 million, with approximately €15 million still outstanding. The sale of its stake in Aristo Developers and Venus Rock for €31.1 million is a key milestone, with €8.7 million of cash consideration received to date and approximately €11 million remaining, contingent on Cypriot tax clearances. The company is also progressing with the sale of Livka Bay in Croatia, despite an outstanding bank loan of approximately €3.95 million. Overall, asset sales and financial management initiative...
About this update from Dci Advisors Limited
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.\n \nDCI Advisors Ltd\n(the \"Company\", the \"Group\" or \"DCI\")\nShareholder Update\n \nAhead of the Company's Annual General Meeting to be held on 26 May, the Directors wanted to provide shareholders with the following update. The Directors believe the Company has now entered a decisive phase in the execution of its strategy to realise value from its asset portfolio and return capital to shareholders.\nSince the Company's last shareholder update in September, further progress has been achieved across a number of key areas, most notably:\n• Receipt of multiple expressions of interest for Kilada, representing the most significant strategic development during the period.\n• The sale of approximately €2.9 million of non-core land banks at Kilada, which reduced funding requirements and strengthened the Company's cash position.\n• Receipt of bank financing proposals relating to Kilada.\n• Strong interest from international hotel operators regarding operation of the planned hotel at Kilada.\n• Substantial progress in resolving outstanding tax matters in Cyprus, including recent settlement of the Apollo Heights tax obligation, enabling preparation for the land transfer process, which is expected to complete by the end of May and release approximately €4.15 million in cash to the Company.\n• Progressing the resolution of legacy tax and operational matters while reducing operating costs and simplifying its structure.\nProgress on Asset Realisations\nSince February 2025, the Company has entered into and completed or is in the process of completing asset sales, transactions, and settlement arrange...