Business
Placing of new shares
Placing of new shares.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n Dolphin Capital Investors Limited\n04 October 2006\n\n\nFor release at 07.00 Wednesday October 4th 2006\n\n\nNot for release, publication or distribution in whole or in part, in or into the\nUnited States, Canada, Australia, the Republic of Ireland, the Republic of South\nAfrica, Japan or any other jurisdiction if to do so would constitute a violation\nof the relevant laws of such jurisdiction\n\n\n DOLPHIN CAPITAL INVESTORS LIMITED\n\n PLACING OF 217,959,896 NEW COMMON SHARES BY PANMURE GORDON\n\n AT 93 PENCE PER SHARE TO RAISE £202.7 MILLION (€300.0 MILLION)\n\n\nDolphin Capital Investors Limited ('Dolphin', 'DCI' or the 'Company'), the first\nreal estate investment company targeting residential resorts in south east\nEurope, principally Greece, Cyprus, Turkey and Croatia, announces a placing (the\n'Placing') of 217,959,896 new common shares of €0.01 each ('Common Shares') at a\nprice of 93 pence per share to raise £202.7 million (€300.0 million) (before\nexpenses). The net proceeds of the Placing will be used to fund the Company's\nongoing investment programme.\n\nHighlights:\n\n • Fundraising of £202.7 million (€300.0 million) at a price of 93 pence per \n share\n\n • Funds used for Dolphin's ongoing investment programme\n\n • Investment Manager has identified a pipeline of €280 million of projects, \n which are in the negotiation stage\n\n • Funds expected to be fully committed within the next 12 months\n\n • Existing projects are advancing with their development plans\n\n • Creates the second largest AIM quoted real estate investment company\n\nDefined terms have the meaning set out at the end of this announcement. Unless\notherwise identified, the rate of exchange used throughout this announcement is\nEuro/GBP of 1.48.\n\nPlacing\n\nPanmure Gordon, broker to the Company, has been appointed as sole bookrunner in\nconnection with the Placing and has entered into a placing agreement with\nDolphin under which it has agreed to use reasonable endeavours to procure\nsubscribers for 217,959,896 new Common Shares at 93 pence per share. The Placing\nis not underwritten.\n\nThe Placing is subject to admission of the new Common Shares to trading on AIM.\nApplication has been made for the new Common Shares to be admitted to trading on\nAIM and it is expected that admission will occur and dealings will comme...