Business
Placing of Shares
Placing of Shares.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n Dolphin Capital Investors Limited\n14 June 2007\n\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\n DOLPHIN CAPITAL INVESTORS LIMITED\n\n\n PLACING OF NEW COMMON SHARES\n BY GOLDMAN SACHS INTERNATIONAL AND\n MORGAN STANLEY & CO. INTERNATIONAL PLC\n TO RAISE UP TO €500 MILLION\n\n\n\nDolphin Capital Investors Limited ('Dolphin', 'DCI' or the 'Company'), the\nleading investor in the residential resort sector in south-east Europe and one\nof the largest real estate investment companies listed on AIM, announces a\nplacing (the 'Placing') of new common shares of €0.01 each ('Common Shares') to\nraise up to €500 million (before expenses). The net proceeds of the Placing will\nbe used to fund the Company's ongoing investment programme.\n\n\nHighlights\n\n\n• Fundraising of up to €500 million\n\n• Goldman Sachs International and Morgan Stanley acting as lead\n managers, joint bookrunners and placing agents and Panmure Gordon acting as\n co-lead manager\n\n• Funds raised are to be used for Dolphin's ongoing investment programme\n and expected to be fully committed within the next 12 months\n\n• Will re-inforce Dolphin's position as one of the largest AIM quoted\n real estate investment companies\n\n\nDolphin has today released a trading and net asset value update.\n\n\nPlacing\n\n\nGoldman Sachs International ('Goldman Sachs') and Morgan Stanley & Co.\nInternational plc ('Morgan Stanley') have been appointed as lead managers, joint\nbookrunners and placing agents and Panmure Gordon (Broking) Limited ('Panmure')\nas lead manager in connection with the Placing. A placing agreement has been\nentered into on the date of this announcement (the 'Placing Agreement') under\nwhich Goldman Sachs and Morgan Stanley have each agreed, subject to the\nsatisfaction of certain conditions, to use reasonable endeavours to procure\nsubscribers for new Common Shares to be issued to raise up to a targeted €500\nmillion. The Placing is not underwritten.\n\n\nThe Placing is expected to close on or around 27 June 2007 and will be conducted\nin accordance with the terms and conditions s...