Business
Share For Assets Programme
Share For Assets Programme.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n RNS Number : 6475Q Dolphin Capital Investors Limited 16 April 2009 \n \n16 April 2009\nDOLPHIN CAPITAL INVESTORS LIMITED \n('Dolphin' or the 'Company')\n\nShares-for-Assets Programme - Publication of the Asset List\n\nDolphin 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, releases the list of eligible properties ('Asset List') which will form part of its Shares-for-Assets Programme (the 'Programme'). \n\nThe main purposes of the Programme are to provide an exit opportunity for current shareholders, generate interest in the Dolphin shares by new shareholders, and increase the Net Asset Value per share.\n\nSubject to the terms and conditions of the Programme, which will be released by 27 April 2009, Dolphin shareholders will have the right to exchange common shares of the Company for properties included in the Asset List. The market value of these properties will be double the applicable market price of the shares tendered at the time of the exchange. The maximum market value of the assets to be exchanged will not exceed €50 million. Subject to this, there is no restriction to the number of properties for which a Shareholder can apply. \n\nThe Asset List, which solely comprises non-core trading properties located in Cyprus owned by Aristo Developers Limited ('Aristo'), has now been posted on Dolphin's website (www.dolphinci.com). The Asset List represents approximately 3% of Aristo's total asset value.\n\n\nThe Asset List comprises:\n\n\n\n124 completed and 88 nearly completed homes ranging from 46m2 to 256m2 of covered area located in the Paphos and Limassol districts\n\n\n\n\n\n22 residential plots ranging from 523m2 to 1,443m2 located in the districts of Paphos, Larnaca and Famagusta (Ammochostos)\n\n\n\n\n\n14 land sites, zoned for single or multi unit residential develop...