Dolphin Capital completes €140m sale of Dominican Republic golf resort
Dolphin Capital Investors has completed the sale of its golf resort in the Dominican Republic for €140m.
Dci Advisors LTD
4.75p
16:55 19/04/24
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FTSE AIM All-Share
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17:08 19/04/24
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Real Estate Investment & Services
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17:09 19/04/24
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The AIM-listed company sold the Playa Grande Golf and Resort to a joint venture comprising an affiliate of Third Point, the company’s largest shareholder, an affiliate of Discovery Land and others.
So far, the company has received €4.6m in cash, of which €900,000 is earmarked to remain in escrow to cover claims and liabilities.
All of its €50m and $9.17m worth of convertible bonds, which were managed by Third Point, have been cancelled.
Shares in Dolphin Capital Investors were down 2.5% to 7.80p at 1046 GMT.