TIDMDCI
RNS Number : 7408D
Dolphin Capital Investors Limited
01 July 2021
1 July 2021
DOLPHIN CAPITAL INVESTORS LIMITED
("Dolphin", "DCI" or the "Company")
Directorate Changes
Dolphin, an investor in high-end resort developments in the
eastern Mediterranean announces that, following consultation with
the majority of the Company's shareholders, the Investment Manager,
its Nominated Adviser and the existing Board, the following changes
took place on the 30 June 2021:
-- Martin Adams, Nicholas Paris and Nicolai Huls join the Board
as non-executive Directors, with Martin Adams becoming
Chairman,
-- Andrew Coppel, Graham Warner and Mark Townsend stepped down
from the Board as non-executive Directors.
Miltos Kambourides, the founder of Dolphin, remains on the Board
as a non-independent director.
Shareholders approved, at a General Meeting on 2 May 2019, a
resolution to extend the Divestment Period and continuation of the
Company for two years to 31 December 2021. The new Board intends to
set out its strategy and revised management compensation proposals
at a General Meeting, which will be convened before the end of the
current financial year, to consider a further extension to the
Divestment Period.
Miltos Kambourides, founder of Dolphin, commented:
"I would like to express my appreciation to Andrew, Graham and
Mark for their commitment and contribution to the Board over the
last six years. Together, we have established a platform in
difficult circumstances, to enable a return of capital to
shareholders. I welcome the new Board members and I look forward to
working with them towards formulating a strategy that reflects the
post-Covid environment."
A summary of the biographies of the new members of the Board and
the AIM Rules for Companies Schedule Two (g) disclosure is provided
below.
Martin Adams.
Martin has served for over 30 years in executive and
non-executive capacities, both as chairman and director of over 20
closed-end funds and fund-invested operating companies listed on
European stock exchanges; and on the boards of fund management
companies. His investment experience encompasses private equity,
property, infrastructure and renewables assets, predominantly in
Asia and Europe. In his capacity as chairman of various fund
boards, he has both renegotiated management contracts and
implemented strategies to realise illiquid assets over time in
order to return capital to shareholders.
Martin is currently the Chairman of Eastern European Property
Fund Limited, senior independent director of Marwyn Value Investors
Limited and a non-executive director of National Investment and
Infrastructure Fund Limited in India, Metage Funds Limited and
Vietnam Phoenix Fund Limited. He started his career with the Lloyds
Bank group, where he was based in the UK, Hong Kong, Portugal and
the Netherlands. He is resident in Portugal.
Nicholas Paris.
Nick is a Fellow of the Institute of Chartered Accountants in
England and Wales, a Member of the Chartered Alternative Investment
Analysts Association and a Fellow of the Chartered Institute for
Securities & Investment. He has more than 30 years' experience
in closed end funds. In his career, he has developed significant
expertise in analysing, launching and investing in such funds and
he has acted as an independent non-executive Director of a number
of stock exchange listed funds.
Nick is a very experienced shareholder in, and director of,
funds holding illiquid assets in challenging markets. He was a
portfolio manager within the LIM Advisors Group until September
2020 where he was responsible for their investments in closed end
funds. He is also the Managing Director of Myanmar Investments
International Limited, a London listed closed end fund,
Non-Executive Chairman of ASEANA Properties Limited and has
recently joined the Board of Nominees of Fondul Proprietatea S.A.
which is listed in both Romania and London. He was formerly a
director of Global Resources Investment Trust plc, RDL Realisation
PLC and TAU Capital PLC which were all listed in London. He is
resident in the UK.
Nicolai Huls.
Nicolai is an experienced investment analyst and fund manager
with more than 20 years' experience and a particular focus on
researching investment funds having worked for a number of leading
private banks in Europe including Bank Insinger de Beaufort,
Schretlen & Co, Rabobank Private Banking and LCF Edmond de
Rothschild. Currently he is a director and sits on the investment
committee of Discover Investment Company and overseas investment
portfolios that invest in closed end funds.
Nicolai has worked for more than 10 years supporting
shareholders and investors in the analysis of international listed
funds' holdings of alternative assets and subsequently monitoring
and advising boards and management teams on the monetisation of
their investment portfolios. He is resident in The Netherlands.
Information communicated within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
Enquiries:
Dolphin Capital Investors
Martin Adams martin@vietnamfund.com
(Incoming chairman)
Dolphin Capital Partners
Miltos E Kambourides miltos@dolphincp.com
-------------------------
Panmure Gordon (Broker)
Dominic Morley +44 (0) 20 7886 2500
-------------------------
Grant Thornton UK LLP (Nominated
Adviser)
Philip Secrett +44 (0) 20 7383 5100
-------------------------
Instinctif (PR Communications Adviser)
Rosie Driscoll +44 (0) 20 7457 2020
-------------------------
Information in respect of Martin Adams, Nicholas Paris and
Nicolai Huls as required by Schedule 2 (g) of the AIM Rules for
Companies is detailed below.
Martin Michael Adams, aged 62, holds no shares in the Company,
and other than that as set out below, there is no further
information to be disclosed under Schedule Two (g) of the AIM
Rules. Martin Adams is, or has been, a director of the following
companies during the previous five years:
Current Directorships:
Eastern European property Fund Limited
Vietnam Fund Management Company Limited
VFMC Service Company Limited
Vietnam Phoenix Fund Limited
Marwyn Value Investors Limited
Metage Funds Limited
National Investment and Infrastructure Fund Limited
The Paulson-Ellis Charitable Trust
Directorships in the last five years:
Vietnam Investment Advisers Limited
Aberdeen Latin American Income Fund Limited
Isocrates Limited
Kubera Cross-Border Fund Limited
Kubera Cross-Border Fund (GP) Limited
Kubera Cross-Border Fund (Mauritius) Limited
Terra Catalyst Fund
Trading Emissions plc
TEP (IOM) Limited
Trinity Capital Plc
Trinity Capital Mauritius Limited
VFMC Limited
Vina Capital Vietnam Opportunity Fund Limited
Nicholas John Paris, aged 60, holds no shares in the Company,
and other than that as set out below, there is no further
information to be disclosed under Schedule Two (g) of the AIM
Rules. Nicholas Paris is, or has been, a director of the following
companies during the previous five years:
Current Directorships/Partnerships:
ASEANA Properties Limited
Brewery Mews Residents Management Limited
Fondul Proprietatea S.A.
LIM Advisors (London) Limited
MIL 4 Limited
Myanmar Investments International Limited
Purbeck Capital Limited
Shangri-la Healthcare Investment Limited
Purbeck Advisers LLP
City International Hospital Company Limited
Hoa Lam - Shangri-La Healthcare Limited Liability Company
Hoa Lam Services Company Limited
Directorships in the last five years:
RDL Realisation PLC
Nicolai Henri Pierre Hubert Huls, aged 47, holds 775,000 shares
in the Company, and other than that as set out below, there is no
further information to be disclosed under Schedule Two (g) of the
AIM Rules. Nicolai Huls is, or has been, a director of the
following companies during the previous five years:
Current Directorships:
Betsy Innovations B.V.
Discover Investment Company Limited
PBB Holding B.V.
Directorships in the last five years:
None
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END
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