26th Apr 2007 07:02
Dolphin Capital Investors Limited26 April 2007 26 April 2007 Dolphin Capital Investors Limited (DCI.L) Further re: acquisition of Aristo Developers Plc and Public Offer to acquire the remaining shares On 25 April 2007, and further to previous announcements, Dolphin CapitalAtlantis Ltd ("DCA" or the "Company"), a subsidiary of Dolphin Capital InvestorsLtd, acquired on market an additional 4.377% of the share capital in AristoDevelopers Plc ("Aristo") at prices not exceeding €2.15 per share. DCA has already acquired 26.32% of the share capital of Aristo and has alsosecured the acquisition of 59.54% of Aristo from Mr. Theodoros Aristodemou (andpersons associated to him), the principal shareholder and founder of Aristo. The transfer of the stake of 59.54% to DCA is subject to the approval of theCommission for the Protection of Competition and any other competent authority. Accordingly, DCA directly holds 30.697%, and a further 59.54% is held via escrowagents, representing a total of 90.237% of the share capital of Aristo. The Public Offer ("PO") document was filed yesterday. The process for approvalof the PO document by the Cyprus Stock Exchange Committee ("CySec") is expectedto be completed in less than 2 weeks. The Cyprus Anti-monopoly Commission("AMC") is expected to give its approval in approximately 6 weeks. Subject toall of the abovementioned approvals and to the 90% threshold level, reached byDCA on 25 April 2007, the Company will, upon termination of the 30-day POacceptance period, proceed to activate the "squeeze-out" provision to acquirethe rest of the free float of Aristo at the PO price. Contacts:Dolphin Capital Investors www.dolphincapitalinvestors.comMiltos E [email protected] A [email protected] Adventis Financial PRAnnie Evangeli 020 7034 4757 / 07778 507 [email protected] Grant Thornton Corporate Finance (Nominated Adviser) 020 7383 5100Philip Secrett Panmure Gordon 020 7459 3600(Broker)Richard Gray / Dominic Morley / Andrew Potts This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Dci Advisors