24th Aug 2007 11:00
Shore Capital Group PLC24 August 2007 For immediate release 24 August 2007 Shore Capital Group plc ("Shore Capital") Conclusion of Strategic Review by Dawnay Shore Hotels plc ("DSH") The Board of Shore Capital welcomes the announcement by Dawnay Shore Hotels plcthat it has successfully concluded its strategic review and is entering into alease with Barcelo Group ("Barcelo"). As Shore Capital is both a significant shareholder and has carried interest inDSH, the value achieved by the transaction (compared to the value used toprepare our 2006 results) will enable us to record a further profit from theseinterests in DSH whilst continuing to participate in DSH's future growth. TheBarcelo transaction is expected to enable DSH to unlock value through are-financing to fund a return of capital to its shareholders, including ShoreCapital. Shore Capital also wishes to announce that it intends to issue interim resultsfor the six months ended 30th June 2007 on Wednesday, 5th September 2007. Notes to Editors Dawnay Shore Hotels plc was established in July 2004 to acquire British 4 starhotels with funds raised from Shore Capital's institutional and high net worthclients. Shore Capital manages DSH in partnership with Dawnay, Day. Inaddition to management fees, Shore Capital has an effective interest of justunder 10% in DSH, through its shareholding and carry. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SIPP.L