Director/PDMR Shareholding

RNS Number : 2548U

Dolphin Capital Investors Limited

13 May 2008

 



13 May 2008        

DOLPHIN CAPITAL INVESTORS LIMITED

Director's Shareholding

Dolphin Capital Investors Limited ('DCI' or the 'Company') announces that Dolphin Capital Participations Limited ('DCPart'), a wholly owned subsidiary of Dolphin Capital Holdings Limited ('DCH') in turn owned 75% by Mr. Kambourides, has on 12 May 2008 charged 25,000,000 DCI common shares as security for a loan facility from Bank of Cyprus Public Company Limited ('BoC'). 

The loan facility can only be drawn down by DCPart should further purchases of common shares in the Company be made. The charging of the common shares constitutes a share dealing pursuant to the AIM Rules and by dint of his interest in DCPart, a notifiable dealing by Miltos Kambourides as a director of the Company. DCPart will maintain the voting rights of the charged shares and will remain entitled to any corresponding dividends payable to the charged shares, whilst the terms of the facility are complied with.  

To allow for BoC to take a legal charge over the 25,000,000 DCI common shares, the Company and Panmure Gordon have consented to a release of the terms of the DCPart lock-up undertaking for the 25,000,000 DCI common shares. The remaining 6,535,149 DCI common shares owned by DCPart and any of the 25,000,000 common shares which are subsequently released from the legal charge to BoC will remain subject to the terms of the DCPart lock-up undertaking which expires in March 2010. The 31,535,149 shares were issued to DCPart on 25 March 2008 following the exercise of over-performance warrants. 

Following the charging of the common shares held by DCPart, the total number of common shares in the Company controlled by Miltos Kambourides which are subject to a charge has changed as follows:

PDMR	Total number of shares controlled before notification	Total number of shares controlled following notification	Total number of shares indirectly owned before notification	Total number of shares indirectly owned following notification	Total number of charged shares before notification	Total number of shares charged to BoC after notification
Miltos Kambourides	56,824,449	56,824,449 (A)	42,618,337	42,618,337  (B)	22,090,000	47,090,000 (C)

Notes:

• controlled shares as a result of DCH  holding 3,199,300 common shares directly, 22,090,000 common shares though its wholly owned subsidiary Dolphin Capital Participations Two Limited and 31,535,149 through its wholly owned subsidiary DCPart.

• indirect interest, held as a result of Mr. Kambourides holding a 75% shareholding in Dolphin Capital Holdings Limited.

• common shares charged to BoC as security for BoC loan facilities where the financial and voting rights of 22,090,000 and 25,000,000 of the charged shares remain with DCPart2 and DCPart respectively whilst the terms of the corresponding facilities are complied with.

For further information, please contact:

Dolphin Capital Partners Limited                  

Miltos Kambourides / Pierre Charalambides

[e-mail] / [e-mail]

Grant Thornton Corporate Finance       Tel: [phone]

(Nominated Adviser)

Philip Secrett

Panmure Gordon                                  Tel: [phone]

(Broker)

Richard Gray / Dominic Morley / Andrew Potts

Financial Dynamics                              Tel: [phone]

Stephanie Highett            

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