Admission to AIM
Cubus Lux plc
03 March 2006
Cubus Lux plc ('Cubus Lux' or the 'Company')
Admission to AIM
Cubus Lux is pleased to announce, that following, inter alia, the acquisition of
Plava Vala d.o.o, the placing of new ordinary shares and the passing of the
resolutions at the Extraordinary General Meeting of the Company held on 3 March
2006, the enlarged issued share capital of the Company has been admitted to
trading on the Alternative Investment Market of the London Stock Exchange.
Dealings will commence at 8.00am today.
The number of ordinary shares in issue is 67,352,001.
For further information please contact:
Gerhard Huber, Executive Chairman, Cubus Lux plc: 020 8816 7088
Oliver Cairns / Romil Patel, Corporate Synergy Plc: 020 7448 4400
Notes to Editors
Cubus Lux plc currently operates three casinos in Croatia, where it is the
second largest casino operator. Whilst the Directors believe there is further
opportunity for the Company to grow in the casino market in Croatia, they have
felt for some time that the Company needs to expand into other tourism and
leisure sectors. This has resulted in the acquisition of Plava Vala, which owns
a licence to build and operate a marina under the brand name Olive Island
Marina, on the island of Uglijan, Croatia.
On 19 July 2005, Gerhard Huber was appointed Executive Chairman of the Company,
bringing with him 4 years' experience of tourism and leisure in Croatia. He and
Christian Kaiser, the Proposed Director, have been involved with the development
of Plava Vala for 3 years.
Cubus Lux's strategy is to become the pre-eminent tourist and leisure business
in Croatia. The Directors intend to achieve this through:
• the development of the existing and future marinas;
• undertaking junket marketing initiatives to increase the profitability of the
Company's casinos, which if successful, will lead to the opening of further
casinos in the future; and
• identifying other leisure opportunities such as hotels and golf courses. The
Directors have already begun to work on a proposal to establish one of the first
golf resorts in Croatia. A 220 hectare site has been identified and the
Directors anticipate the expected project will encompass two 18 hole golf
courses, a village with approximately 300 apartments and 100 golf chalets and a
hotel with approximately 300 room. Approximately €400,000 of the proceeds of the
Placing will be used to progress the development of this golf resort.
The Directors and the Proposed Director believe that their collective experience
in the tourist and leisure industry, combined with skills in the areas of
finance and management, provide a solid platform to implement the Company's
business strategy successfully.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 1 hour ago Weir Group
- 1 hour ago MING YANG SMART ENERGY GROUP LIMITED
- 4 hours ago Wynnstay Group
- 4 hours ago Power Probe PLC
- 4 hours ago Literacy Capital