Dolphin Capital Investors : 06.02.18Disposal

6 February 2018

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DOLPHIN CAPITAL INVESTORS LIMITED

('DCI' or 'Dolphin' or the 'Company',

together with its subsidiaries, the 'Group')

​Disposal of Triopetra project

DCI, a leading investor in high-end residential resorts in the eastern Mediterranean, is pleased to announce that, in line with its strategy to realise value through an orderly sale of assets, it has entered on 5 February 2018 into an agreement for the disposal of its 100% interest in the Triopetra project (the 'Disposal'), the Group's development project in the southern side of Rethymno prefecture Crete, to Deniage Ltd, a Cyprus entity affiliated with a large Saudi Arabian investment group (the 'Acquirer').

The Acquirer will purchase all of DCI's stake in Triopetra for a total cash consideration of €4.1m, of which an amount of €4m was received today and the remaining €100,000 will be withheld until the first anniversary from the transaction to cover any potential latent project liabilities.

The Disposal consideration of €4.1m is equal to the DCI historic investment cost and represents a premium to the Triopetra Net Asset Value after Deferred Income Tax Liabilities included in DCI's financial statements as at 30 June 2017.

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