DCI Advisors Ltd.

Board/Management Information • Oct 15, 2020

National Storage Mechanism | Additional information

RNS Number : 2514C

Dolphin Capital Investors Limited

15 October 2020

15 October 2020

DOLPHIN CAPITAL INVESTORS LIMITED

("DCI" or "Dolphin" or the "Company"

and together with its subsidiaries the "Group")

Update in relation to Cyprus Citizenship Investment Programme

Dolphin, an investor in high-end residential resort developments in the eastern Mediterranean, notes that the  Cyprus government announced on 13 October that it would cancel the Cyprus citizenship investment programme with effect from 1 November.  The programme allowed foreign investors to apply for Cypriot citizenship upon making a minimum €2 million investment in, inter alia, Cyprus properties.

The Company also notes that the Cyprus authorities have indicated that they would explore the introduction in the near future of alternative investment incentives to replace the existing citizenship programme.

The Cyprus Permanent Residence programme which offers permanent residence status to foreign individuals with a minimum €0.3 million property investment in Cyprus remains in place.

The Company is monitoring these developments in close cooperation with the management team at Aristo Developers Ltd ("Aristo"), the Company's 47.9% associate and one of the largest Cyprus property developers. Aristo is likely to remain affected by the COVID-19 pandemic, exacerbated by the expected impact in the short term of the existing citizenship investment programme cancellation. Additional updates will be provided  as appropriate.

For further information, please contact:

Dolphin Capital Investors Andrew M Coppel, CBE	+44 (0) 7785 577023
Dolphin Capital Partners Miltos E Kambourides	[email protected]
Panmure Gordon (Broker) Dominic Morley	+44 (0) 20 7886 2500
Grant Thornton UK LLP (Nominated Adviser) Philip Secrett	+44 (0) 20 7383 5100
Instinctif (PR Communications Adviser) Mark Garraway	+44 (0) 20 7457 2007

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDEASESFASEFFA