AIM Rule 26

The information is being provided for AIM Rule 26 compliance and was last updated on 19 June 2019.

Description of Business, Country of Incorporation and Main Countries of Operation

We are a leading investor in the residential resort sector in emerging markets, seeking to generate strong capital growth and cash returns for our shareholders.

We acquire large seafront sites of striking natural beauty in the eastern Mediterranean and develop them into sophisticated leisure integrated residential resorts, in partnership with some of the world’s most recognised architects, golf course designers and hotel operators.

The Company is incorporated in the British Virgin Islands and its main countries of operation are Greece, Cyprus, Turkey & Croatia.

Board of Directors

Directors' Biographies

See Board of Directors.

Board Committees

See Corporate Governance.

Admission Document, Constitutional Documents and Circulars

Latest Admission Document

See AIM Admission Document.

Constitutional Documents

See Articles of Association.

Shareholder Circulars

See Shareholder Circular - Published: 02 December 2016 and Shareholder Circular - Published: 10 April 2019.

Results of the Extraordinary General Meeting (“EGM”) held at 2 May 2019

Following the Company’s circular to shareholders dated 10 April 2019 62% of Shareholders represented in the EGM voted FOR the Resolution and 38% voted AGAINST.

The exact voting results are set out in the table below:

Vote Type Voted Voted %
FOR 310,904,071 61.91%
AGAINST 191,251,731 38.09%
VOTES WITHHELD 88,997,151

 

In response to the voting results, Andrew Coppel CBE, Non-executive Chairman said:

“We are pleased that the resolution was passed at the EGM, enabling the Company to move to the next stage of its strategy to return capital to shareholders.

We have engaged with all our major shareholders prior to the release of the circular and are aware that a number of them voted against the resolution, principally because they disagreed with the Board’s view on the suitable level of incentivisation to the investment manager to expedite the pace of disposals and maximise sales prices. We will continue to engage with all shareholders through the remaining life of the Company.”

 

Governance Code and UK City Code on Takeovers and Mergers

See Corporate Governance.

The Company is not subject to the UK City Code on Takeovers and Mergers.

Exchanges and Shares

Exchanges

The Company’s shares are quoted and traded on the Alternative Investment Market (AIM) of the London Stock Exchange.

Issued Share Capital

The total number of common shares of €0.01 each in issue is 904,626,856. There are no restrictions on transfer of shares.

Shares Held in Treasury

There are no shares held in treasury.

Shares Not in Public Hands

The total number of common shares of €0.01 each not held in public hands is 277.727.101 (30,70%).

Significant Shareholdings

See Shareholders

Information Last Updated: 19 June 2019

Annual and Interim Reports
Announcements
Advisers

See Advisers.