Company Lets Investors Trade Shares For Land
Dolphin Capital Investors Ltd., a company which invests in vacation resorts, has a new offer for their shareholders. The company is offering a buyback program that will let those who own shares trade them for real estate assets the company already owns. Bloomberg reports that shareholders can exchange their stock for property with a value double that of their holdings.
The company is stopping new investment activities and delayed construction projects until the markets improve. It says that it has idle properties that it would take years to sell (especially in today's market). The program will run for four months as a test but could be renewed if successful. Dolphin Capital Investors projects include the Playa Grande Resort in the Dominican Republic, Pearl Island in Panama and the Kilada Hills Golf Resort in Greece.