Escalation against M. Kambouridis with DCI Officials

Grivalia Hospitality has acquired the Amanzoe Hotel Complex in Argolis, adjacent to the Kilada Project, for a cash consideration of 5.8 million and debt of 76.5 million.

The confrontation between Dolphin Capital Partners (DCP) of Miltos Kambouridis with London-listed Dolphin Capital Investors (DCI). DCP sued her DCI And at the same time sold out all Involved in which he owned it, while at the same time revoking the rights to use the trademark.”Dolphin Capitalof the listed company. In mid-March, the board of directors of the listed DCI announced the termination of cooperation with DCP, accusing M. Kambouridis – until now a 10% shareholder – of violating the terms of the agreement concluded between them and then announcing legal procedures to recover the lost revenue from its sale, according to his claim amanzo In Porto Heli in 2018.

Recall that in August of that year Grevalia Hospitality Got control of Amanzoe’s hotel complex Argoliswhich borders the Kilada project, for €5.8m in cash and carrying €76.5m in debt.

The seller was listed on the London Stock Exchange, DCI, while the buyer was, as announced and published, DCP, 100% of the interests of Miltos Kambouridis, who continued to manage the hotel, while at the same time acquiring the right to purchase up to 30% of the scheme. New property.

But DCI’s listed statement said it was now aware “that DCP entered into a nondisclosure option agreement with a buyer of Amanzoe in Porto Heli at the same time DCI sold its interest in the resort on August 2, 2018.” Responding to DCI’s allegations, Miltos Kambouridis and the DCP spoke of “unfounded, arbitrary and illegal” actions, calling the MFW’s allegations “unfounded and defamatory”. He also complained that “the entire affair arose from the willful and selfish actions of DCI directors Nick Paris and Nicolai Hulse”.

Miltos Kambouridis and his firm are back on Wednesday to announce that their solicitors (Covington & Burling LLP) have brought an action on April 6, 2023 before the competent High Court of England against DCI, by which DCP is asking DCI to be found guilty in a statement of fact recovery, “that there was no breach of the management agreement The investment by DCP and the termination of said agreement by DCI is illegal.” Further, DCP seeks full payment of DCI’s debts accumulated and in arrears as well as financial compensation for any loss and loss of profits.

Finally, DCP states that it is the sole legal owner of the “Dolphin Capital” trademark and will not allow its continued use by DCI and its affiliates. At the same time, it proceeded to liquidate all the shares it owned in DCI (9.73%) saying “it no longer retains any confidence in the ability of the current directors of DCI to exercise sound and efficient management and carry out its business plan”. The DCP and Miltos Kambouridis also announced that they would “take all necessary additional actions that may be required to defend their legitimate interests and reputation, both against DCI and its directors”.

It should be noted that all of the above developments do not affect One&Only Kea Island in which DCP is a shareholder and director and in which DCI has no interest.