DCI Advisors Limited Government Grant to the Kilada Project (9673X)

TIDMDCI

RNS Number : 9673X

DCI Advisors Limited

27 December 2023

DCI Advisors Limited

(the "Company")

Payment of EUR1.5m in government grant to the Kilada Project

27 December 2023

The Board of DCI Advisors Ltd ("DCI" or the "Company") would like to inform shareholders that of the EUR6m Greek government grants the first tranche of EUR1.5m was approved and paid to our Kilada project.

The Kilada Country Club, Golf & Residences is our main asset. Finalising the 18-hole golf course plus the Country Club is therefore our highest priority and we believe that we should be able to reach that target during 2024.

While the application for the payment of the first EUR1.5 million of EUR6 million was expected to be approved in October we are delighted to have now received the approval of the first tranche of the Greek government grant. The remaining grants will be drawn down in stages dependent on further spending on developing the project concerned.

On the development side, construction of the centrepiece Jack Nicklaus Signature Golf Course at Kilada continues to progress. Currently 7 holes have been fully finalised, 3 holes are expected to be finalised in the next of couple of months and the remainder will be finalised during 2024.

Enquiries

 
 DCI Advisors Ltd 
  Nicolai Huls / Nick Paris, Managing Directors                                   nickparis@btinternet.com 
                                                                                  +44 (0) 7738 470550 
 Cavendish Capital Markets (Nominated Adviser & Broker) 
  William Marle / Jonny Franklin-Adams / Edward Whiley / (Corporate Finance) 
  Pauline Tribe (Sales)                                                           +44 (0) 20 7220 0500 
                                                                               -------------------------------------- 
 FIM Capital Limited (Administrator)                                            llennon@fim.co.im / gdevlin@fim.co.im 
  Lesley Lennon / Grainne Devlin (Corporate Governance) 
                                                                               --------------------------------------

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