Mingo Bay Properties PLC
MINGO BAY PROPERTIES PLC, announces 2010 Growth Plans and coming Audited Financial Statements
Mingo Bay Properties PLC / Miscellaneous 07.06.2010 09:00 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- MINGO BAY PROPERTIES PLC, announces 2010 Growth Plans and coming Audited Financial Statements. London, June 7th, 2010 9:00am (GMT) Mingo Bay Properties PLC, (WKN: A0NBLU), ('Mingo Bay' or 'the Company') is a United Kingdom public company with its shares listed on the Frankfurt Stock Exchange (FSE). Its principal business is development, marketing and operating of 'boutique' ocean front resort properties. The Company's management has identified a unique industry wide growth opportunity resulting from the 2008 / 2009 financial collapse. The Company intends to increase the flow of funds, operating revenues, the value of the Company's current assets and aggressively expand its portfolio of properties through the purchase, development and operation of all segments of the residential resort, leisure properties and hospitality sector. Mingo Bay is focused on providing upscale, ocean front resort experiences in an intimate setting. Mingo Bay's concept is boutique-style properties, with 60-100 rooms, that will blend a cultural, historical or local feel, with stylish, warm and intimate surroundings, all underpinned by 'five-star' service. Each resort is expected to develop its natural personality. This will provide a strong differentiation from the branded and typical timeshare product. Initially the experience will be through two upscale Pacific coast properties in Mexico, Puerto Vallarta and Cabo San Lucas, in attractive 1 and 2 bedroom 'apartment' layouts. Mingo Bay is also developing a luxurious resort on the northern coast of the Dominican Republic that will include whale watching among its features. The property will follow the boutique-style concept, in its condominium style 'hotel', and individual villas, marrying the historic Spanish culture and style, with luxury accommodation, intimate dining and social areas, and enriching the experience with marina and casino operations. CEO Paul Self reports 'Our year-end 2009 consolidated audited financial statements will be ready for publishing in the coming weeks. 2009 was our formation year in which we successfully acquired ocean front land in the Dominican Republic. Through our strategic investment in 1 Beach St. Development LLC., a Florida based company, in February 2010, we acquired access to two upscale resorts in Mexico. As such, we have generated a strong springboard for our development objectives. Mingo Bay is well positioned, at a unique time within our industry, for rapid expansion of our resort portfolio. We look forward to continued sales, earnings growth and acquistions through 2010'. Our audited 2009 year-end consolidated financial statements will be released in the coming weeks, filed in the UK public records, with the Frankfurt Stock Exchange and published in the Investor Relations section of our web site. About Mingo Bay Mingo Bay Properties PLC, ('Mingo Bay') is a United Kingdom public limited company with its shares listed on the Deutsche Börse (Frankfurt Stock Exchange) (WKN: A0NBLU). The 'Company' refers collectively to Mingo Bay, its subsidiaries, joint ventures, affiliates and partners. Mingo Bay is in the business of acquiring, developing, and managing boutique recreational and residential resort properties. The company and its affiliates have approximately 150 employees engaged in management, marketing, development and service of its Mexican and Dominican Republic properties. Disclaimer: This press release contains forward-looking statements based on beliefs of Mingo Bay management. When used in this press release, words such as 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan' and 'project' are intended to identify forward-looking statements. Such statements reflect the views of Mingo Bay Properties PLC as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Mingo Bay Properties PLC disclaims any intention or obligation to update these forward-looking statements. Registered Office in England & Wales: Mingo Bay Properties PLC 2nd Floor, Vintners Place, 68 Upper Thames Street, London EC4V 3BJ, United Kingdom UK Company No. 04996793 For Information Contact: Email: IR@MingoBayPLC.com Web: www.MingoBayPLC.com 07.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden