Dolphin Capital Investors Ltd on Wednesday said it entered into the first two of several shareholder loan agreements, intended to provide additional working capital for the company.

The shareholder loans are expected to amount to up to $2.0 million in total, and aside from the dates of initiation, they will each have identical terms to one another.

Dolphin Capital is a real estate investment company focused on the residential resorts sector in emerging markets.

One of the loans has now been advanced to Dolphin, and amounts to $350,000.

The shareholder loans are for a 12-month term bearing an interest rate of 12% per year, with no fees payable on disbursement or repayment. Dolphin plans to repay the loans from the proceeds of the sale of company assets.

However, if the company has not repaid the loans within six months from their initiation, collateral in the form of security over certain company assets will be put in place.

Dolphin disclosed that its Managing Director Nicolai Huls, is also a director of Discover Investment Co, with which Dolphin has entered into one of the shareholder loan agreements for $350,000 in total.

Shares in Dolphin were unchanged at 3.80 pence each in London on Wednesday afternoon.

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