DGAP-News: MINGO BAY PROPERTIES PLC, announces 2010 Growth Plans and coming Audited Financial Statements
(firmenpresse) - Mingo Bay Properties PLC / Miscellaneous
07.06.2010 09:00
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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(at)MingoBayPLC.com
Web: www.MingoBayPLC.com
07.06.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 07.06.2010 - 09:00 Uhr
Sprache: Deutsch
News-ID 22012
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