LONDON (ShareCast) - Real estate investment company Dolphin Capital has unveiled plans to reassess its strategy as it looks to narrow the discount of its share price to net asset value and speed up returns to shareholders.
The strategic review aims to streamline the group's development plans and cash in on its non-core assets, as well as bringing the interests of the investment manager in line with those of the shareholders.

The group has also appointed a number of non-executive directors, including Laurence Geller, who will replace former Goldman Sachs banker David Heller as the company's non-independent chairman, with Heller continuing as non-executive director.

Spectrum Gaming Capital's co-founder and chief executive, Robert Heller, will become an independent non-executive director.

Mark Townsend, executive director and fund manager at shareholder Asset Value Investors, and Justin Rimel, managing director of Third Point's real estate division will also join Dolphin Capital as non-executive directors.

Asset Value Investors and Third Point own an 8.82% stake and a 20.18% stake in Dolphin Capital respectively.

Dolphin Capital Investors shares were up 8.63% to 26.75p at 10:21 on Wednesday.

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