News
Strong Assets Drive Mingo Bay PLC 5RB.F
Mingo Bay Properties PLC, or ("Mingo Bay") is a United Kingdom domiciled public company with its shares currently listed on the Frankfurt Stock Exchange (FSE). 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 recreational and residential resort properties. www.mingobayplc.com www.onebeachstreetvallarta.com www.playadelsolpv.com Authorized Shares: 100,000,000 Shares issued: 30,515,000 Shares in Float: 9,500,000 Skontro: Peter Koch GmbH, Wertpapierhandelsbank Primary Exchange: Frankfurt Stock Exchange ISIN: GB00B2NPLL36 WKN: A0NBLU SYMBOL: 5RB.F Mingo Bay markets the properties through its company, 1 Beach Development, Inc. as vacation ownership interests. Mingo Bay has U.S offices in Houston, Texas and Tampa Bay, Florida and its registered office in London, England. The Company has development projects in the Dominican Republic and Mexico. The Company currently owns, manages and markets ocean front resorts in Puerta Vallarta and Cabo San Lucas, Mexico. The Company currently has 36,024,000 (1.28) per share capital and projects positive EPS growth for 2010. The Business Plan Is to develop a portfolio of upscale properties managed through strategic partnerships. To accomplish this, our initial focus will be on desirable distressed resort properties, and developing a tropical waterfront "land bank", financed through the public company capital structure.. The resorts are primarily marketed as vacation ownership interests (also referred to as timeshare). Not only is there significant demand for such, it is also a successful business model providing the source to retire the acquisition or development cost. While the company may wish to take advantage of bringing the boutique style to opportunities in all segments of the residential resort, leisure properties and hospitality sector, the core business will be ocean-front resorts.
