ON Monday, Dolphin Cove Limited indicated that, at a board meeting on Wednesday, November 18, 2015, directors Gregory Burrowes, Marilyn Burrowes, Richard Downer and R Danvers Williams tendered their resignations, and Eduardo Albor Villanueva, Concepcion Esteban, Gibran Chapur and Travis Burke were appointed as directors.

The move follows acquisition of the controlling interest in the company by the Dolphin Discovery Group of Mexico which is headed by Dolphin Capital Company S de RL de CV.

The company secured 58.5 per cent of ordinary share capital of Dolphin Cove Limited which is listed on the Junior Market of the Jamaica Stock Exchange.

Over the last weekend, Dolphin Discovery has also given notice that it intends to embark on a mandatory acquisition of remaining shares within the required 30 day notice period.

An offer of $16.03 (or US$0.1338) per share is being offered for the outstanding shares. Dolphin Discovery said that the offer will be made by directors’ circular following board review.

Dolphin Cove traded for $13.82 per unit on Monday November 23.

Dolphin Discovery, founded 21 years ago in Cancun, operates through a number of subsidiaries and describes itself as the largest “swim with dolphins” group in the world.

The group operates 11 dolphinariums and parks in Mexico and one each in Tortola (BVI), Grand Cayman, Anguilla, St Kitts, and the Dominican Republic.

With the acquisition of Dolphin Cove Jamaica, the privately owned company adds four more dolphinariums for a portfolio of 22 parks and dolphinariums in nine countries.

World of Dolphin Inc, a subsidiary within the Dolphin Discovery Group paid prices ranging from a low of $13.70 (or US$0.1143) to a high of $16.03 (or US$0.1338) per share to acquire controlling interest.

On the transaction date, November 18, some 229,748,218 units in Dolphin Cove were traded with share price closing on that day at $16.01 per unit. Dolphin Cove shares closed at $13.82 yesterday.

The majority of the shares were purchased from the holdings of Stafford Burrowes, the founder and principal shareholder of Dolphin Cove.

Stafford Burrowes will remain as chairman of the Company.

Dolphin Cove Jamaica, founded 15 years ago by he and his wife Marilyn, now operates four dolphin habitats in Ocho Rios, Negril, Half Moon Resort, and Moon Palace Jamaica Grande. Dolphin Cove was listed on the Junior Stock Exchange in Jamaica 2010.

In October, Dolphin Discovery also acquired another attraction park in Panama City, Florida, and an amusement park in Italy.