DOLPHIN Cove Limited has added approximately US$2.533 million to its net book value after revaluing its Jamaican properties, an adjustment disclosed while its majority shareholder has agreed to sell its controlling stake and is seeking to add four directors.

Property Consultants Limited valued the group’s Jamaican land and buildings as at March 31, but its report reached Dolphin Cove’s board after the company had published its first-quarter financial statements.

The appraisal increases the carrying value of property, plant and equipment by approximately US$2.576 million. After adjustments to deferred taxation, the net increase in Dolphin Cove’s book value is approximately US$2.533 million.