Last checked at 1 Jul 2009 07:00
1 July 2009
Speymill Deutsche Immobilien Company plc
("the Company")
Change of Administrator, Registered Office and Company Secretary
Speymill Deutsche Immobilien Company plc (SDIC.L), the pan-German residential property investment company listed on AIM, announces that it has appointed SMP Partners Limited to act as the Company's administrator with immediate effect.
As a result, the Company's registered office address will change to:
P.O. Box 227
Clinch's House
Lord Street
Douglas
Isle of Man
IM99 1RZ
Vincent Campbell will be appointed company secretary.
| Speymill Property Group Limited |
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| (Manager) |
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| Nigel Caine, CFO Funds |
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| Nick Harris, Manager |
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| +44 1624 640 860 |
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| Smith & Williamson Corporate Finance Limited | Fairfax I.S. PLC |
| (Nominated Adviser) | (Brokers) |
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| Azhic Basirov | James King |
| Joanne Royden-Turner | Andrew Cox |
| +44 20 7131 4000 | +44 20 7598 5368 |
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| Tavistock Communications Limited |
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| (Media & Investor Relations) |
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| Jeremy Carey |
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| Simon Hudson |
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| Gemma Bradley |
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| +44 20 7920 3150 |
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Notes to Editors:
Speymill Deutsche Immobilien Company plc is a pan-German residential property investment company, which listed on the AIM market of the London Stock Exchange in March 2006, raising £170 million (EPIC: SDIC.L). In May 2007, SDIC raised a further €250 million through a C Share placing (EPIC: SDCC.L). The Euro denominated fund aims to provide investors with a moderate level of income together with the prospect for long-term capital growth.
The German residential market is viewed as attractive to investors due to a number of factors including an undersupply of residential units, and the availability of assets at below replacement cost. Acquired properties should, through active management, also have the potential for increased rental rates and accordingly improved capital values and increased yield.
Speymill Property Group Limited is the appointed Manager of SDIC and, in conjunction with the Investment Adviser, GOAL Service GmbH, it identifies acquisition opportunities for the Company, which fit within its investment criteria.