Last checked at 31 Jul 2009 11:00
31 July 2009
Speymill Deutsche Immobilien Company plc ("SDIC" or "the Company")
Appointment of Non-Executive Director
Speymill Deutsche Immobilien Company plc (SDIC.L), the pan-German residential property investment company listed on AIM, is pleased to announce the appointment of Jim Mellon as a Non-Executive Director with immediate effect.
James (Jim) Mellon (aged 52) has a Masters degree in Philosophy, Politics and Economics from Oxford University. He began his career working in fund management in the USA and in Asia.
Mr Mellon is the co-chairman and founder of the Hong Kong listed Regent Pacific Group Limited and also a director of the AIM quoted Charlemagne Capital Limited, the leading emerging market asset manager. He is also non-executive Chairman of the Isle of Man based AIM quoted property investment management, Speymill plc. With over twenty-five years of experience, he has substantial knowledge of global fund management and public company management and governance, with considerable experience in the closed end funds markets. This experience is expected to contribute to the Board's ongoing duties to ensure the true value of the Company's underlying net assets and the Company's strategic value are properly communicated to and recognised by the market.
In addition, Mr Mellon maintains a close involvement in both German residential and commercial property via his indirect interest in Burnbrae Germany and its subsidiaries. Mr Mellon has an interest in 37,904,604 ordinary shares in SDIC, both directly as well as indirectly through his interests in Galloway Limited and Speymill plc, representing 11.24% of the issued share capital in the Company. Mr Mellon is also an indirect 44.8% shareholder of Speymill plc, of which Speymill Property Group Limited, the Company's manager, is a wholly owned subsidiary.
Mr Mellon will offer himself for re-election by shareholders at the first Annual General Meeting following his appointment.
The following are Mr Mellon's current directorships/partnerships and those held within the last five years:
| Current Directorships / Partnerships | Past Directorships / Partnerships |
| Arc Rainbow Fund | Mago Resources (PTY) Limited |
| Asian Opportunity Fund 1998 - Series I | Regent Markets Group Limited |
| AstroEast.com (Hong Kong) Limited | Regent Markets Group Limited |
| AstroEast.com Limited | Regent Markets Holdings Ltd. |
| Betinternet.com Ltd | The New Korea Growth Fund |
| BFS Absolute Trust Limited | Titec BVI Ltd |
| Burnbrae Charlottenburg GmbH | Undervalued Assets Fund - Series One |
| Burnbrae Commercial GmbH | Uramin Inc |
| Burnbrae Development GmbH | |
| Burnbrae Friedrichstein GmbH | |
| Burnbrae Germany East GmbH | |
| Burnbrae Germany GmbH | |
| Burnbrae Germany North GmbH | |
| Burnbrae Germany South GmbH | |
| Burnbrae Germany West GmbH | |
| Burnbrae Group Limited | |
| Burnbrae Kreutzberg GmbH | |
| Burnbrae Limited | |
| Burnbrae Lutzowstrasse GmbH | |
| Burnbrae Mitte GmbH | |
| Burnbrae Prenlauer Berg GmbH | |
| Burnbrae Residential GmbH | |
| Burnbrae Sachsen GmbH | |
| Burnbrae Schonefeld GmbH | |
| Burnbrae Spandau GmbH | |
| Burnbrae Tempelhof GmbH | |
| Burnbrae Tiergarten GmbH | |
| Burnbrae Wedding GmbH | |
| Burnbrae Wilmersdorf GmbH | |
| CCEC Ltd | |
| Charlemagne Capital (IOM) Limited | |
| Charlemagne Capital Limited | |
| Charlemagne Capital Russia Fund | |
| Charlemagne Capital Russia Value Fund | |
| Clean Air Capital Limited | |
| Discover Investment Company | |
| Emerging Metals Limited | |
| Fixed-Odds Capital (Cook Islands) Ltd | |
| Genseq Limited | |
| Global Glory Investment Limited | |
| IC Technology (UK) Limited | |
| Manx Financial Group PLC | |
| Microcap Partners Limited | |
| Niger Uranium Limited | |
| Paymonthly.com (Hong Kong) Limited | |
| Polo Resources Limited | |
| Red Dragon Resources Corporation | |
| Regent Corporate Finance Limited | |
| Regent Fund Management (Asia) Limited | |
| Regent Fund Management Limited | |
| Regent Metals Holdings Ltd | |
| Regent Pacific Group Limited | |
| RL Country Warrant Fund | |
| Shaanxi Red Dragon Resources Ltd | |
| Shellbay Investments Limited | |
| Sleepwell Hotels (UK) Limited | |
| Sleepwell Hotels Limited | |
| Speymill Plc | |
| Speymill Property Group Limited | |
| Undervalued Assets Property Fund - Series Two | |
| Uranco Inc | |
| Webis Holdings plc |
On 8 April 2003, Regent Pacific Fund, a company of which Jim Mellon was a director (for the 12 month period preceding such date), entered into a voluntary liquidation.
There is nothing further to disclose in relation to Mr Mellon's appointment pursuant to Rule 17 of the AIM Rules for Companies.
For more information, please visit http://www.speymilldeutsche.com or contact:
| Speymill Property Group Limited | +44 1624 640 860 |
| (Manager) | |
| Nigel Caine | |
| Floris van Dijkum | |
| Smith & Williamson Corporate Finance Limited | +44 20 7131 4000 |
| (Nominated Adviser) | |
| Azhic Basirov | |
| Siobhan Sergeant | |
| Fairfax I.S. PLC | +44 20 7598 5368 |
| (Brokers) | |
| James King | |
| Andrew Cox | |
| Tavistock Communications Limited | +44 20 7920 3150 |
| (Media & Investor Relations) | |
| Jeremy Carey | |
| Simon Hudson | |
| Gemma Bradley | |
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. In May 2007, SDIC raised a further €250 million through a C share placing. The Euro denominated fund aims to provide investors with an attractive 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 rising German economic activity and productivity, 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 Advisor, Goal Service GmbH, it identifies acquisition opportunities for the Company, which fit within its investment criteria.