Last checked at 27 Jan 2009 07:00
27 January 2009
Speymill Deutsche Immobilien Company plc
("the Company")
Statement re: Speymill plc
The Board of Speymill Deutsche Immobilien Company plc (AIM: SDIC), the pan-German residential property investment company listed on AIM, notes the trading update made yesterday by Speymill plc concerning the performance of its subsidiary, Speymill Contracts Limited, and the suspension of Speymill plc's shares from trading on AIM.
The Company's Adviser and Investment Advisor (Speymill Property Group (UK) Limited and Goal Service GmbH respectively) are both wholly owned subsidiaries of the Company's Manager, Speymill Property Group Limited. Speymill Property Group Limited is a wholly owned subsidiary of Speymill plc and continues to trade profitably. Speymill Property Group Limited has no trading relationship with Speymill Contracts Limited.
The Board of the Company has been assured by the Manager that Company's Manager, Adviser and Investment Advisor continue to operate as normal.
For more information, please visit www.sdic.co.im or contact:
| Speymill Property Group (UK) Limited | Tavistock Communications Limited |
| (Adviser) | (Media & Investor Relations) |
| Floris van Dijkum, Global Chief Investment Officer | Jeremy Carey |
| +44 20 7659 0763 | Simon Hudson |
| Gemma Bradley | |
| Speymill Property Group Limited | +44 20 7920 3150 |
| (Manager) | |
| Nigel Caine, CFO Funds | |
| +44 1624 640 860 | |
| Smith & Williamson Corporate Finance Limited | Fairfax I.S. PLC |
| (Nomad) | (Brokers) |
| Azhic Basirov | James King |
| Joanne Royden-Turner | Andrew Cox |
| +44 20 7131 4000 | +44 20 7598 5368 |
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 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.