Last checked at 23 Jul 2010 07:00
23 July 2010
Speymill plc ("Speymill" or the "Company")
Update on Internalisation of SDIC management
Speymill (AIM: SYG), the property services business specialising in real estate investment management, property management and property construction announces that, further to the announcement made on 17 June 2010 regarding the internalisation of the management of Speymill Deutsche Immobilien Company plc ("SDIC"), it has signed an agreement terminating the Investment Management Agreement with, inter alia, SDIC and, at the same time, has entered into a continuing services agreement. The agreements are effective from 1 June 2010 and are on the same terms as previously announced.
The signing of these agreements is a further step towards the completion of the internalisation of the management, investment advisory and property management functions. The Company will provide, in due course, further updates on the acquisition by SDIC of GOAL service GmbH, which is currently progressing towards completion in August 2010.
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Contacts:
| Speymill plc Bob MacDonald, Chief Executive Officer Paul Smith, Finance Director Neil Holmes, Company Secretary | Tel: 01624 640 860 |
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| Walbrook PR Ltd Paul McManus Ben Knowles | Tel: 020 7933 8780 |
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| Nominated Adviser Smith & Williamson Corporate Finance Limited Azhic Basirov Siobhan Sergeant |
Tel: 020 7131 4000 |
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| Broker Lewis Charles Securities Limited David Lawman |
Tel: 020 7456 9100 |