23rd Feb 2009 13:48
23 February 2009
Speymill Macau Property Company plc
("Speymill Macau" or the "Company")
Holding in Company
Speymill Macau Property Company plc (EPIC: MCAU.L), the Macau focused property investment company listed on AIM, was notified on 23 February 2009 that First Securities AS, on behalf of Edda Utvikling AS, disposed of its entire shareholding, 5,602,143 ordinary shares, in the Company on 23 January 2009.
For further information please visit www.mcau.co.im or contact:
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Speymill Property Group (Far East) Limited |
Speymill Property Group |
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(Adviser) |
(Manager) |
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Thomas Sipos |
Nigel Caine, CFO Funds |
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+852 2514 6104 |
+44 1624 640 860 |
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Smith & Williamson Corporate Finance Limited |
Fairfax I.S. PLC |
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(Nomad) |
(Brokers) |
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Azhic Basirov |
James King |
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Siobhan Sergeant |
Andrew Cox |
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+44 20 7131 4000 |
+44 20 7598 5368 |
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Tavistock Communications |
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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 Macau Property Company plc ("Speymill Macau" or the "Company")
Speymill Macau (EPIC: MCAU.L) was established to create a portfolio of high quality residential properties in Macau, China. The Company listed on the AIM market of the London Stock Exchange in November 2006, following a placing of US$80 million. A second fundraising of US$70 million was completed in May 2007. The US Dollar denominated fund aims to provide investors with an attractive overall return to be achieved primarily through long term capital growth.
Macau is one of only two Special Economic Regions, a semi-autonomous administrative area, in China, and has enjoyed explosive economic growth, in part due to its establishment as an important gambling and tourist destination. These developments have led to high historical and forecast GDP growth, driven by rising incomes and low unemployment levels. Coupled with the limited availability of land, developers are now struggling to meet a stronger than anticipated demand for higher quality housing. These favourable market dynamics are expected to enable Speymill Macau to offer shareholders an attractive overall return.
Speymill Property Group Limited ("SPG") is the Manager of the company and the Investment Adviser is Speymill Property Managers (Far East) Limited, a wholly owned subsidiary of SPG.
Related Shares:
TCA.L