1st Sep 2010 17:07
1 September 2010
Speymill Deutsche Immobilien Company plc
("SDIC" or "the Company")
Internalisation of Management
Further to the announcement on 22 July 2010 regarding the internalisation of management, the Board of SDIC announces that due diligence on GOAL service GmbH ("GOAL") is progressing towards completion and is expected to be completed soon. The Company will notify the market in due course when the acquisition of GOAL is completed.
For more information, please visit http://www.speymilldeutsche.com or contact:
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SMP Partners Limited |
+44 1624 682 216 |
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(Administrator) |
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Vincent Campbell |
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Smith & Williamson Corporate Finance Limited |
+44 20 7131 4000 |
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(Nominated Adviser) |
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Azhic Basirov |
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Siobhan Sergeant |
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Fairfax I.S. PLC |
+44 20 7598 5368 |
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(Brokers) |
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James King |
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Gillian McCarthy |
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Tavistock Communications Limited |
+44 20 7920 3150 |
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(Media & Investor Relations) |
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Jeremy Carey |
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Simon Hudson |
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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. 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.
Related Shares:
Sdic Power.