10th Jun 2009 07:00
10 June 2009
Speymill Macau Property Company plc
("Speymill Macau" or the "Company")
Requisition for EGM
Speymill Macau Property Company plc (AIM:MCAU), the Macau focused property investment company listed on AIM, announces that it has received a requisition from a significant shareholder (served under section 113 of the Companies Act 1931 of the Isle of Man) for the directors of the Company ("the Directors" or "the Board") to convene an extraordinary general meeting of members to consider and, if thought fit, pass resolutions to replace the existing Board entirely with its own representatives.
The Company will notify the market, as appropriate, of any developments regarding this matter in due course.
For further information please visit www.speymillmacau.com or contact:
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Speymill Property Group Limited (Manager) |
Speymill Property Group (Far East) Limited (Investment Adviser) |
|
Nigel Caine, CFO Funds |
Thomas Sipos |
|
Nick Harris, Manager |
+852 2514 6104 |
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+44 1624 640 860 |
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Smith & Williamson Corporate Finance Limited (Nomad) |
Fairfax I.S. PLC (Brokers) |
|
Azhic Basirov |
James King |
|
Siobhan Sergeant |
Andrew Cox |
|
+44 20 7131 4000 |
+44 20 7598 5368 |
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Tavistock Communications Limited (Media & Investor Relations) |
|
|
Jeremy Carey |
|
|
Simon Hudson |
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Gemma Bradley |
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+44 20 7920 3150 |
Notes to editors:
Speymill Macau Property Company plc ("Speymill Macau" or the "Company")
Speymill Macau was incorporated and registered in the Isle of Man on 31 October 2006 and is a closed-end investment company registered in the Isle of Man and traded on AIM, a market of the London Stock Exchange.
The Company was established to invest primarily in the Macau property market. This includes pursuing selective commercial property investments to capture expected ancillary Macau service sector growth. The Company listed on AIM on 17 November 2006 raising US$ 80 million in a placing on admission. A second fundraising of US$ 70 million was completed in May 2007. The Company's objective is to provide shareholders 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 centre 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 Group (Far East) Limited, a wholly owned subsidiary of SPG.
Related Shares:
TCA.L