19th Nov 2009 16:11
19 November 2009
Speymill Deutsche Immobilien Company plc
("SDIC" or "the Company")
Result of AGM
Speymill Deutsche Immobilien Company plc (SDIC.L), the pan-German residential property investment company listed on AIM, advises the shareholders that at the Annual General Meeting of the Company ("AGM") held today, the following resolutions were passed by majority vote:
Ordinary resolutions:
|
1. |
The report of the Investment Manager, Report of the Directors, Auditors' Report and the Audited Consolidated Financial Statements of the Company for the year ended 30 June 2009 were approved. |
|
|
|
|
2. |
James Mellon was re-elected as a director of the Company. |
|
|
|
|
3. |
That KPMG Audit LLC, Isle of Man be re-appointed as Auditors of the Company for the year ending 30 June 2010. |
|
|
|
|
4. |
The Directors were authorised to determine the remuneration of the Auditors. |
|
|
|
|
5. |
No dividend be payable in respect of the Ordinary Shares for the year ended 30 June 2009. |
|
|
|
|
6. |
That the authority for the purchase of up to 14.99% of the fully paid Ordinary Shares in issue at a price of no less than 10 Euro cents per share and not more than 5 per cent. above the average mid market price for an Ordinary Share the five days immediately preceding the date of purchase, with an expiry date of the conclusion of the next Annual General Meeting or if earlier, 15 months from passing the resolution. |
Special resolution:
|
7. |
The Articles of Association of the Company have been amended to reflect the correct level of authorised share capital of the Company, to remove references to C Shares which are no longer applicable and to require each member of the Company to comply with the notification obligations contained in Chapter 5 of the Disclosure and Transparency Rules of the UK Financial Services Authority as if the Company was a UK issuer for the purpose of such rules. |
For more information, please visit http://www.speymilldeutsche.com or contact:
|
Speymill Property Group Limited |
+44 1624 640 860 |
|
(Manager) |
|
|
Nigel Caine |
|
|
Nick Harris |
|
|
|
|
|
SMP Fund Services Limited |
+44 1624 682 216 |
|
(Administrator) |
|
|
Vincent Campbell |
|
|
|
|
|
Smith & Williamson Corporate Finance Limited |
+44 20 7131 4000 |
|
(Nominated Adviser) |
|
|
Azhic Basirov |
|
|
Siobhan Sergeant |
|
|
|
|
|
Fairfax I.S. PLC |
+44 20 7598 5368 |
|
(Brokers) |
|
|
James King |
|
|
Andrew Cox |
|
|
|
|
|
Tavistock Communications Limited |
+44 20 7920 3150 |
|
(Media & Investor Relations) |
|
|
Jeremy Carey |
|
|
Simon Hudson |
|
|
Gemma Bradley |
|
|
|
|
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.
Speymill Property Group Limited is the appointed Manager of SDIC and, in conjunction with the Investment Adviser, Goal service GmbH, it identifies acquisition opportunities for the Company, which fit within its investment criteria.
Related Shares:
Sdic Power.