30th Nov 2010 07:30
30 November 2010
Speymill Deutsche Immobilien Company plc
("SDIC" or "the Company")
Appointment of Receiver and Suspension of Trading
Speymill Deutsche Immobilien Company plc (AIM: SDIC), the pan-German residential property investment company listed on AIM, announces that it received, yesterday, notices from its debt providers ("Lending Banks") regarding the appointment of receivers to all of its subsidiary property holding companies. This does not include GOAL service GmbH, the Company's recently acquired property manager.
For the avoidance of doubt, the Company, itself, remains solvent but in light of the developments with its subsidiaries, however, the Company has requested a suspension in the trading of its ordinary shares on AIM with effect from 7:30am today. The Company's net asset value as at 30 June 2010 was €116.5 million (as announced yesterday).
Further announcements will be made in due course once the directors have ascertained further information on the situation.
For more information, please visit http://www.speymilldeutsche.com or contact:
SMP Partners 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 | |
Gillian McCarthy | |
Tavistock Communications Limited | +44 20 7920 3150 |
(Media & Investor Relations) | |
Jeremy Carey | |
Simon Hudson | |
Related Shares:
Sdic Power.