20th Mar 2009 10:33
20 March 2009
Speymill Deutsche Immobilien Company plc
("the Company")
Termination of custodian contract
Speymill Deutsche Immobilien Company plc (SDIC.L), the pan-German residential property investment company listed on AIM, announces that it has today notified its custodian, Anglo Irish Custodian (International) PLC ("the Custodian"), that it wishes to terminate the custodian agreement between the Company and the Custodian with immediate effect. This decision was as a result of the fact that the Company is now fully invested and the Board therefore no longer feels that the services of a custodian are necessary.
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Speymill Property Group (UK) Limited |
Speymill Property Group Limited |
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(Adviser) |
(Manager) |
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Nigel Caine, CFO Funds |
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Floris van Dijkum, Global Chief Investment Officer |
+44 1624 640 860 |
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+44 20 7659 0763 |
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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 Limited |
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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 |
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 (EPIC: SDIC.L). In May 2007, SDIC raised a further €250 million through a C share placing (EPIC: SDCC.L). The Euro denominated fund aims to provide investors with a moderate 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 an undersupply of residential units, 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 Advisor, GOAL Service GmbH, it identifies acquisition opportunities for the Company, which fit within its investment criteria.
Related Shares:
Sdic Power.