Speymill Deutsche Immobilien Chairman Retires, Reviewing Board

LONDON (Dow Jones)--Speymill Deutsche Immobilien Co PLC (SDIC.LN), a pan-German residential property investment company, said Friday Chairman Raymond Apsey will be retiring from the Board with immediate effect and in light of this the Board is currently reviewing the overall structure and composition of the Board, including the appointment of a new chairman and executive members. MAIN FACTS: -Company has also signed an agreement terminating the investment management agreement with, inter alia, Speymill Property Group Ltd. and, at the same time, entered into a continuing services agreement. -Agreements are effective from June 1 and are on the same terms as previously announced. -Acquisition of investment adviser, GOAL service GmbH, is currently progressing towards completion in August. -Shares closed Thursday at 6.03 pence valuing the company at GBP24.04 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires July 23, 2010 02:56 ET (06:56 GMT)