Speymill Deutsche Immobilien Gets EUR2M Loan From Director

LONDON (Dow Jones)--Speymill Deutsche Immobilien Company PLC (SDIC.LN), a pan-German residential property investment company, Monday announces that, Jim Mellon, a director and substantial shareholder of SDIC, agreed, subject to final documentation being signed, to lend the Company EUR2 million. MAIN FACTS: -The additional funds will be used to assist the Company with its working capital and certain financing requirements in the intervening period until such time as negotiations on a comprehensive debt restructuring with the Company's lending banks have concluded. -Term: Matures on Nov. 15 -Interest: 7% per annum payable monthly in arrears. -Repayment: Repayable on maturity or, in the event of an equity fund raising prior to maturity, convertible, at Mellon's option, into ordinary shares in the Company at a price per share equivalent to the price paid by investors in such a fund raising. -Security: The loan is secured against certain unencumbered properties within the Company's portfolio -Fee: A facility fee of 2.5% to be rolled up to maturity. -Shares at 1123 GMT up 0.20 pence, or 4.62%, at 4.56 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires June 21, 2010 07:25 ET (11:25 GMT)