Sdic Power. Regulatory News (SDIC)

9 Nov 2009 07:00



9 November 2009

Speymill Deutsche Immobilien Company plc

("SDIC" or "the Company")

Director's dealing

The Company has been informed that Jim Mellon, a non-executive director of the Company, purchased a total of 575,000 ordinary shares in the capital of the Company, as follows:

Following the above transaction, Mr Mellon has an interest in 39,296,199 ordinary shares in SDIC, both directly as well as indirectly through his interests in Galloway Limited and Speymill plc, representing in aggregate 11.75% of the issued share capital in the Company. Mr Mellon is a director of and an indirect 44.8% shareholder of Speymill plc, of which Speymill Property Group Limited, the Company's manager, is a wholly owned subsidiary.

For more information, please visit http://www.speymilldeutsche.com or contact:

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 Advisor, Goal service GmbH, it identifies acquisition opportunities for the Company, which fit within its investment criteria.