24 Mar 2010 17:00
24th March 2010
Speymill Macau Property Company PLC
("Speymill Macau" or "the Company")
The Board of Speymill Macau Property Company plc (the "Company") is pleased to announce the appointment of Matrix Corporate Capital LLP as the Company's nominated adviser with immediate effect.
Enquiries
For more information, please visit www.speymillmacau.com or contact:
Speymill Property Group Limited Galileo Fund Services Limited
(Manager) (Administrator)
Nigel Caine, CFO Funds Ian Dungate
Nick Harris, Manager Suzanne Jones
+44 1624 640 860 +44 1624 692600
Matrix Corporate Capital LLP Fairfax I.S. PLC
(Nominated Adviser) (Brokers)
Paul Fincham James King
Jonathan Becher Andrew Cox
+44 20 3206 7000 +44 20 7598 5368
+44 20 7598 5368
Tavistock Communications Limited
(Media & Investor Relations)
Jeremy Carey
Simon Hudson
Gemma Bradley
+44 20 7920 3150
Notes to Editors:
Speymill Macau Property Company plc ("Speymill Macau" or the "Company")
·; Speymill Macau was incorporated and registered in the Isle of Man on 31 October 2006 and is a closed-ended investment company registered in the Isle of Man and traded on AIM, a market of the London Stock Exchange.
·; The Company was established to invest primarily in the Macau property market. This includes pursuing selective commercial property investments to capture expected ancillary Macau service sector growth. The Company was admitted to AIM on 17 November 2006 raising US$ 80 million in a placing on admission. A second fundraising of US$ 70 million was completed in May 2007. The Company's objective is to provide shareholders with an attractive overall return to be achieved primarily through long-term capital growth.
·; Macau is one of only two Special Economic Regions, a semi-autonomous administrative area, in China, and has enjoyed explosive economic growth, in part due to its establishment as an important gambling centre which has led to high historical and forecast GDP growth, driven by rising incomes and low unemployment levels. Coupled with the limited availability of land, developers are now struggling to meet a stronger than anticipated demand for higher quality housing. The Company intends to exploit these favourable market dynamics with the aim of generating attractive oveall returns for shareholders.
Speymill Property Group Limited ("SPG") is the Manager of the Company and the Investment Adviser is Speymill Property Group (Far East) Limited, a wholly owned subsidiary of SPG.