26 Mar 2008 18:09
Speymill Macau Property Company PLC26 March 2008 Speymill Macau Property Company PLC ("Speymill Macau" or "the Company") Buy-back of shares Speymill Macau Property Company PLC (EPIC: MCAU.L) announces that on Tuesday, 25March 2008, it completed the buy-back of 5,118,419 ordinary shares of USD0.10each in the Company ("Shares") at a price of USD1.13 per share. The Shares purchased by the Company will be cancelled and as a result the totalnumber of ordinary shares in issue will be 124,881,581. 26 March 2008 For further information on the Company, please refer to the website atwww.mcau.co.im. Investment Adviser:Speymill Property Group (Far East) LimitedThomas Sipos +852 2514 6104 Nominated Adviser:Smith & Williamson Corporate Finance Limited +44 (0)20 7131 4000Azhic Basirov / Joanne du Plessis Public Relations:Tavistock CommunicationsJeremy Carey / Rachel Drysdale +44 (0)20 7920 3150 Notes to editors: Speymill Macau Property Company plc ("Speymill Macau" or the "Company")Speymill Macau (EPIC: MCAU.L) was established to create a portfolio of highquality residential properties in Macau, China. The Company listed on the AIMmarket of the London Stock Exchange in November 2006, following a placing ofUS$80 million. A second fundraising of US$70 million was completed in May 2007. The US Dollar denominated fund aims to provide investors with an attractiveoverall return to be achieved primarily through long term capital growth. Macau is one of only two Special Economic Regions, a semi-autonomousadministrative area, in China, and has enjoyed explosive economic growth, inpart due to its establishment as an important gambling and tourist destination.These developments have led to high historical and forecast GDP growth, drivenby rising incomes and low unemployment levels. Coupled with the limitedavailability of land, developers are now struggling to meet a stronger thananticipated demand for higher quality housing. These favourable market dynamicsare expected to enable Speymill Macau to offer shareholders an attractiveoverall return. Speymill Property Group Limited ("SPG") is the Manager of the company and theInvestment Adviser is Speymill Property Managers (Far East) Limited, a whollyowned subsidiary of SPG. This information is provided by RNS The company news service from the London Stock Exchange