24 Jun 2008 07:00
Speymill Macau Property Company plc
('Speymill Macau' or 'the Company')
Statement re. Press Comment
The Company notes recent press speculation relating to the AIA Tower in Macau. The Directors confirm that the Company is considering a number of investment opportunities and will inform the market if any material agreements are concluded which result in further investments by the Company.
24 June 2008
For further information, please refer to the Company's website at www.mcau.co.im or contact
Speymill Property Group (Investment Advisers) | Smith & Williamson Corporate Finance Limited (Nomad) | Tavistock Communications |
Thomas Sipos, Head of Real Estate Investments for Asia Pacific | Azhic Basirov Siobhan Sergeant | Jeremy Carey Simon Hudson |
+852 2514 6104 | +44 20 7131 4000 | Gemma Bradley |
Floris van Dijkum, Global Chief Investment Officer +44 20 7659 0763 | +44 20 7920 3150 | |
Paul Smith, CFO Funds +44 1624 640864 | Fairfax I.S. PLC (Brokers) James King +44 20 7598 5368 |
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 high quality residential properties in Macau, China. The Company listed on the AIM market of the London Stock Exchange in November 2006, following a placing of US$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 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 and tourist destination. These developments have 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. These favourable market dynamics are expected to enable Speymill Macau to offer shareholders an attractive overall return.
Speymill Property Group Limited (SPG") is the Manager of the company and the Investment Adviser is Speymill Property Managers (Far East) Limited, a wholly owned subsidiary of SPG.