Proposed Fundraising

16 Mar 2007 07:05

Speymill Deutsche Immobilien Co PLC16 March 2007 Speymill Deutsche Immobilien Company plc ("SDIC" or "the Company") Proposed fundraising Speymill Deutsche Immobilien Company plc (AIM: SDIC) announced today thatapproximately EUR902.4 million of properties had been notarised as at 15 March2007. The Company's Manager and Investment Adviser have identified furtherproperties with an acquisition cost of approximately EUR25 million and expectthe Company to have committed the funds raised at the time of the Company'slaunch in the near future. The Manager and Investment Adviser remain confident about the prospects for theGerman residential property market and believe that the Company is now at anappropriate stage in its development to consider raising further funds. Therefore, the Company is considering an issue of C shares, via a placing withinstitutional investors, to enlarge the size of the Company and provide fundsfor further investment in line with the Company's current investment strategy. 16 March 2007 For further information, please contact: Azhic BasirovSmith & Williamson Corporate Finance Limited 020 7131 4000 Paul RichardsFairfax I.S. PLC 020 7460 4371 Notes to editors: - Speymill Deutsche Immobilien Company plc is a pan-German residential property investment company which listed on AIM on 17 March 2006. - The Company raised £170 million in a placing on its admission. - The Company was established to invest in the German property market and, predominantly, in the residential sector. It is anticipated that once fully invested, the Company will have a balanced portfolio of properties throughoutGermany. - The Company's objective is to provide Shareholders with an attractive level ofincome together with the prospect for long-term capital growth. - The Manager is Speymill Property Managers Limited and the Investment Adviser is GOAL Service GmbH. The Manager and Investment Adviser are responsible for identifying new investment opportunities. - The Manager is a subsidiary of Speymill Group plc (AIM: SYG) while the Investment Adviser is a joint venture partner of Speymill Group plc (which owns 51% of the venture). This information is provided by RNS The company news service from the London Stock Exchange