RNS Number : 8047C
Speymill Deutsche Immobilien Co PLC
19 November 2009
19 November 2009
Speymill Deutsche Immobilien Company plc
("SDIC" or "the Company")
Result of AGM
Speymill Deutsche Immobilien Company plc (SDIC.L), the pan-German residential property investment company listed on AIM, advises the shareholders that at the Annual General Meeting of the Company ("AGM") held today, the following resolutions were passed by majority vote:
Ordinary resolutions:
1. The report of the Investment Manager, Report of the Directors,
Auditors' Report and the Audited Consolidated Financial Statements
of the Company for the year ended 30 June 2009 were approved.
2. James Mellon was re-elected as a director of the Company.
3. That KPMG Audit LLC, Isle of Man be re-appointed as Auditors of the
Company for the year ending 30 June 2010.
4. The Directors were authorised to determine the remuneration of the
Auditors.
5. No dividend be payable in respect of the Ordinary Shares for the
year ended 30 June 2009.
6. That the authority for the purchase of up to 14.99% of the fully
paid Ordinary Shares in issue at a price of no less than 10 Euro
cents per share and not more than 5 per cent. above the average mid
market price for an Ordinary Share the five days immediately
preceding the date of purchase, with an expiry date of the
conclusion of the next Annual General Meeting or if earlier, 15
months from passing the resolution.
Special resolution:
7. The Articles of Association of the Company have been amended to reflect
the correct level of authorised share capital of the Company, to remove
references to C Shares which are no longer applicable and to require each
member of the Company to comply with the notification obligations
contained in Chapter 5 of the Disclosure and Transparency Rules of the UK
Financial Services Authority as if the Company was a UK issuer for the
purpose of such rules.
For more information, please visit http://www.speymilldeutsche.com or contact:
Speymill Property Group Limited +44 1624 640 860
(Manager)
Nigel Caine
Nick Harris
SMP Fund Services Limited +44 1624 682 216
(Administrator)
Vincent Campbell
Smith & Williamson Corporate Finance Limited +44 20 7131 4000
(Nominated Adviser)
Azhic Basirov
Siobhan Sergeant
Fairfax I.S. PLC +44 20 7598 5368
(Brokers)
James King
Andrew Cox
Tavistock Communications Limited +44 20 7920 3150
(Media & Investor Relations)
Jeremy Carey
Simon Hudson
Gemma Bradley
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 EUR250 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 Adviser, Goal service GmbH, it identifies acquisition opportunities for the Company, which fit within its investment criteria.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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