News blog

Speymill

• BY: Andrew Hore |
• POSTED: 30/07/2013 |

Shareholders have agreed to plans to turn Speymill into a shell.

The search for a new business will be focused on the EU. No specific industry is being targeted.

An administrator was appointed to Speymill Contracts at the end of 2012. Speymill sold its remaining German residential property businesses to a related company in return for the cancellation of £4.21m of debt and £300,000 of cash. There is also a loan facility that can provide additional cash to cover overheads. Pro forma liabilities are £2.29m.

At 0.55p a share, Speymill is valued at £321,000.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2013_46.pdf