News blog

Speymill

  • BY: Andrew Hore |
  • POSTED: 17/06/2010 |

Property investment manager and construction company Speymill has reached heads of agreement with Aim-quoted Speymill Deutsche Immobilien Property Company about the termination of its investment management agreement and the sale by Speymill of its subsidiary GOAL.

Speymill will receive €7.851m in compensation plus €1.14m in fees for the transfer period. Both will be in the form of property assets and their associated loans.

Speymill will receive the net asset value of GOAL in return for its sale – it is currently €1.9m. The construction business is excluded. The payment will be in the form of a convertible loan note. The interest rate will be equal to the two-year German bund plus 1.5 percentage points.

Speymill is still finalising the provision it will need to take in its 2009 figures but they should be published on 24 June.

At 4.875p a share, Speymill is valued at £2.85m.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds