Speymill Macau Property Company plc is pleased to announce the commencement of trading in its shares on AIM. Speymill Macau has successfully placed 80 million ordinary shares of US$0.10 each at US$1.00 per share to raise gross proceeds of US$80 million.

Speymill Macau Property Company plc is a newly incorporated Isle of Man company established to invest primarily in the high quality residential property market of Macau. The Company’s objective is to provide shareholders with an attractive overall return to be achieved primarily through long-term capital growth. The Company’s emphasis will be on acquiring assets with an overall target internal rate of return of 20 per cent, per annum. Once fully invested, it is anticipated that no one underlying single property building is likely to account for more than 50 per cent, of the gross assets of the Company. The Company has a board of five non-executive directors with a diverse range of experience.

The Manager (Speymill Property Managers Limited), the Investment Adviser Speymill Property Managers (Far East Limited) and the Property Adviser (Avila Capital Limited) will be responsible for identifying new investment opportunities that fall within the investment policy and objectives agreed by the Board from time to time. Following the identification of a potential new investment opportunity, the Manager, with the assistance of the Investment Adviser and the Property Adviser, will be responsible for ensuring all necessary due diligence is carried out and for negotiating the terms of investment on behalf of the Company.

Exchange: AIM
Listing Date: 17 November 2006
Funds Raised: US $80m
Nominated Adviser: Smith & Williamson Corporate Finance Limited
Nominated Broker: Fairfax I.S. PLC