Fairfax I.S. PLC has successfully raised a further US$70m for Speymill Macau Property Company (the “Company”) in a secondary placing of 50m ordinary shares of US$0.10 per share (“Ordinary Shares”) at a placing price of US$1.40 per Ordinary Share. In November 2006 at IPO Fairfax raised US$80m to launch the Company.

The Company, incorporated in the Isle of Man, was established to invest primarily in the high quality residential property market of Macau. To date it has achieved an average asset valuation uplift of 31% above total purchase price.

The proceeds of the Placing will be used to fund further acquisitions in line with the Company’s investment strategy, the additional assets identified amount to over US$350m, doubling the size of the Company.

Placing statistics:

Listing Exchange: AIM
Listing Date: 11 May 2007
Money Raised: US$70 million
Market capitalisation: US$182 million
Nominated Adviser: Smith & Williamson Corporate Finance Ltd
Nominated Broker: Fairfax I.S. PLC