MCAU Speymill Mac.

 

TIDMMCAU 
 
RNS Number : 0801V 
Speymill Macau Property Company PLC 
27 October 2010 
 

The following amendment has been made to the Issue of Circular announcement 
released yesterday at 17:01 under RNS number 0500V17. 
Contact details have been inserted after the announcement ends. 
All other details remain unchanged. 
The full text is shown below. 
 
Speymill Macau Property Fund Limited ("the Company") 
Issue of Circular - Replacement 
27 October 2010 
The Company is today sending a circular to shareholders dated 26 October 2010 
("Circular") providing information on two proposals as set out below. 
(1) To adopt a new investment policy under which the Company will cease new 
investment activity and seek to realise, in an orderly manner, the Company's 
remaining investments with a view to returning the net proceeds to shareholders. 
It should be emphasised that the proposed New Investment Policy will not mandate 
the Board to conduct any form of "fire sale" or dispose of investments within 
any given timescale.  Instead, although mandated to sell investments, the 
Company will only do so at a time and at a price which it considers to be to the 
best advantage of the Company and its shareholders. 
(2) To introduce a Directors' incentive plan. Broadly, this plan has been 
designed to reflect two things. First, that since the New Board was appointed it 
has been integrally involved in the appraisal of the Company's investment 
portfolio and has undertaken a number of initiatives, as a result of which the 
Board has collectively devoted substantially more time to the affairs of the 
Company than one would normally expect from a totally non-executive Board. 
Secondly, that this will continue in the future, particularly when the 
appointment of the Investment Manager terminates, as the New Board will be 
primarily responsible for considering and implementing the realisation strategy 
should Shareholders approve the New Investment Policy. Accordingly, should the 
Plan be approved by shareholders, the Board will receive an immediate payment of 
0.6% of the announced net asset value as at 30 June 2010 and 0.6% of any future 
distributions made by the Company during its life, payable at the time of 
distribution. 
The Circular contains further background information relating to these matters 
and sets out the detail of the new incentive plan. The Circular also contains a 
notice convening an Extraordinary General Meeting of the Company's shareholders 
to be held at 11.00 a.m. on 19 November 2010, at which ordinary resolutions will 
be proposed to approve the new investment policy and the Directors incentive 
plan. A copy of the Circular is, or will shortly be, available on the Company's 
website www.speymillmacau.com. 
Ends 
Enquiries: 
For further information, please refer to the Company's website at 
www.speymillmacau.com 
 
Speymill Property Group Limited                     Galileo Fund Services 
Limited 
(Manager) 
(Administrator) 
Nigel Caine, CFO Funds                                   Ian Dungate 
Nick Harris, Manager                                          Suzanne Jones 
+44 1624 640 860                                               +44 1624 692600 
 
Matrix Corporate Capital LLP                            Fairfax I.S. P.L.C. 
(Nominated Advisor/Broker)                              (Broker) 
Paul Fincham                                                       Andrew Cox 
Jonathan Becher                                                 +4420 7598 5368 
+44 20 3206 7000 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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