General Update on Joint Venture, and Riviera Sales (0396Y)
15 Dicembre 2010 - 4:41PM
UK Regulatory
TIDMMCAU
RNS Number : 0396Y
Speymill Macau Property Company PLC
15 December 2010
Speymill Macau Property Company plc
General Update on Joint Venture, and Riviera Sales
The Board of Speymill Macau Property Company plc (the "Company")
wishes to update its shareholders on two recent events:
1. Joint Venture: On Saturday, Dec. 11, the Company signed a
contract to sell all of the properties in the Joint Venture known
as Raphael (Macau) Ltd., in which the Company has an 83% interest,
for its reported net Asset Value as of June 30, 2010. The purchaser
has paid a 5% deposit and now has 60 days in which to make the full
payments totalling approximately USD$5.6 million.
2. Riviera: Some buyers have made the final payments under the
Plan "B" purchase plan and the Company received a total of HK$
7,590,590 (approx. USD$ one million) on December 8, 2010 which
money has been deposited in a one month Certificate of Deposit and
added to the approximately US$12 935,509 received earlier and
announced to shareholders on 19 November 2010. The US Dollar amount
above is for information purposes only and in calculating such
price a conversion price of 7.75 HK dollar to one US dollar was
used.
Enquiries
For more information, please visit www.speymillmacau.com or
contact:
Speymill Property Group Limited Galileo Fund Services
Limited
(Manager) (Administrator)
Huang Khoo Ian Dungate
Terri Tsang Suzanne Jones
+44 1624 640 860 +44 1624 692600
Matrix Corporate Capital LLP Fairfax I.S. P.L.C. (Nominated
Adviser and Broker) (Broker) Paul Fincham James King Jonathan
Becher Andrew Cox +44 20 3206 7000 +44 20 7598 5368
This information is provided by RNS
The company news service from the London Stock Exchange
END
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