Speymill Property Group

Property Investment

As part of the corporate transaction with Speymill Deutsche Immobilien Company plc ("SDIC") to terminate the investment management agreement with that company, Speymill plc acquired 94.9% of the share capital in two property owning entities, Horsfield Limited and Wyatt Limited.

These two entities own investment property in Germany. The property is primarily residential rental property and the Group's intention is to manage these assets to provide a long term return.