RNS Number : 9911D
24 May 2012
7.00am on 24 May 2012
("Speymill" or the "Company")
Agreed settlement of the Speymill Deutsche Immobilien Company plc ("SDIC") loan notes relating to the sale of GOAL services GmbH ("GOAL")
Speymill (AIM: SYG), the multinational property services group, announces that it has entered into a negotiated agreement with SDIC to settle the outstanding convertible loan notes ("Loan Notes") issued by SDIC to Speymill in consideration for the acquisition of GOAL on 18(th) November 2010.
The aggregate value today of the outstanding Loan Notes is EUR 2.088 million and Speymill has agreed to accept EUR1.86 million combining both principal and interest, subject to immediate payment and in full and final settlement (the "Settlement"). The Company has received the funds which will be used to support the Company's working capital.
Denham Eke, Chief Executive Officer Tel: +44 (0) 1624 639396
Nominated Advisor and Broker
Beaumont Cornish Limited Tel: +44 (0)20 7628 3396
Roland Cornish and James Biddle
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