Speymill Deutsche Immobilien Company plc (SDIC.L), the pan-German residential property investment company listed on AIM, is pleased to announce the appointment of Jim Mellon as a Non-Executive Director with immediate effect. James (Jim) Mellon (aged 52) has a Masters degree in Philosophy, Politics and Economics from Oxford University. He began his career working in fund management in the USA and in Asia.
Mr Mellon is the co-chairman and founder of the Hong Kong listed Regent Pacific Group Limited and also a director of the AIM quoted Charlemagne Capital Limited, the leading emerging market asset manager. He is also non-executive Chairman of the Isle of Man based AIM quoted property investment management, Speymill plc. With over twenty-five years of experience, he has substantial knowledge of global fund management and public company management and governance, with considerable experience in the closed end funds markets. This experience is expected to contribute to the Board's ongoing duties to ensure the true value of the Company's underlying net assets and the Company's strategic value are properly communicated to and recognised by the market.
In addition, Mr Mellon maintains a close involvement in both German residential and commercial property via his indirect interest in Burnbrae Germany and its subsidiaries. Mr Mellon has an interest in 37,904,604 ordinary shares in SDIC, both directly as well as indirectly through his interests in Galloway Limited and Speymill plc, representing 11.24% of the issued share capital in the Company. Mr Mellon is also an indirect 44.8% shareholder of Speymill plc, of which Speymill Property Group Limited, the Company's manager, is a wholly owned subsidiary.
Mr Mellon will offer himself for re-election by shareholders at the first Annual General Meeting following his appointment.
Source: Tavistock Communications