28 November 2018
The headline for the Phoenix Spree Deutschland Limited announcement released on 28 Nov 2018 at 13.09 under RNS No 7928I should read Publication of Circular.
The announcement text is unchanged and is reproduced in full below.
Phoenix Spree Deutschland Limited
Publication of Circular
Further to the announcement made on 27 November 2018, Phoenix Spree Deutschland Limited ("PSDL") has today published and will send to all holders of ordinary shares in the capital of PSDL a circular (the "Circular") in relation to the proposal to enter into a new property advisory and investor relations agreement (the "New PAIR") with PMM Residential Limited (the "New Property Adviser"), a member of the PMM Group (the "Transaction").
The Transaction is subject to the approval of PSDL shareholders and, accordingly, the Circular contains a notice convening a general meeting of PSDL, which is to be held at 10.00 a.m. on 21 December 2018 at 13-14 Esplanade, St. Helier, Jersey JE1 1EE. Shareholders may appoint a proxy by completing the form of proxy enclosed with the Circular. Alternatively, proxy appointments may be completed electronically. The procedures and timings for the appointment of a proxy are set out in the notes to the notice of the general meeting at the back of the Circular.
In accordance with LR 9.6.1 of the UK Listing Authority, a copy of the Circular and Form of Proxy has also been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM. A copy of the Circular including the notice of general meeting and Form of Proxy is available for viewing on the investor relations section of PSDL's website at http://www.phoenixspree.com/.
For further information, please contact:
Phoenix Spree Deutschland Limited
Stuart Young +44 (0)20 3937 8760
Numis Securities Limited (Corporate Broker)
David Benda +44 (0)20 7260 1000
Tulchan Communications (Financial PR)
Elizabeth Snow +44 (0)20 7353 4200
Amber Ahluwalia
About Phoenix Spree Deutschland
PSDL is an investment company founded in 2007 and listed on the London Stock Exchange. It offers shareholders exposure to the Berlin residential market. Since PSDL was incorporated in Jersey in 2007, the Company has assembled an attractive portfolio of German real estate assets. As at 30 June 2018, the portfolio was valued at €584 million and consisted of 93 properties containing 2,322 residential units and 152 commercial units, representing a total lettable area of approximately 180,000 square metres. The primary assets are multi-apartment residential buildings, mostly built pre-1914 or post-1990, and 94 per cent. of the Company's portfolio by total units relates to residential property, with the balance being commercial property.
About PMM Group
PMM Partners LLP was formed in 2006 by Mike Hilton, Paul Ruddle and Matthew Northover to act as property adviser to the Company. An affiliated and FCA-regulated entity, PMM Advisers LLP ("PMM Advisers") was formed in 2007 and acts as an investment adviser on a number of UK property and property-related debt funds. In 2015, a new related company, PMM Partners (UK) Limited, replaced PMM Partners LLP as property adviser to the Company.
As at 30 June 2018, the PMM Group had gross assets under management of approximately €1.0 billion, employed over 50 staff, and had four offices in London, Berlin, Dublin and Surrey. Its interests cover German residential, UK specialist mortgages, commercial property lending and loan servicing. The PMM Group benefits from a robust operating platform which includes in-house legal, finance, IT and compliance services.
