Phoenix Spree proposes new shareholder redemption facility

Published 23/05/2025, 07:08
Phoenix Spree proposes new shareholder redemption facility

LONDON - Phoenix Spree Deutschland Limited (LSE:PSDL.LN), a UK-listed investment firm focusing on Berlin’s residential real estate, has issued a notice regarding its upcoming Annual General Meeting (AGM) and an Extraordinary General Meeting (EGM). The company is proposing the introduction of a Compulsory Redemption Facility, which aims to enable the company to return cash to its shareholders in a cost-effective and timely manner.

The AGM is scheduled to take place on June 18, 2025, at 11:00 a.m. (BST) in Jersey, with the EGM to follow at 11:30 a.m. (BST) or immediately after the conclusion or adjournment of the AGM. The meetings will be held at IFC 5, St Helier, JE1 1ST, Jersey.

According to the press release, the Compulsory Redemption Facility would allow Phoenix Spree Deutschland to compulsorily redeem ordinary shares from shareholders, distributing cash proportionally. The Board has recommended that shareholders vote in favor of the resolutions concerning the introduction of this facility at both the AGM and EGM.

Shareholders have been provided with the Circular, which details the proposed Compulsory Redemption Facility, and the reasons for the Board’s recommendation. The Circular, along with the annual report and financial statements for the year ended December 31, 2024, and relevant proxy forms, have been posted to shareholders. These documents are also available for inspection at the National Storage Mechanism and can be accessed online.

The information regarding the AGM and EGM is provided by RNS, the news service of the London Stock Exchange (LON:LSEG), and is approved by the Financial Conduct Authority in the UK. This announcement is based on a press release statement from Phoenix Spree Deutschland Limited.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.