Signature Capital files accounts

Shareholders' funds in property investment business Signature Capital stood at €2.5 million at the end of last year, the latest figures show.

Signature was one of a number of Irish investors who made forays into the German property market in 2006. Returns that have just become available from the Companies Registration Office show that shareholders' funds in the business stood at €2.52 million on December 31st, 2005.

Signature has €150 million invested in German property. Recently it bought an office and retail block on the main shopping street of the city of Essen, in the northwest of the country.

Last month, director and shareholder Enda Woods said Germany represented good value for investors, who are betting on improving conditions in the EU's biggest economy.

Signature has offices in Berlin and Dublin. One of other directors is Ciarán McNamara. Mr Woods and Mr McNamara own 50 per cent of the company between them.

The other three board members are named as Fergal Walshe, Ronan McNamee and Walter Coakley. According to current company returns, they do not have a shareholding in the firm.

The accounts show it owed shareholders more than €222,000 at the end of last year. The amount was due within 12 months of the balance sheet date.