5th Jun 2020 09:31
(Alliance News) -Â Raven Property Group Ltd on Friday said the timing of its final distribution for 2019 will be determined at a later date, when market volatility has "calmed down".
Russia-focused warehouse investor Raven Property intends to make a final distribution in respect of 2019 of 2.25 pence per share, and expects do so via a tender offer share buyback.
"However, the global trading environment has significantly changed over the past few months due to the unprecedented challenges presented by Covid-19 and its long term impact on the market remains unclear. In light of this, the timing and structure of any such distribution to holders of Ordinary Shares will be determined by the board at a later date when market volatility has calmed down," the company said on Friday.
It hopes to be able to update the market on this when it publishes interim results in August.
In Johannesburg on Friday, the stock was untraded at ZAR9.50. In London, shares were up 1.5% at 35.00p.
By Lucy Heming;Â [email protected]
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