29th Jul 2005 08:06
Raven Mount plc29 July 2005 Raven Mount plc ("Raven Mount") Flotation of Raven Russia Limited ("Raven Russia") Further to the announcement of 12 July 2005, shares in Raven Russia have beenadmitted to trading on AIM today. In total, Raven Russia has raised £153million of equity through a share placing. £10 million of this was subscribed incash by Raven Mount for a 6.5 per cent. shareholding. Raven Russia is a newly incorporated entity that has not yet traded and willinvest in the Russian property market with an initial focus on the warehousemarket in the Moscow and St. Petersburg regions. Raven Mount, through a whollyowned subsidiary, will be the property adviser to Raven Russia under a five yearagreement and will receive management and performance fees. In addition, RavenMount has been granted warrants over five per cent. of the existing sharecapital of Raven Russia at the placing price and Glyn Hirsch has become adirector of Raven Russia. Contacts: Raven Mount plc Anton Bilton, Chairman Glyn Hirsch, Vice-Chairman Bim Sandhu, Chief Executive 020 7235 0422 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RAV.LRAV.L