29th Jan 2008 11:24
Raven Mount plc29 January 2008 Raven Mount plc (the "Company") 29 January 2008 Disclosure of interest in shares Man Financial Man Financial have advised the Company that its aggregate holding has decreased to below 3% from 3,537,848 (3.2%). Mark Kirkland, Finance Director, Raven Mount plc - 01784 464351 Guy Peters, Nominated Adviser, Shore Capital & Corporate Limited - 020 7408 4090 Notes for Editors: Raven Mount is an AIM quoted company whose principal areas ofoperation are property fund management, property development and the developmentand operation of Independent Living facilities. Raven Mount was founded in November 2003 by Anton Bilton (Executive Chairman),Bim Sandhu (Chief Executive) and Glyn Hirsch (Executive Deputy Chairman) andtook control of Swan Hill Group PLC, the housebuilder, in December 2003 in ahostile takeover supported by Swan Hill's four largest shareholders. In December 2004, shareholders approved the reversal of Anton Bilton and BimSandhu's private residential development group, Raven Property Holdings plc, fora total consideration of up to £39.9 million payable in Raven Mount shares andbegan a strategic reinvention of the business. In July 2005, Raven Mount subscribed £10 million towards the £153 millionflotation of Raven Russia Limited ('Raven Russia') on AIM. Raven Russia wasformed at Raven Mount's instigation as a vehicle for institutional shareholdersto invest in the Russian property market with an initial focus on the Warehouseproperty market in the Moscow and St Petersburg regions. Raven Mount's whollyowned subsidiary, Raven Russia Property Management Limited, acts as the propertyadviser to Raven Russia. In April 2006, Raven Russia raised a further £310million through the placing of 270 million shares at £1.15 per share. Raven Mount is actively involved in the development and management ofIndependent Living facilities for the elderly through its Audley brand in whichit has a 75% interest with the remaining 25% being owned by the management team. Audley has commenced development on four separate schemes, representing a totalof 408 individual units, at St. Elphins (Matlock, 127 units), Mote House(Maidstone, 87 units), Inglewood (Berkshire, 96 units), and Ilkley (Yorkshire,98 units). Audley owns and manages existing facilities at Willicombe Park(Tunbridge Wells, 67 units), Flete House (Devon, 30 units) and manages HollinsHall (Harrogate, 171 units), totalling 168 units under management. In addition, Raven Mount continues to investigate suitable resort/second homeopportunities, both in the UK and internationally. Raven Mount has outlineplanning consent, in a joint venture with John Hitchcox and Yoo Limited,comprising a hotel and 160 second homes in 650 acres at Coln in the Cotswolds,of which it currently has detailed consent for 52 units. The principal shareholders of Raven Mount are Anton Bilton and Bim Sandhu, whosecombined interests currently equate to 43.8% of the issued share capital. Othermajor shareholders are Schroder Investment Management (12.3%), SilchesterInternational Investors (6.8%), Deutsche Bank AG London (5.6%) and Laxey (3.4%). www.theravengroup.co.ukwww.audleylife.co.ukwww.thelakesbyyoo.comwww.ravenrussia.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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