21st Aug 2007 16:01
Raven Mount plc21 August 2007 Raven Mount plc ("the Company")Disclosure of interest in shares Schroder Investment Management Limited Schroders have today advised the Company that its aggregate holding has reducedfrom 14,419,557 (13.01%). To 13,910,757 (12.55%) Enquiries to:Andre Confavreux - Group Company Secretary Raven Mount PLC 01784 464351Guy Peters - Nominated Adviser Shore Capital & Corporate Limited 0207 408 4090 Notes for Editors: Raven Mount is an AIM listed company whose principal areas of operation areproperty fund management, property development and the development and operationof 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 £40 million payable in Raven Mount shares andbegan a strategic reinvention of the business. In July 2005, Raven Mount subscribed £10 million towards the £153 million (153million shares) flotation of Raven Russia Limited ('Raven Russia') on AIM. RavenRussia was formed at Raven Mount's instigation as a vehicle for institutionalshareholders to invest in the Russian property market with an initial focus onthe Warehouse property market in the Moscow and St Petersburg regions. RavenMount's wholly owned subsidiary, Raven Russia Property Management Limited, actsas the property adviser to Raven Russia. In April 2006, Raven Russia raised afurther £310 million through the placing of 270 million shares at £1.15 each. 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.In 2006, Audley obtained planning permission on four separate schemes in 2006,representing a total of 408 individual units, at St. Elphins (Matlock), MoteHouse (Maidstone), Inglewood (Berkshire) and Ilkley (Yorkshire). Audley managesexisting facilities at Willicombe Park (Tunbridge Wells), Hollins Hall(Harrogate) and Flete House (Devon). Audley currently manages 168 units. In addition, Raven Mount is actively pursuing second home resort basedopportunities, both in the UK and internationally. Raven Mount currently hasoutline planning committee consent, in a joint venture with John Hitchcox andYoo Limited, comprising a hotel and 160 second homes in 500 acres in theCotswold, as well as other potential projects in the Caribbean, Brazil and theMediterranean region. The principle shareholders of Raven Mount are Anton Bilton and Bim Sandhu, whosecombined interests equate to 43.2% of the issued share capital. Other majorshareholders are Schroder Investment Management (12.55%), SilchesterInternational Investors (6.9%), Deutsche Bank AG London (5.7%), Laxey (3.4%) andMan Financial (3.2%) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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