15th Mar 2005 17:13
Raven Mount plc15 March 2005 RAVEN MOUNT PLC ("RAVEN MOUNT") ISSUE OF SHARES The Board of Raven Mount announces the issue of a further 7,627,516 ordinaryshares pursuant to the acquisition of the entire share capital of Raven PropertyHoldings plc ("RPH"), as approved by shareholders at the EGM on 13 December2004. 7,532,922 ordinary shares are to be issued following confirmation of theCompletion Accounts of RPH. The net assets of RPH amounted to £11,026,338, whichis £636,338 greater than the deemed value of the Initial Consideration shares.As a result, an additional 795,422 ordinary shares will be issued together withthe 6,737,500 ordinary shares required under the Acquisition Agreement. 94,594 ordinary shares are also to be issued in relation to an excess on therealised value of certain assets referred to in the Acquisition Agreement. Theseshares were due to be issued on 31 March 2005 but for administrative conveniencehave been included as part of this share issue. Post the issue of these new shares, Santon Capital Plc (formerly The RavenProperty Group Plc) and its subsidiary Santon Investments (formerly Ravenheath)have an interest in 7,750,000 Raven Mount Plc Ordinary shares of 0.1p each inwhich Anton Bilton and Bim Sandhu each have a 66.67% and 33.33% interestrespectively. They also have direct or indirect (through trusts) interests in afurther 11,751,168 (13.73%) shares - Anton Bilton; and 5,876,348 (6.86%) shares- Bim Sandhu. Their combined holding together with their interest in SantonCapital Plc is 25,377,516 (29.64%) Ordinary shares Application has been made for 7,627,516 ordinary shares of 0.1 pence each ofRaven Mount plc to be admitted to trading on the Alternative Investment Marketof the London Stock Exchange ("AIM"). It is expected that the new ordinaryshares will be admitted to trading on AIM on 18 March 2005. Enquiries: Andre Confavreux Company Secretary 01784 464351 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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