2nd Oct 2006 07:02
Raven Mount plc02 October 2006 RAVEN MOUNT PLC ('RAVEN MOUNT') ISSUE OF SHARES The Board of Raven Mount announces the issue of a further 1,003,434 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, following which the total number of Ordinary Shares in issue will be107,789,215. The Additional Consideration of £1,289,714 represents additional considerationpayable in respect of Sheffield Phase 2 under the terms of the AcquisitionAgreement. The Additional Consideration is payable wholly in Ordinary Sharesissued at 128.53 pence per Ordinary Share, being the average share price in thethree month period to 30 September 2006. Post the issue of these new Ordinary Shares, Anton Bilton and Bim Sandhu have adirect or indirect (through trusts) interest in 26,187,302(24.29%) and13,096,580(12.15%) Ordinary Shares respectively. In addition, Santon CapitalPlc (which is wholly owned by Anton Bilton and Bim Sandhu) and its subsidiarySanton Investments Ltd retain an interest in 7,750,000 (7.19%) Raven MountOrdinary Shares of 0.1p each. The combined holding together with their interestin Santon Capital Plc is 47,033,882(43.64%) Ordinary Shares. The maximum consideration, payable in Ordinary Shares, for RPH is £39.9 million.£12.5 million was paid on completion of the purchase in December 2004, £6.1million was paid in March 2005, £14.0 million was paid in September 2005 andtogether with the above payment of £1.3 million, the total consideration paid todate is £33.9 million. A further maximum amount of approximately £6.0 million,payable in Ordinary Shares, could be due to Anton Bilton and Bim Sandhu(directly or indirectly), depending on the successful outcome of variousproperty transactions, which properties were acquired in December 2004. Application has been made for 1,003,434 Ordinary Shares of 0.1p each of RavenMount to be admitted to trading on the Alternative Investment Market of theLondon Stock Exchange ('AIM'). It is expected that the new Ordinary Shares willbe admitted to trading on AIM on 3 October 2006. Enquiries:Andre ConfavreuxCompany Secretary01784 464351 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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