21st Dec 2006 12:18
Raven Mount plc21 December 2006 RAVEN MOUNT PLC ('RAVEN MOUNT') ISSUE OF SHARES The Board of Raven Mount announces the issue of a further 312,779 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 be108,101,994 (this complies with the DTR Transitional Provisions as to subsequentalterations to the announcement made on 15 December 2006). The Additional Consideration of £402,015 represents additional considerationpayable in respect of Coln Phase 1 under the terms of the Acquisition Agreement. The Additional Consideration is payable wholly in Ordinary shares issued at128.53 pence per Ordinary share, being the average share price in the threemonth 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 26,395,801(24.42%) and13,200,860(12.21%) Ordinary shares respectively. In addition, Santon CapitalPlc (which is now wholly owned by Anton Bilton and Bim Sandhu equally) and itssubsidiary Santon Investments Ltd retain an interest in 7,750,000 (7.17%) inRaven Mount Ordinary shares of 0.1p each. The combined holding together withtheir interest in Santon Capital Plc is 47,346,661 (43.80%) Ordinary shares. The maximum consideration, payable in Ordinary shares, for RPH is £39.9 million. The total consideration paid to date, including the above payment of £0.4million, is £34.3 million. A further amount of approximately £5.6 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, including Coln (further phases), Mote Park and Brackley,up to 31 December 2007. Application is being made for 312,779 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 or after 2 January 2007. 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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