5th Jun 2009 17:48
RAVEN RUSSIA LIMITED ("Raven Russia")
Offer closed and de-listing of Raven Mount Shares
Further to the announcement made on 2 June 2009, the Board of Raven Russia announces that the Offer closed at 1:00pm (UK time) today.
As at 1:00pm today, valid acceptances of the Offer have been received in respect of a total of 105,935,300 Raven Mount Shares representing 92.6 per cent. of the existing issued share capital of Raven Mount (including 5,728,729 which are held in treasury).
The New Preference Shares and New Warrants in respect of the 935,821 valid acceptances of the Offer received from and including 26 May 2009 up to 1:00pm (UK time) today are expected to be issued and admitted trading on the AIM Market of the London Stock Exchange ("AIM") on 8 June 2009 under the ticker "RUP4" (ISIN code: GG00B4Z1Z008).
De-listing and compulsory acquisition of Raven Mount Shares
As Raven Russia has acquired or contracted to acquire, over 90 per cent. of all Raven Mount Shares to which the Offer relates, Raven Russia is exercising its rights in accordance with sections 974 to 991 of the Companies Act 2006 to acquire compulsorily the remaining Raven Mount Shares to which the Offer relates on the same terms as the Offer. Letters and notices in the prescribed form under section 980(1) of the Companies Act 2006 were sent to non-accepting Raven Mount Shareholders on 22 May 2009.
The de-listing and the cancellation of trading in Raven Mount Shares on AIM will take effect at 7.00 am on 8 June 2009. The de-listing and the cancellation of trading of Raven Mount Shares will significantly reduce the liquidity and marketability of any Raven Mount Shares not acquired by Raven Russia.
Following the delisting and the cancellation of the admission to trading of the Raven Mount Shares on AIM, Raven Mount will be re-registered as a private limited company under the provisions of sections 979 to 982 of the Companies Act 2006.
General
Terms defined in the Offer Document have the same meaning as in this announcement.
The Offer Document can be found on Raven Russia's website: www.ravenrussia.com and Raven Mount's website: www.theravengroup.co.uk.
Enquiries
Raven Russia Limited
Anton Bilton / Glyn Hirsch Tel: +44 (0)1481 71 2955
Bell Pottinger Corporate & Financial
Charles Cook / Andrew Benbow Tel: +44 (0)20 7861 3232
Numis Securities Limited (NOMAD, Financial
Adviser and Joint Broker to Raven Russia Limited)
Nick Westlake / Rupert Krefting Tel: +44 (0)20 7260 1000
Raven Mount Group plc
Bim Sandhu / Mark Kirkland Tel: +44 (0)20 7235 0422
Oriel Securities Limited (Financial Adviser and
Joint Broker to Raven Mount Group plc)
Simon Bragg / Michael Shaw / Neil Langford Tel: +44 (0)20 7710 7600
Shore Capital and Corporate Limited (NOMAD
and Joint Broker to Raven Mount Group plc)
Guy Peters / Pascal Keane Tel: +44 (0)20 7408 4090
Related Shares:
RAV.L