9th Jul 2007 09:04
Raven Russia Limited09 July 2007 9 July 2007 RAVEN RUSSIA LIMITED (the 'Company' or 'Raven Russia') FURTHER TRANSACTION FOR RAVEN RUSSIA IN MOSCOW Raven Russia Limited ('Raven Russia') (AIM: RUS.L), the Guernsey registered AIMlisted property investment company announces a further transaction in Moscow,Russia. Raven Russia has entered into legal contracts to forward fund and develop a109,000 square metre (1,162,500 square feet) logistics and distribution complexin a 50:50 joint venture with a Russian partner, SKF (Stroitelnaya KompaniyaFelix). SKF is a group which provides architectural, project management andconstruction services in both the Russian Federation and Belarus. Its majorclients include Gazprom, Purgaz, Gazpromneft (former Sibneft), Slavnevt, BelarusRailways and Belarus Government. The project will be built on a 18ha (44.2 acre) site to the south of Moscowwithin the town of Klimovsk near the Simferopolskoe (M2) highway, 21km southfrom the MKAD (the orbital motorway). The location provides good access to theOuter Ring Road of Moscow and Klimovsk provides a pool of skilled personnel. The end value of the project, once built and let, is estimated by the propertyadviser, at US$112* million, structured to produce a net yield to Raven Russiaof approximately 12.13%* once it has acquired the JV's partner's share of theproject on completion. The property will be constructed to Grade A westernstandards and it is intended to be complete by mid 2009. \* This should not in any way be construed as a profit forecast or an indication of future performance for Raven Russia For further information: Jeremy Carey/Richard Sunderland Bruce GarrowTavistock Communications Numis Securities LtdTel: (0)20 7920 3150 Tel: (0)20 7260 1345 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RAV.L