Result of General Meeting and Tender Offer

Raven Russia Limited ("Raven Russia" or the "Company")

Result of General Meeting and Tender Offer

Raven Russia announces that, at the General Meeting of the Company held at 9:00 a.m. today, the special resolution put to ordinary shareholders was duly passed.

Defined terms used in this announcement shall have the same meaning as set out in the Tender Offer circular to shareholders dated 11 September 2015.

A summary of the votes lodged by proxy is as follows:

Notes:

1. "Votes For" includes those giving the Chairman discretion and votes "For" and "Against" are expressed as a percentage of votes received.

2. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the votes "For" and "Against" a resolution.

3. Total number of Ordinary Shares in issue at 9.00 a.m. on 13 October 2015 was 697,397,099 Ordinary Shares. 70.12% of voting capital was instructed.

Raven Russia can confirm that a total of 291,185,430 Ordinary Shares have been tendered in connection with the Tender Offer. Tenders for up to and including the Tender Offer Entitlement of 1 Ordinary Share for every 47 Ordinary Shares at 47 pence per share will be met in full. Tenders received for surplus Ordinary Shares will be met at the rate of 0.0052602171 Ordinary Shares for each surplus Ordinary Share tendered over and above the tender offer entitlement of 1 for 47, rounded down to the nearest whole Ordinary Share.

Following the exercise of Warrants, a total of 14,838,266 Ordinary Shares will be purchased pursuant to the Tender Offer, resulting in approximately £6.97 million being paid by the Company to its ordinary shareholders. All of the 14,383,266 Ordinary Shares purchased by the Company will be cancelled. Cheques will be dispatched for certificated Ordinary Shares purchased pursuant to the Tender Offer and payment will be made through CREST for uncertificated Ordinary Shares purchased pursuant to the Tender Offer, in each case, by 23 October 2015.

A copy of the resolutions concerning special business and passed at today's General Meeting is available at the National Storage Mechanism and is available for viewing online at: http://www.hemscott.com/nsm.do.

Enquiries 

Raven Russia Limited Tel: + 44 (0) 1481 712955

Anton Bilton

Glyn Hirsch

Novella Communications Tel: +44 (0) 203 151 7008

Tim Robertson

Ben Heath

N+1 Singer Tel: +44 (0) 20 7496 3000

Corporate Finance - James Maxwell / Ben Griffiths

Sales - Alan Geeves / James Waterlow

Barclays Bank Plc

Tom Boardman / Tom Macdonald Tel: +44 (0) 20 7623 2323

Kinmont

Jonathan Gray Tel: + 44 (0) 207 087 9100

Kinmont Limited is advising Raven Russia in relation to the Tender Offer and no one else and will not be responsible to anyone other than Raven Russia for providing the protections afforded to customers of Kinmont Limited nor for providing advice in relation to the Tender Offer.

About Raven Russia

Raven Russia was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, Preference Shares and Warrants are listed on the Main Market of the London Stock Exchange with a market capitalisation of approximately £290 million. The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.5 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk. For further information visit the Company's website: www.ravenrussia.com