Schedule 1 - Raven Russia Limited

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Raven Russia Limited

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

P.O. Box 671

Regency Court

Glategny Esplanade

St. Peter Port

Guernsey GY1 3ST

Channel Islands

COUNTRY OF INCORPORATION:

Guernsey

Channel Islands

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

http://www.ravenrussia.com/

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Raven Russia was formed in July 2005 to invest in the Russian real estate market with an initial focus on the warehouse market in the Moscow and St. Petersburg regions. 

Raven Russia's strategy is to invest, for the long term, in freehold and leasehold property in Russia, which offers the prospect of attractive returns to its investors. Raven Russia will continue to seek such property opportunities, either for direct investment by entities within Raven Russia or investment with co-investment partners.

The company's immediate focus is on the completion of its development portfolio, leasing it to high quality tenants as well as taking advantage of property investment opportunities in the CIS, thereby generating an attractive rate of return for shareholders.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Up to 125 million preference shares and up to 125 million warrants to be admitted to trading on AIM as separate classes of securities and to be separately tradeable.

The preference shares are cumulative preference shares of 1 pence each.

The warrants are to subscribe for 1 ordinary share in Raven Russia at 25 pence per ordinary share.

Issue price of preference share: £1.00

Issue price of warrant: Nil

No preference share or warrant to be held in treasury.

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Proposed placing to raise up to £125 million.

Anticipated market capitalisation of Raven Russia to be unchanged (current market capitalisation is £60.22 million).

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

0% of the preference shares and warrants may be in public hands.

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None 

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Richard Wilson Jewson, Non-Executive Chairman

Anton John Godfrey Bilton, Executive Deputy Chairman

Glyn Vincent Hirsch, Chief Executive Officer

Colin Andrew Smith, Chief Operating Officer

Stephen Charles Coe, Non-Executive Director

David Christopher Moore, Non-Executive Director

Christopher Wade Sherwell, Non-Executive Director

Proposed Director: Mark Sinclair, Chief Financial Officer

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Ordinary shares

Before admission:

Invesco - 19.38%

Lansdowne Partners - 7.17%

F&C Asset Management Limited - 6.57%

Schroder Investment Management - 6.69%

Laxey Partners - 6.06%

Mackenzie Financial Corp - 5.78%

Credit Suisse as principal - 3.80%

Deutsche Bank as principal - 3.35%

Aviva Investors Global Services Limited - 3.12%

Lazard Asset Management Limited - 3.09%

Post admission:

The list above is expected to remain unchanged. 

Preference shares and warrants

Invesco will hold 75 million preference shares and 75 million warrants following admission. 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None other than the professional advisers and trade suppliers disclosed in the admission document posted 25 February 2009.

ANTICIPATED ACCOUNTING REFERENCE DATE 

DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

The accounting reference date is 31 December.

This information is publicly available and can be found on the company's website.

Raven Russia will be required to publish its annual accounts for the 12 months ending 31 December 2008 on or before the 30 June 2009 and will be required to publish its half yearly accounts for the 6 months ending 30 June 2008 on or before 30 September 2009.

EXPECTED ADMISSION DATE:

25 March 2009

NAME AND ADDRESS OF NOMINATED ADVISER:

Numis Securities

The London Stock Exchange Building 10 Paternoster SquareLondon EC4M 7LT

NAME AND ADDRESS OF BROKER:

Numis Securities

The London Stock Exchange Building 10 Paternoster SquareLondon EC4M 7LT

Singer Capital Markets

One Hanover Street

London W1S 1AX

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

http://www.ravenrussia.com/

The admission document was posted to Raven Russia's shareholders on 25 February 2009 and contains full details about the applicant and the admission of its securities.

DATE OF NOTIFICATION:

10 March 2009

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