12th Jul 2005 10:40
AIM12 July 2005 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2 ALL APPLICANTS MUST COMPLETE THE FOLLOWING: COMPANY NAME: Raven Russia Limited COMPANY ADDRESS: Investec House, Le Plaiderie, St. Peter Port, Guernsey COMPANY POSTCODE: GY1 3RP COUNTRY OF INCORPORATION: Guernsey COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED INACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES: Raven Russia Limited's (the "Company") strategy will be to invest, for the long term, in freehold and leaseholdproperty in Russia which offers the prospect of attractive returns to its investors. Whilst the initial focus ofthe Company will be on warehouses, which the directors regard as an attractive asset class, the directors willconsider other asset categories if they believe they will generate appropriate returns for shareholders. The Company's initial investment and development activities will focus on the Moscow and St. Petersburg areas. Inaddition, the directors believe that there are potential opportunities in several other Russian cities. The Company has retained Raven Russia Property Management Limited, a wholly-owned subsidiary of Raven Mount Plc("Raven Mount") to act as its property adviser. The Company will also seek opportunities to enter into forward funding arrangements, sale and leasebacks andtenant partnering ventures. The directors consider that opportunities to partner multinational groups in Russiaare also likely to become available in the near future. The Company's primary focus is on property investmentrather than development. However, Raven Mount is an experienced property developer and the Company will considerdeploying a proportion of its resources to property development to the extent that such activity enhances itsaccess to property investment opportunities. Raven Russia will implement its strategy in partnership with one or more local property development andinvestment experts. It may acquire properties from such partners and may make investments in or form jointventures with them. It also has a team of local professional advisers including property consultants, legal,accounting and tax experts. Whilst it is intended that, over time, the Company will have a spread of property investments, the portfolio maybe concentrated around a small number of assets. These assets may include loans or other financial instrumentsbacked by Russian real estate. The directors, particularly in the period following Admission, may invest suchproportions of the Company's assets in any one property or portfolio of properties as they see fit providing thatthe acquisition adheres to the Company's investment strategy. The directors are not subject to any time or other restrictions in terms of investing the proceeds of theplacing, other than the investment strategy stated herein. The Company will not alter its investment strategywithout the approval of its shareholders in a general meeting. The directors have extensive experience of property investment, development and management, as well as ofinvestment company law and administration. Raven Russia Property Management Limited will perform due diligenceon potential acquisition targets, as part of its responsibility as the property adviser to the Company. DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to whichit seeks admission and the number and type to be held as treasury shares): Ordinary Shares of 1p each. Number and price to be advised. CAPITAL TO BE RAISED ON ADMISSION: £150 million FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS: Adrian John Reginald Collins (Chairman), Stephen Charles Coe (Director), Glyn Vincent Hirsch (Director), DavidChristopher Moore (Director), John Fabian Peters (Director) PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITALBEFORE AND AFTER ADMISSION: Prior to admission - the issued share capital consists of two ordinary shares, one each owned by First OvalapLimited and Second Ovalap Limited, both of which are beneficially owned by Raven Mount plc. Following admission - to be advised. NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES: None ANTICIPATED ACCOUNTING REFERENCE DATE: 31 December EXPECTED ADMISSION DATE: Late July 2005 NAME AND ADDRESS OF NOMINATED ADVISER: Cenkos Securities, 6.7.8 Tokenhouse Yard, London EC2R 7AS NAME AND ADDRESS OF BROKER: Cenkos Securities, 6.7.8 Tokenhouse Yard, London EC2R 7AS DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENTTHAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: Cenkos Securities, 6.7.8 Tokenhouse Yard, London EC2R 7AS DATE OF NOTIFICATION: 12 July 2005 NEW/ UPDATE (see note): New This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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