11th Mar 2020 16:30
11 March 2020
Raven Property Group Limited ("Raven" or the "Company")
Conditional purchase of its own ordinary shares, preference shares and convertible preference shares
Further to the Company's announcement of 13 February 2020 and in light of recent market turmoil, the Company has agreed with Invesco Asset Management Limited (acting as agent for its underlying funds) an effective extension of the long stop dates in each of the purchase agreements from 31 March 2020 to 31 July 2020. However, and as a consequence of a change in investment manager of one of the underlying funds, the extended long stop dates will only relate to the following purchases of shares:
Ordinary shares (RAV) - 139,678,106
Preference shares (RAVP) - 38,936,295
Convertible preference shares (RAVC) - 42,118,860
The agreement in respect of the purchase of the remaining 2,867,223 preference shares will lapse on 31 March 2020.
A further announcement will be made as and when appropriate.
Enquiries
Raven Property Group Limited Anton Bilton Glyn Hirsch
| Tel: + 44 (0) 1481 712955 |
Novella Communications (public relations adviser) Tim Robertson Fergus Young
| Tel: +44 (0) 203 151 7008 |
N+1 Singer (UK joint broker) Corporate Finance - James Maxwell / James Moat Sales - Alan Geeves / James Waterlow
| Tel: +44 (0) 20 7496 3000 |
Numis Securities Limited (UK joint broker) Alex Ham / Jamie Loughborough / Alasdair Abram
| Tel: + 44 (0) 207 260 1000 |
Renaissance Capital (South African broker) Yvette Labuschagne
| Tel: +27 (11) 750 1448 |
Renaissance Capital (Russian broker) David Pipia
| Tel: + 7 495 258 7770 |
Ravenscroft (TISE sponsor) Emma Ozanne
| Tel: + 44 (0) 1481 729100 |
About Raven Property Group
Raven Property Group Limited was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares and preference shares are listed on the Main Market of the London Stock Exchange and admitted to the Official List of the UK Listing Authority and the Official List of The International Stock Exchange ("TISE"). Its Ordinary Shares also have a secondary listing on the main board of the Johannesburg Stock Exchange and the Moscow Stock Exchange. Its convertible preference shares are admitted to the Official List of TISE and to trading on the SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow and Cyprus and has an investment portfolio of circa 1.9 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novgorod and 49,000 square metres of commercial office space in St Petersburg. For further information visit the Company's website: www.theravenpropertygroup.com
Related Shares:
RAV.L