11th Dec 2019 07:00
11 December 2019
Raven Property Group Limited ("Raven" or the "Company")
Possible purchase by the Company of its own preference shares and convertible preference shares
The Board of Raven announces that the Company has entered into discussions with an institutional shareholder to buy back preference shares and convertible preference shares in the Company. The possible purchases would be conducted off market at a price of 115 pence per preference share and 92.5 pence per convertible preference share, payable in cash.
Any such purchase will be conditional, inter alia, on ordinary shareholders and convertible preference shareholders passing the resolutions necessary to authorise the purchases. The Company will make a decision about holding the preference shares and convertible preference shares purchased in treasury or cancelling them in due course.
A further announcement will be made as and when appropriate.
The information contained within this announcement relating to the purchase by the Company of its own shares is considered by Raven Property Group Limited to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.
The person responsible for arranging for the release of this announcement on behalf of the Company is Benn Garnham, Company Secretary.
Enquiries
Raven Property Group Limited Anton Bilton Glyn Hirsch
| Tel: + 44 (0) 1481 712955 |
Novella Communications Tim Robertson Fergus Young
| Tel: +44 (0) 203 151 7008 |
N+1 Singer Corporate Finance - James Maxwell / James Moat Sales - Alan Geeves / James Waterlow
| Tel: +44 (0) 20 7496 3000 |
Numis Securities Limited Alex Ham / Jamie Loughborough / Alasdair Abram
| Tel: + 44 (0) 207 260 1000 |
Renaissance Capital (South Africa) Yvette Labuschagne
| Tel: +27 (11) 750 1448 |
Renaissance Capital (Moscow) David Pipia
| Tel: + 7 495 258 7770 |
Ravenscroft 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