Raven Russia Limited Acquisition Update (1403Y)
March 01 2017 - 1:01AM
UK Regulatory
TIDMRUS
RNS Number : 1403Y
Raven Russia Limited
01 March 2017
1 March 2017
Raven Russia Limited ("Raven Russia" or the "Company")
Update Re Acquisition
On 19 January 2017 the Board announced that subsidiaries of the
Company had entered into a conditional agreement ('the Agreement")
for the acquisition of a portfolio of three high quality income
producing properties in St Petersburg. The Agreement provided for
the subsidiaries of the Company to acquire a completed warehouse
and two office buildings from EPI Russia I Ky, a fund managed by
Northern Horizon Capital, for a total consideration of RUR 4.9
billion, subject to the satisfaction of certain escrow
arrangements. The Agreement had a long stop date of 28 February
2017.
As those escrow arrangements have not been satisfied by the long
stop date, a Deed of Amendment to the Agreement has been signed by
all of the parties, extending the backstop date to 31 March 2017
with the option to extend for a further 20 business days if
necessary.
The Board is confident that the outstanding escrow arrangements
are administrative in nature and that closing will be achieved.
Enquiries
Raven Russia Limited Tel: + 44 (0) 1481 712955
Anton Bilton
Glyn Hirsch
Novella Communications Tel: +44 (0) 203 151 7008
Tim Robertson
Toby Andrews
N+1 Singer Tel: +44 (0) 20 7496 3000
Corporate Finance - James Maxwell / Liz Yong
Sales - Alan Geeves / James Waterlow
Ravenscroft Tel: + 44 (0) 1481 729100
Semelia Hamon
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 and admitted to the
official list of the Channel Islands Securities Exchange Authority
Limited ("CISEA"). Its Convertible Preference Shares are admitted
to the CISEA Official List and trading on the SETSqx market of the
London Stock Exchange. 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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