Raven Property Group Limited Tender Offer and Notice of GM (3295P)
October 09 2019 - 9:00AM
UK Regulatory
TIDMRAV
RNS Number : 3295P
Raven Property Group Limited
09 October 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
9 October 2019
Raven Property Group Limited
("Raven" or the "Company")
Proposed Purchase of 1 in every 44 Ordinary Shares of 1p each in
the Company ("Ordinary Shares") at 55p per share by way of a tender
offer (the "Tender Offer")
Notice of General Meeting
Raven is today posting a circular to its shareholders containing
full details of the Tender Offer and a notice of General Meeting
convened for 10.30 a.m. Greenwich Mean Time ("GMT") on Friday 8
November 2019.
On 27 August 2019, the Board of Raven announced in its Interim
Results for the six months ended 30 June 2019, that the Company
intended to offer to purchase 1 in every 44 Ordinary Shares by way
of a tender offer at a price of 55p per share. The Tender Offer
will also present tendering shareholders with an opportunity to
sell more than their pro rata entitlement (up to their entire
holding of Ordinary Shares) to the extent that other shareholders
tender less than their pro rata entitlement. In such case, surplus
tenders will be accepted in proportion to the number of additional
Ordinary Shares tendered so that the total number of Ordinary
Shares purchased does not exceed 11,621,569 (assuming no valid
conversion of the Company's Convertible Preference Shares in the
period).
If the maximum number of 11,621,569 Ordinary Shares is acquired
(assuming no valid conversion of the Company's Convertible
Preference Shares in the period), this will result in an amount of
approximately GBP6.4 million being paid by the Company to its
shareholders. It is intended that the Ordinary Shares purchased
under the Tender Offer will be cancelled and not available for
re-issue.
The Tender Offer is open to all holders of Ordinary Shares on
the Company's register at 6.00 p.m. GMT on Thursday 7 November
2019, who may participate by tendering all or a proportion of their
holding of Ordinary Shares at 55p per share. Holders of Convertible
Preference Shares who wish to participate in the Tender Offer will
be required to convert their shares by Friday 1 November 2019 in
accordance with the terms of the Company's Articles. No Ordinary
Shares will be purchased in relation to the Tender Offer unless the
relevant resolution to be proposed at the General Meeting is
passed.
Shareholders on the Company's South African register should
refer to the separate Letter to South African Shareholders for
details of the action to be taken in relation to the Tender Offer
and the General Meeting.
Copies of the circular, tender offer forms and form of proxy
will be submitted to the National Storage Mechanism and will
shortly be available for inspection at
http://www.morningstar.co.uk/uk/NSM. In addition, the documents
will be available on the Company's website
(www.theravenpropertygroup.com/investors) and may also be obtained
from the Company Secretary.
Enquiries
Raven Property Group Limited
Anton Bilton
Glyn Hirsch Tel: +44 (0) 1481 712955
Novella Communications (public
relations adviser)
Tim Robertson +44 (0) 203 151
Toby Andrews Tel: 7008
N+1 Singer (UK joint broker)
Corporate Finance - James Maxwell
/ James Moat +44 (0) 20 7496
Sales - Alan Geeves / James Waterlow Tel: 3000
Numis Securities (UK joint broker)
Alex Ham / Jamie Loughborough / +44 (0) 207 260
Alasdair Abram Tel: 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)
Jade Cook 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFMMGGZLLGLZM
(END) Dow Jones Newswires
October 09, 2019 10:00 ET (14:00 GMT)
Raven Property (LSE:RAV)
Historical Stock Chart
From Apr 2024 to May 2024
Raven Property (LSE:RAV)
Historical Stock Chart
From May 2023 to May 2024