Raven Property Group Limited Tender Offer and Notice of GM (5308Y)
September 09 2020 - 11:00AM
UK Regulatory
TIDMRAV
RNS Number : 5308Y
Raven Property Group Limited
09 September 2020
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 September 2020
Raven Property Group Limited
("Raven" or the "Company")
Proposed Purchase of 1 in every 16 Ordinary Shares of 1p each in
the Company ("Ordinary Shares") at 36p per share by way of a tender
offer (the "Tender Offer")
Notice of General Meeting
Raven is today publishing a circular to its shareholders
containing full details of the Tender Offer and a notice of General
Meeting convened for 10.30 a.m. on Tuesday 29 September 2020.
On 1 September 2020, the Board announced in its Interim Results
for the six months ended 30 June 2020, that the Company intended to
offer to purchase 1 in every 16 Ordinary Shares by way of a tender
offer at a price of 36p per share.
If the maximum number of 30,609,126 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 GBP11 million being paid by the Company to its
shareholders. It is intended that up to 6,000,000 Ordinary Shares
purchased under the Tender Offer will be held as treasury shares,
and thereafter, the remainder 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. on Monday 28 September 2020,
who may participate by tendering up to their pro rata entitlement
of their holding of Ordinary Shares at 36p per share. Holders of
Convertible Preference Shares who wish to participate in the Tender
Offer will be required to convert their shares by Wednesday 23
September 2020 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.
A copy of the circular will be submitted to the National Storage
Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism In addition,
the document 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 Tel: + 44 (0) 1481 712955
Anton Bilton
Glyn Hirsch
Novella Communications (public relations Tel: +44 (0) 203 151 7008
adviser)
Tim Robertson
Fergus Young
N+1 Singer (UK joint broker) Tel: +44 (0) 20 7496 3000
Corporate Finance - James Maxwell
/ James Moat
Sales - Alan Geeves / James Waterlow
Numis Securities Limited (UK joint Tel: + 44 (0) 207 260 1000
broker)
Alex Ham / Jamie Loughborough /
Alasdair Abram
Nathan Brown / George Shiel
Renaissance Capital (South African Tel: +27 (11) 750 1448
broker)
Yvette Labuschagne
Renaissance Capital (Russian broker) Tel: + 7 495 258 7770
David Pipia
Ravenscroft (TISE sponsor) Tel: + 44 (0) 1481 729100
Emma Ozanne
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
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END
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