Placing and Subscription

RNS Number:3719R
Black Raven Properties PLC
02 April 2008





For Immediate Release                                               2 April 2008


                           BLACK RAVEN PROPERTIES PLC

                        ("Black Raven" or "the Company")


                      Placing and Subscription for Shares


Black Raven Properties plc (AIM: BRP), the property company that purchases and
develops residential sites with a focus on assets in Portugal, announces that it
has issued 39,500,000 new ordinary shares of 1p each ("New Ordinary Shares") in
the Company at a price of 1p per share.


The New Ordinary Shares have been issued partly in consideration of the release
of a loan of £175,000 made to the Company by Gilt Holdings Limited, and partly
by subscription of £220,000 by Jasini International SA. The placing and
subscription of new shares were agreed by the Company to provide working
capital.


Following the issue, Gilt Holdings Limited has an aggregate holding in Black
Raven of 41,166,667 ordinary shares, representing approximately 24.7 per cent.
of the Company, and Jasini International SA has an aggregate holding in Black
Raven of 22,000,000 ordinary shares, representing approximately 13.2 per cent.
of the Company.


The New Ordinary Shares, representing approximately 23.7 per cent. of the
enlarged issued share capital of the Company, will rank pari passu with the
existing ordinary shares of 1p each in the Company.

Application has been made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM, with admission expected to take place
on 8 April 2008.

In accordance with the Transparency Directive's transitional provision 6, Black
Raven's capital now consists of  166,647,444 ordinary shares of 1p each with
voting rights.

Therefore, the total number of voting rights in Black Raven is 166,647,444
ordinary shares of 1p each and may be used  by shareholders as the denominator
to determine if they are required to notify their interest in, or a change to
their  interest in, Black Raven under the FSA's Disclosure and Transparency
Rules.




For further information:


Black Raven Properties PLC
Michael Friend                                  Tel: [phone]


Arden Partners plc
Richard Day / Adrian Trimmings                  Tel: [phone]


Buchanan Communications
Mark Court                                      Tel: [phone]






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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