Raven Russia Share Discussion Threads

[m4rtinu] 01/6/2018 17:17

So RAV etc from Monday.

[kenny] 10/5/2018 23:30

Based upon past experience, a lot of holders tender their entire holding so the "excess" not tendered is small as it is spread out between all holders, with the biggest holders receiving most of the excess.

[m4rtinu] 09/5/2018 14:53

FWIW - I've had my election to tender notification through. I did have to pester IWEB about it, but they responded with e-mail and link to the relevant "tick options" within a couple of hours.

[igbertsponk] 09/5/2018 09:44

Buyback price always set much higher than the share price to make it an effective dividend that everyone elects for. They've had to adjust the buyback price upwards in the past when the share price has caught up between declaration and closing date.

[irish_neris] 09/5/2018 09:37

Some donkey this. Would have thought by now it'd be up closer to the 52p mark been offered for the buyback.

[m4rtinu] 02/5/2018 17:34

This is the only date I can find, in recent RNS (and re-iterating same in Annual Accounts). It is not clear when the tender has to be done by. I have had nothing via my on-line platform (Halifax).

"The Tender Offer is open to all holders of Ordinary Shares on the Company's register at 6.00 p.m. on Wednesday 30 May 2018, who may participate by tendering all or a proportion of their pro rata entitlement of Ordinary Shares at 1 for 17 at 52p per share. No Ordinary Shares will be purchased in relation to the Tender Offer unless the relevant resolution to be proposed at the Annual General Meeting is passed." MU

[cwa1] 02/5/2018 10:44

Already had mine in from iDealing FWIW.

[my retirement fund] 02/5/2018 10:21

Not sure what the time frame will be does anyone know when the brokers are likely to ask holders if they want to tender ?

[m4rtinu] 30/4/2018 19:18

MRF - thanks.

[my retirement fund] 30/4/2018 19:00

Well I'll be tendering mine unless they advance to 52p a situation where it's not worth tendering which has happened in the past.

[m4rtinu] 30/4/2018 17:59

MRF - As I understand it, RUS are offering to buy 1 in 17 in the tender offer/ "div" at 52p and there is the option to sell more up to one's total holding, depending on what other holders opt to sell. Is this a gift of 7p from here (less costs) or am I being dim? Thanks in advance for your view on this. MU

[my retirement fund] 30/4/2018 15:21

45p a key level. A breakout of this will open the way for 50p and back to a sensible level imo.

[zcaprd7] 13/4/2018 14:01

Any news, I was hoping this would drift lower?

[irish_neris] 29/3/2018 13:19

And probably more to come when the Russians react to the msss eu diplomatic expulsions.

[gfrae] 29/3/2018 10:17

Anti Russian hysteria is certainly not helping !

[m4rtinu] 29/3/2018 09:57

Gfrae - I am no expert but I agree with your view. It is like selling a small proportion of a holding, so hopefully a capital gain; though anti_Russia sentiment not helping share price at present.

[gfrae] 29/3/2018 08:27

A technical question.. can anyone tell me whether the the "dividend" or distribution by way of a buyback of 1 in 17 shares counts as income or capital for tax purposes ?
I would have thought that it was subject to CGT but the company call it a dividend.

[davebowler] 28/3/2018 12:56

Equity Development;


Raven Russia is a Guernsey registered property investment company specialising in Russian commercial real estate. The portfolio focus is investment and development of high quality Class A warehouse complexes in major cities let to Russian and international tenants.

Recent FY17 results and the distribution to ordinary shareholders were both ahead of market expectations, and continuing stabilisation of group finances coincides with increasingly positive economic and property market data. That should shift the investment focus back on the group’s core business and Raven’s competitive positioning as a market leading provider of Russian warehousing and 3rd party logistics. It has capacity to grow, and the potential to capitalise upon Russia’s determination to modernise its economy, supply chain and infrastructure.

The results featured 10% y-o-y NOI growth, 19% in underlying EPS, and a 50% increase in the final distribution to 3p/share. Diluted NAV/share was also 13% ahead at 80c (57.5p), backed by the first uplift in appraised asset values for five years.

Raven has capitalised on £211m raised via two convertible preference share issues to build the sustainability of its financial base. The proceeds funded (a) $209m of high-yield acquisitions, which have added c $24m to the rent roll, and (b) debt reduction and renegotiation of facility terms, including reduced annual amortisation rates.

The shares are underpinned by earnings growth and an attractive yield (paid via a tender offer to buy back shares) and the positive NAV outlook. The group’s financial footing has been assisted by the improved macro and domestic real estate market backdrops. Key economic data (GDP, inflation, interest rates) are stabilising, core lettings and investment markets are operating more conventionally.

Our forecasts are conservative i.e. absorb the impact of the transition to Rouble rents but assume no further acquisitions despite $267m of year-end cash, which could clearly have a material positive impact on NOI and EPS.

[m4rtinu] 15/3/2018 09:22

Hambro doubled stake from 5% to 10%.

[m4rtinu] 14/3/2018 09:10

Dept Chair bought 1m shares yesterday.

[irish_neris] 13/3/2018 10:49

Normal service resumes today in the red

[m4rtinu] 12/3/2018 08:47

Also they appear to have "underwritten" shares at 52p. 1 in 17 buy back plus able to subscribe for more if want to. Is my interpretation of this correct?

[horndean eagle] 12/3/2018 08:24

Results were ok. Could have done with more progress on vacant space. Hopefully Russian rates continue to fall and we can lower cost of debt. I feel they are being a little too generous with payouts. Could do with them building up equity buffer.

[catsick] 12/3/2018 08:05

Was just going to say results look decent and may be worth getting back into the rus again as now just hold rusp and rusc but seems to have already popped !

[my retirement fund] 12/3/2018 07:40

Results ahead and property prices in Moscow recovering fast. Nice filip on the UK land 20mil profit on a 700k investment. Nice work if you can get it.