Raven Prop P Discussion Threads

[rahosi] 19/12/2023 10:36

AGM 29 Dec 10:30

[drradcliffe] 09/12/2023 00:25

@gfrae Maybe, but I'm not sure whether that would mean they would need local staff and additional costs. Sorry, I'm just guessing.

[gfrae] 08/12/2023 17:46

Yes, I think you are right.
Would there be any benefit of Raven Property moving there too ?

[drradcliffe] 08/12/2023 17:34

I think it's the Russian MBO, Phoenix, that has completed its move to Abu Dhabi. As far as I can see no update for Raven Property itself.

[gfrae] 08/12/2023 15:29

On the website there is an updated version of the above.
The move to Abu Dhabi has been completed.
You need to log in to the website and look for latest news.

[dandigirl] 08/12/2023 14:19

fyi

Further to our previous communication, we have received an update regarding Raven Property Group Limited.

The company continues to work with its UK advisers to navigate the sanctions terrain and the passing of control to the Russian team. The main issue it has is that counterparties, both here and in Russia, are reluctant to be involved in any cross-border movement of funds out of Russia.

As a result, the company has begun investigating the possibility of re-domiciling the company to the Abu Dhabi Global Market (ADGM), to source a wider pool of counterparties willing to engage.

Any further updates on this proposal will be released upon receipt.

Following its delisting on 28 June 2022, the company has implemented a share trading facility using a monthly matched bargain process, to assist shareholders wishing to trade their ordinary shares and preference shares.

[pbaker] 02/12/2023 14:10

dandigirl, I hope they find peace soon. Each life on either side lost is a needless waste. I miss my dividends. Though the US are not involved yet, with the US election being next year,Peace in Ukraine would be a feather in Biden's coffin.
To all RAVP shareholders Merry Christmas and wishes for a Peaceful New Year full of dividends.

[dandigirl] 02/12/2023 13:55

Came across this earlier today.

Interesting for RAVP, if correct.

""""Meanwhile, the president [Biden] and his foreign policy aides have also been left on the outside as serious peace talks between Russia and Ukraine have rapidly gained momentum.

“Everyone in Europe is talking about this”—the peace talks—an American businessman who spent years dealing with high-level Ukrainian diplomatic and military issues in the government told me earlier this week. “But there are lots of questions between a ceasefire and a settlement.” The veteran journalist Anataol Lieven wrote this week that the battlefield situation in Ukraine and thus “a ceasefire and negotiations for a peace settlement are becoming more and more necessary for Ukraine.” He said that it was “exceptionally difficult” for the Ukrainian government headed by Volodymyr Zelensky to agree to talks, given its repeated refusal to negotiate with Russian President Vladimir Putin.

The driving force of those talks has not been Washington or Moscow, or Biden or Putin, but instead the two high-ranking generals who run the war, Valery Gerasimov of Russia and Valery Zaluzhny of Ukraine...""""

[deadly] 02/11/2023 15:10

So your inflation rate is based on "talking to most people" across Europe? Signs of any brain cells there?

[pbaker] 02/11/2023 15:07

It was just pointing out that everyone reports what they want, from Russia to the EU. As always what i want from RAVP is either a stream of dividends or the Russian management to buy our Prefs back at 100p and make good the arrears. Though any of that seems just a dream. So I will wish for Peace on Earth for Christmas as well as the dividends. Merry Christmas to you all as I dream of Dividends.

[stemis] 02/11/2023 14:53

Not sure what relevance that has to RAVP

[pbaker] 02/11/2023 14:30

Look at any stats, they can be made to tell you whatever you want. Euro inflation is just 4.3% HICP. There is deflation in The Netherlands 0.3% deflation? Though talk to most people and they will tell you inflation in most basic goods is near 8%. So the EU inflation is without doubt the biggest load of BS. Though if you discount most things that are going up and give a larger weighting to things going down, hey presto The EU has low inflation. Now thats Magic.

[hindsight] 02/11/2023 12:06

Before even debate how much data is doctored, there is a reason why they have 15% base rates and large scale currency controls

[stemis] 02/11/2023 11:44

Does anyone really trust the economic data that comes out of Russia?

[pbaker] 02/11/2023 10:27

Sanctions on a country the size of Russia, mostly effect those putting the sanctions on Russia. India and most of Asia and China continue to trade with no restrictions. So they are still trading easily with most of the world.
Find a solution to the war, have Peace. Pay my dividends.

[ramellous] 02/11/2023 06:16

Sanctions not really having much effect?

Russia

Corporate profits (August) rose to Ruble 21.4 trillion from Ruble 18.6 trillion higher than expected Ruble 20.8 trillion

Real wage growth (August) 9.5% year-on-year up from 9.2% above expected 8.5%

Unemployment (September) unchanged at 3% but expected to rise to 3.1%

Business confidence (October) rose to 4.6 from 4.4 as expected

[dandigirl] 11/10/2023 17:46

pbaker: Sorry, but your comments regarding electronic banking and ease of finding an auditor suggest you are very naive.

If only things were as easy as you suggest.

[gfrae] 11/10/2023 16:51

Evraz is unable to appoint an auditor,therfore not surprising Raven having difficulty. presumably a top quality auditor is required.

[pbaker] 11/10/2023 16:13

On the point of auditors, there are some auditors who will sign of on anything, Pollypeck,Quindell, etc etc. So finding an auditor should be no issue, especially a one man band on the mean streets of Abu.

[xasy] 11/10/2023 11:07

Dear Shareholder,
The following is a short update on the Company and its principal investment. Accessing value from our preference share and loan instruments
remains extremely difficult and we continue to investigate all possible avenues. The good news however is that the underlying investee business
continues to trade above expectations.
The Russian owners have renamed the business Phoenix Property Group (“Phoenix̶1;), although still trading as Raven Russia on the ground.
Their portfolio trades at around 97% occupancy and market rents continue to increase. Local agent consensus has Moscow dry warehouse rents
at R6,900 per sqm today, compared to R5,500 per sqm at 31 December 2022, an increase of 25%.
Phoenix has also completed a full re-domiciliation of its Cypriot holding companies to the ADGM in Abu Dhabi.
The downside for the portfolio has been the Central Bank of Russia interest rate hikes to 13% following high inflation and the rapid devaluation
of the rouble in the last six months. This will eat into profitability and the group’s net asset position in the coming twelve months. We understand
that local banking relationships remain strong and the group is operating within its covenant requirements, even with these headwinds.
We, at Raven Property Group, continue to work with our UK advisers to navigate the sanctions terrain and the passing of control to the Russian
team has put us in the best position possible at this time. The main issue we have is that counterparties, both here and in Russia, are reluctant to
be involved in any cross border movement of funds out of Russia, even though we are advised that there are no sanction prohibitions in our case.
We have also begun investigating the possibility of re-domiciling the Company to the ADGM to source a wider pool of counterparties willing to
engage with us.
We are in the process of appointing new auditors, armed with strong advice that there is no legal reason for a firm to refuse our account and
we are hopeful that we can have a set of 2022 financial statements to issue to you in the coming months.
I also take this opportunity to remind shareholders that the Company has a share trading facility using a monthly matched bargain process.
Details of the facility are explained on our website in the “InvestorsR21; section. One trade has been settled in the year so far.
I look forward to issuing a fuller statement accompanied by a set of audited 2022 financial statements.
We continue to pray for peace.
Michael Hough
Chairman

[gfrae] 11/10/2023 10:35

Presumably it is sanctions by both Russia and the West which causes the difficulty in moving funds and appointing auditors. There are no sanctions in or on ADGM companies as I understand, therefore financial institutions should be prepared to deal with Phoenix.

[drradcliffe] 11/10/2023 10:15

I'm sure Michael is talking about redomiciling the Raven Property Group to the Abu Dhabi ADGM. It appears while Raven is in the UK, it doesn't have access to counterparties who'd be prepared to carry out cross border transactions that originate in Russia. That potentially changes if Raven Property Group moves to ADGM. That's how I read it anyway...

[stemis] 10/10/2023 20:25

The ADGM has banks which are more likely than most to be willing to accept a transfer of funds from Russia. Re-locating there will give better access to those banks.

I think you have misunderstood. Raven aren't going to receive funds from Russia. It's Raven Russia (Holdings) Cyprus Limited (renamed Phoenix Property Group), now owned by Raven's Russian ex management team, who'll receive the funds. They are already domiciled to the ADGM.

[dandigirl] 10/10/2023 20:02

pbaker: In theory, I agree. In practice, I don't.

For something like this, eyeball to eyeball is the way to go and that includes eyeball to eyeball in Moscow. There is a huge element of trust in what is required here and that cannot be moved electronically.

and as regards your note to mrf, if they had wanted to do that, it could have been done months ago.

Take the gloomy view as you wish but I prefer to give the board the benefit of doubt in the hope that this could all turn up for the better.