Raven Prop P Discussion Threads

[redhorse2020] 13/3/2024 10:53

Yes I agree the salary, cash bonus and the fact they own around 30 percent of the stock should really be incentive enough. I guess many of the exec team will be in their 80's too by 2052 so not sure why they need to be incentivised for such a long time in any case. Anyway I guess we are where we are. Hopefully we can get something back on these one day.

[my retirement fund] 13/3/2024 10:31

That 2052 option is about as desperate as it gets. Still at least it gives an implied worth. Hope spring ertenal and all. Sorry for those here who never managed to sell. Let us all pray for Putins' speedy death and a change in Russias (and the worlds) fortunes for the better.

[pbaker] 13/3/2024 10:01

Redhorse, the company's excuse/reason is to keep the executives/employees who are trying to return income/profits to shareholders need to be incentivised. The large wage packet is not enough they also need a reason to stay? I suppose we need to keep people who understand the position of the company and because they are dealing with Russia who are very naughty they face reputational damage? I suppose it ties them into the company especially if they get close to returning cash. Perhaps the board see this taking years and years. Could the Ukraine/Russian conflict still be dragging on when/if I get to 80?
In my mind my shareholding is worth nothing. Though i remember the £12k of income a year and how they were once worth £100k. A lesson not to put so many eggs in one basket. Though I am still doing the same with RE.B I should escape there before something goes wrong. I was only going to spend the income on holidays and home improvements and the like so at least now I do not need to waste my time looking at Holidays. As always I pray for peace and dividends.

[redhorse2020] 13/3/2024 09:28

Guessing the 108 million is around 50 pence per preference share.

[redhorse2020] 13/3/2024 09:26

Wow I wonder what £108 million will be worth in 2052? :-) Anyone understand the rationale for such a long dated option?

[pbaker] 12/3/2024 16:00

1knocker it maybe our great grandchildren
After the collapse of the Soviet Union, the newly formed Russian Federation had to not only come up with a new financial strategy for its future, but also had to consider repaying the billions of dollars the Soviet Union borrowed from abroad. In 1996, Paris and Moscow signed an accord for Russia to repay a nominal value of between $80 and $100 for each of the 4 million czarist bonds believed to remain in circulation in France, for a total payout of around $400 million. Russia paid but not nearly as generously as the descendants of French bond buyers hoped.
If peace is not found then it could be 80 years, like last time. That was Russia this time it is a company and sometimes, they just run out of our money.

[1knocker] 12/3/2024 15:44

I hoped these shares would deliver something for the children, though probably not for me. I now update that to 'for the grandchildren'.

[rahosi] 12/3/2024 15:31

Today the company has confirmed to me that the year 2052 is correct and NOT a typing error.

(ii) 2023 Capital LTIP
The Company has granted a long term nil cost option over 20% of the Company’s current ordinary and preference share capital to the Company’s Employee Benefit Trust for the benefit of the employees of the Group, including the executive directors. The option runs until 31 December 2052 and is exercisable on a minimum distribution or capital event equating to £108 million in cash or listed equity.
The Board believes that these new arrangements now encourage all key staff to remain with the Group and focus on obtaining value for the shareholders.

[redhorse2020] 12/3/2024 10:44

Let's hope so! Would be interesting to go along to the AGM if I wasn't in Gurnsey. Anyone know if there's an option to join remotely? I seem to remember them doing a webinar last year but think that was just an update.

[tunley] 12/3/2024 10:41

Finally, I hope the outcome is better than what is postulated here, but it's not like we can do much about it really...

[tunley] 12/3/2024 10:40

Also don't forget Quilter (dandigirl is that you by the way) are at 30%+

[tunley] 12/3/2024 10:38

I guess (hope) 2052 is a typo and should be 2025?

[redhorse2020] 12/3/2024 09:26

Yes but "this was agreed with the largest shareholders" - who also happen to be the employees who will benefit the most from this scheme!I think 108 million should be a bit more than 15 pence per preference share but even so it seems like a pretty low bar to achieve by 2052.

[pbaker] 12/3/2024 08:59

Ramellous thank you for the clickable link.
A difficult set of accounts.
I might be being pessimistic and harsh. Please correct me if you see it differently.
All I could see was that the management team have given themselves good wages for the next 3 years. If they manage to get some of our money back they will have done a good job.
They will also get 20% of the company if they manage to return 15p per preference share before 2052?
They have 28 years to return £108million and they will get 20% of preference and ordinary shares.
Again if I get my money back with interest will i begrudge them £1-£2million a year each for 3 years and potentially £140miilion bonus, though they only need to return £108million of value.
As always I pray for peace and dividends.

[ramellous] 11/3/2024 19:48

Clickable link

[pbaker] 11/3/2024 19:37

I have tried to register again. Look forward to reading the update.
So now all we need is peace and an end to sanctions.
Then we will have dividends and maybe a listing where we can trade at sensible levels?

[ravenrussia] 11/3/2024 18:48

Reassuring update

hxxps://www.theravenpropertygroup.com/media/1644/20243011-shareholder-update.pdf

[stemis] 11/3/2024 17:26

Only resolution at the AGM is to adopt the accounts.

The accounts show a net asset value of £348,575,000 after providing £280,740,000 for preference shares (which is 129.6p per preference share, after accruing for unpaid dividends and interest thereon). So preference shares are 2.24 times covered.

The main assets are preference shares and loans to the intermediate company now owned by the Russian management, which have been written down by £208m based on a valuation by Interpath.

[tunley] 11/3/2024 16:41

'22 accounts are out on the Raven website, plus EGM proposals. Fingers crossed it's not last knockings...

[gfrae] 21/2/2024 19:30

That was very thoughtful of you.

[ravenrussia] 21/2/2024 19:06

Yes...I want to sell my ordinary shares via matched bargain facility but I was relaying what was on the website if it helps other people

I have put in a sale request and it says I will hear back on the last day of the month

[ramellous] 21/2/2024 13:13

Maybe they should move it to the UAE. My mate just came back from holiday in Dubai, said hotel was full of rowdy Russians.

[gfrae] 21/2/2024 11:58

Ravenrussia, you posted previously you were a seller of the ords.

[dandigirl] 21/2/2024 09:45

we done our dosh!

[montyhedge] 21/2/2024 08:22

Waiting for the day prefs payout. Is there a chance or we done our dosh.