Raven Prop P Discussion Threads

[zangdook] 17/5/2024 22:01

They seem a little confused about domicile and listing. The shares have been unlisted for nearly two years.

[wskill] 17/5/2024 19:02

Thanks SteMis will just hold on for a resolution of this conflict which will happen in the fullness of time I believe.

[stemis] 17/5/2024 14:56

I've now had an answer back from AJ Bell regarding the consequence of the re-domicile of Raven from Guernsey to the Abu Dhabi Global Market (ADGM) and their message "...Once the company completes its migration to the ADGM, the shares will no longer be CREST eligible and as a result, share certificates will be issued in place of the electronic holdings"

Their reply is

Please be advised, I have now heard back from the relevant team who have informed me that there's no issues with the pension rules holding unlisted shares in the SIPP.

We wouldn't allow customers to purchase new investments in unlisted shares but if previously listed ones become unlisted, they can continue to hold them.

It could be difficult down the line to sell and/or transfer the assets but this will be up to you to consider if you wish to take that risk or sell it before it delists.

That's helpful. Should the situation in Russia be resolved I think they would re-list the shares so hopefully there'd be a way through their last point.

[zangdook] 16/5/2024 15:43

I don't see why the matched bargain facility should be affected by little Rishi's silly sanctions. Why would it affect only the prefs and not the ords?

[wskill] 16/5/2024 14:18

Yes did see that as well but not in drawdown I am sure AJ Bell will find a way in the fullness of time,Hold some with Barclays in a few accounts nothing flagged up by them yet although they moved some out of a ISA to a dealing account some time ago.

[stemis] 16/5/2024 13:16

Yes, I saw that and obviously I hope they find a way. I was simply pointing out some of the difficulties and consequences.

[dandigirl] 16/5/2024 12:40

SteMis: Our message included the words:

We are currently investigating whether you will have the opportunity to withdraw share certificates to be held directly in your own name, should you wish to.

Further information will be issued upon receipt.

[stemis] 16/5/2024 12:38

My SIPP is, at least partially, in drawdown so at least that's not the problem.

[laughton] 16/5/2024 12:35

Hmmm - mine are held with iDealing who, historically, won't deal in anything outside of Crest so will be interesteing to see what their approcah turns out to be.

Mine are held within a SSAS (so, similar situation to a SIPP).

[pbaker] 16/5/2024 12:34

I hold some with HL in my SIPP I have heard nothing from them yet. It maybe that the SIPP trust at AJB maybe able to hold the share certificates until you are at the point of moving into drawdown. There might also be an option where because of the sanctions they say they have a zero value so they may not be a tax issue, though that is just me speculating. The UK government sanctions on Raven(and all other sanctions are pretty pointless) are frustrating what difference will they make to the outcome of the war? None. Will they cause any issues for the Russian government? No. Will they cause problems for legitimate shareholders and investors whilst still having no issues to the Russians? Yes.
Not sure if it is worth wasting your time but you could write to your MP. Maybe the war will end before this all goes through, we can only hope. As always I pray for peace and dividends.

[stemis] 16/5/2024 12:02

I don't know if anyone, like me, holds these in a SIPP but I have just been notified by AJ Bell that, as a consequence of the re-domicile from Guernsey to the Abu Dhabi Global Market (ADGM)

"...Once the company completes its migration to the ADGM, the shares will no longer be CREST eligible and as a result, share certificates will be issued in place of the electronic holdings"

That's likely to be a problem in that at the moment the shares are not held in my name (they are in the name of my SIPP, which is a trust arrangement) so it would need AJB to transfer them to me first, which would be a withdrawal from the SIPP, before issuing the certificate in paper form.

God knows what the tax effect of that would be.

They also say

Further to our previous communication, we have received an update regarding Raven Property Group Limited Preference Shares. The Matched Bargain Facility is not available to preference share holders due to applicable restrictions on Russian assets.

Which 'may' prevent a transfer from the SIPP to me personally !!

[my retirement fund] 02/5/2024 10:46

How are they managing to pay themselves? Given that they have a long track record of taking embarrassing large payments out of the company for their services in the past. In fact, grossly obscene sums from the Woodford fundraising days I seem to recall.

[keith95] 02/5/2024 09:45

Any holdings in the company have already been moved out of ISAs to trading accounts … so no would be the answer because UK laws would not be applicable.

There may be some SIPPs that will allow RAVP to be held but I suspect again, that for most holders, the only option will be position reduction, ie sales - and costs there likely to be expensive.

Since most, I imagine have written off this investment … any return is obviously better than nothing - and as such we owe directors thanks for keeping the possibility for returns alive - and is more than one hopes for Putin.

[rahosi] 02/5/2024 07:59

Does anyone know if the company redomiciles to ADGM, holdings can be held in an ISA?

[holts] 01/5/2024 20:50

hxxps://www.theravenpropertygroup.com/investors/investor-presentations/

[tiltonboy] 01/5/2024 19:31

2022 results out and a comprehensive report

[stemis] 02/4/2024 13:59

I also wish for peace.

But if what it takes to get the dividends is for Ukraine to be forced to surrender or into a peace deal that involves handing over part of its territory to an invading Russia, then I'd rather not have them...

[pbaker] 02/4/2024 13:43

Thanks Rahosi. The preference are trading at less than the potential accumulated dividends. Though at least someone still sees some value in them. The ordinaries are being bought probably for the voting rights. As always I pray for peace and dividends.

[rahosi] 02/4/2024 11:47

Updated Settled trades:

Date of transaction Type of Share Volume Price (GBp)
28/06/2023 Ordinary.. 00,200,023 05.1
31/10/2023 Ordinary.. 00,300,000 01.1
21/12/2023 Ordinary.. 10,561,294 00.2525
21/12/2023 Preference 00,013,059 11.45p
28/03/2024 Preference 00,030,766 11.25p

[ramellous] 27/3/2024 11:48

Interesting developments in an Austrian bank trying to repatriate Russian capital

[rahosi] 25/3/2024 15:23

25 March 2024 Result of adjourned Annual General Meeting Raven announces that, at the adjourned Annual General Meeting (“AGM”) of the Company held at 9:30 a.m. today, resolution 4 as set out in the Notice of 2023 AGM dated 12 December 2023 and the Notice of adjourned 2023 AGM dated 11 March 2024 (together the “Notices”;) was duly passed following a poll on the resolution.
Defined terms used in this announcement shall have the same meaning as set out in the Notices.

Annual General Meeting Poll Results
4 That the financial statements and reports of the directors and auditors for the year ended 31 December 2022 be received.
Resolution For (see note 1) Against (see note 1)
FOR.... - Number of votes 413,055,773 % 96.08
AGAINST - Number of votes 016,861,336 % 03.92
Number of votes withheld..006,815,471
Total votes cast 429,917,109

Notes:
1. "Votes For" includes those giving the Chairman discretion and votes "For" and "Against" are expressed as a percentage of votes received.
2. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the votes "For" and "Against" a resolution.
3. At 6.00 p.m. on 21 March 2024, there were 566,493,370 ordinary shares and 216,634,485 preference shares in issue, 55.56% and 56.32% of the ordinary and preference share capital was instructed.

Enquiries Raven Property Group Limited Anton Bilton Glyn Hirsch

[rahosi] 25/3/2024 08:00

Reconvened AGM of the Company today. 09:30 25 March 2024 at Carey House, Les Banques, St Peter Port, Guernsey GY1 4BZ

Hopefully we'll hear the details of the re-domiciling of Raven Property Group Limited (“RPG”) from Guernsey to the Abu Dhabi Global Market financial free zone.

[ravenrussia] 24/3/2024 13:06

Yes, this was also progressing in the December update

With the move to new stock exchange...hopefully we can then see some value

Wonder how long it woukd take tore list on a new exchange

[keith95] 21/3/2024 19:43

From the update:

"Following their acquisition of the Russian business in July 2022, the Russian management team re-domiciled the entities in their Cypriot holding
company structure to the Abu Dhabi Global Market financial free zone (“ADGM”) and renamed the principal holding company Phoenix Property
Group (“Phoenix̶1;).
We also intend to re-domicile Raven Property Group Limited (“RPG”) from Guernsey to the ADGM.
A circular setting out this proposal should be issued to all shareholders later this month and sets out in more detail the necessary changes to our
memorandum and articles of association and terms of our equity instruments."

and

"A number of our shareholders have told us that they have written their shareholding to zero; we do not share their view. The underlying Phoenix
property portfolio is still market-leading and continues to perform strongly.
The executive team remains fully committed to its task."

I suspect thanks should be due and wait for the update. Moving to ADGM looks a little more promising than moving to Moscow.

[tunley] 18/3/2024 12:11

I think it was Invesco or Perpetual (they nay be the same) who sold a large holding back to Raven.
Anyway:- STemis - many thanks for your analysis, it gives us a better perspective.