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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Raven Property Group Limited | LSE:RAV | London | Ordinary Share | GB00B0D5V538 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.82 | 3.95 | 4.01 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMRAV
RNS Number : 8016A
Raven Property Group Limited
31 May 2019
31 May 2019
Raven Property Group Limited ("Raven" or the "Company")
Result of Annual General Meeting, Directorate change and Tender Offer
Raven announces that, at the Annual General Meeting ("AGM") of the Company held at 10:00 a.m. today, the resolutions set out in the Notice of 2019 AGM dated 29 April 2019, were duly passed following a poll on each resolution.
Defined terms used in this announcement shall have the same meaning as set out in the Notice of 2019 AGM or Tender Offer circular to Shareholders both dated 29 April 2019.
Annual General Meeting Poll Results
Hot Features
Premium
Resolution For (see note Against (see Number Total votes
1) note 1) of votes cast
withheld
(see note
2)
Number % Number %
of votes of votes
------------ -------- ----------- -------
To receive
the Annual
Report and
1 Accounts 538,967,952 97.40% 14,411,850 2.60% 4,791 553,379,802
--------------------- ------------ -------- ----------- ------- ----------- ------------
To approve
the Directors'
Remuneration
2 Report 475,910,565 86.00% 77,469,236 14.00% 4,791 553,379,801
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
3 Richard Jewson 471,065,232 85.13% 82,313,672 14.87% 5,688 553,378,904
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
4 Anton Bilton 531,364,393 96.02% 22,014,512 3.98% 5,688 553,378,905
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
5 Glyn Hirsch 538,964,518 97.40% 14,414,387 2.60% 5,688 553,378,905
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
6 Mark Sinclair 538,964,518 100.00% 6,465 0.00% 14,413,610 538,970,983
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
7 Colin Smith 538,962,667 100.00% 8,316 0.00% 14,413,610 538,970,983
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
Christopher
8 Sherwell 463,344,823 83.76% 89,805,472 16.24% 234,297 553,150,295
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
9 David Moore 519,410,342 93.90% 33,739,953 6.10% 234,297 553,150,295
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
10 Michael Hough 538,964,518 97.40% 14,414,387 2.60% 5,688 553,378,905
--------------------- ------------ -------- ----------- ------- ----------- ------------
To re-appoint
Ernst & Young
11 as auditors 552,124,564 99.77% 1,255,238 0.23% 4,791 553,379,802
--------------------- ------------ -------- ----------- ------- ----------- ------------
To authorise
the Directors
to fix the
remuneration
12 of the auditors 545,274,064 98.54% 8,105,737 1.46% 4,791 553,379,801
--------------------- ------------ -------- ----------- ------- ----------- ------------
To authorise
the Directors
to allot
ordinary
shares, convertible
preference
shares and
preference
13 shares 538,964,886 97.40% 14,414,916 2.60% 4,791 553,379,802
--------------------- ------------ -------- ----------- ------- ----------- ------------
To authorise
the Company
to make market
purchases
of its ordinary
14* shares 553,374,738 100.00% 5,064 0.00% 4,791 553,379,802
--------------------- ------------ -------- ----------- ------- ----------- ------------
To authorise
the Company
to make market
purchases
of its convertible
preference
15* shares 538,966,816 97.40% 14,412,986 2.60% 4,791 553,379,802
--------------------- ------------ -------- ----------- ------- ----------- ------------
To authorise
the Company
to make market
purchases
of its preference
16* shares 553,374,738 100.00% 5,064 0.00% 4,791 553,379,802
--------------------- ------------ -------- ----------- ------- ----------- ------------
To authorise
the Company
to make market
purchases
of its ordinary
shares pursuant
to the tender
offer buy
17* back 545,273,146 98.54% 8,106,655 1.46% 4,791 553,379,801
--------------------- ------------ -------- ----------- ------- ----------- ------------
To dis-apply
pre-emption
rights on
the issue
of ordinary
18* shares 538,964,886 97.40% 14,414,019 2.60% 5,688 553,378,905
--------------------- ------------ -------- ----------- ------- ----------- ------------
To dis-apply
pre-emption
rights on
the issue
of ordinary
shares for
a specific
19* transaction 538,964,886 97.40% 14,414,019 2.60% 5,688 553,378,905
--------------------- ------------ -------- ----------- ------- ----------- ------------
VOTES OF SHAREHOLDERS EXCLUDING CONTROLLING SHAREHOLDER
As the Company has a controlling shareholder, Invesco Asset Management Limited (as agent for and on behalf of its discretionary managed clients), as defined in the Financial Conduct Authority's Listing Rules, each resolution to elect an independent director (resolutions 8, 9 and 10) has under Listing Rule 9.2.2E been approved by a majority of the votes cast by:
-- the shareholders of the Company as a whole; and
-- the independent shareholders of the Company, that is, all the shareholders entitled to vote on each resolution excluding the controlling shareholder as shown in the table below.
Resolution For (see note Against (see Number of Total votes
1) note 1) votes withheld cast
(see note
2)
Number % Number %
of votes of votes
------------ ------- ----------- -------
To re-appoint
Christopher
8 Sherwell 269,478,072 75.00% 89,805,472 25.00% 234,297 359,283,544
--------------- ------------ ------- ----------- ------- ---------------- ------------
To re-appoint
9 David Moore 325,543,591 90.61% 33,739,953 9.39% 234,297 359,283,544
--------------- ------------ ------- ----------- ------- ---------------- ------------
To re-appoint
10 Michael Hough 345,097,767 95.99% 14,414,387 4.01% 5,688 359,512,154
--------------- ------------ ------- ----------- ------- ---------------- ------------
*Special Resolution
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. The total number of Ordinary Shares in issue at 6.00 p.m. on 29 May 2019 was 625,004,011, 88.54% of the voting capital was instructed.
Changes to Directors
As set out in the Company's 2018 Annual Report, Stephen Coe stepped down as a Director of the Company with effect from today. Michael Hough who was reappointed at today's AGM will now become chairman of the Audit Committee.
Results of the Tender Offer and change to conversion factor
Raven can confirm that a total of 287,776,478 Ordinary Shares have been tendered in connection with the Tender Offer. Tenders for up to and including the Tender Offer Entitlement of 2 Ordinary Share for every 51 Ordinary Shares at 45 pence per share will be met in full. Tenders received for surplus Ordinary Shares will be met at the rate of 0.011873681 Ordinary Shares for each surplus Ordinary Share tendered over and above the tender offer entitlement of 2 for 51, rounded down to the nearest whole Ordinary Share.
The 24,509,961 Ordinary Shares purchased by the Company pursuant to the Tender Offer will be cancelled and this will result in a payment of approximately GBP11 million by the Company. Payment will be made to shareholders by 12 June 2019.
Following the Tender Offer and in accordance with the Articles the conversion factor of the Convertible Preference Shares (ISIN: GG00BYVFCC74) has been adjusted to 1.553.
In accordance with Listing Rule 9.6.2R, copies of resolutions 14 to 19 passed at today's Annual General Meeting and copies of the resolutions passed at today's class meetings will be submitted to the National Storage Mechanism and will shortly be available for viewing online at: http://www.morningstar.co.uk/uk/nsm.
Enquiries
Raven Property Group Limited Tel: + 44 (0) 1481 712955 Anton Bilton Glyn Hirsch Novella Communications Tel: +44 (0) 203 151 7008 Tim Robertson Fergus Young N+1 Singer Tel: +44 (0) 20 7496 3000 Corporate Finance - James Maxwell / James Moat Sales - Alan Geeves / James Waterlow Numis Securities Limited Tel: + 44 (0) 207 260 1000 Alex Ham / Jamie Loughborough / Alasdair Abram Renaissance Capital (South Africa) Tel: +27 (11) 750 1448 Yvette Labuschagne Renaissance Capital (Moscow) Tel: + 7 495 258 7770 David Pipia Ravenscroft Tel: + 44 (0) 1481 729100 Jade Cook
About Raven Property Group
Raven Property Group Limited was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares and preference shares are listed on the Main Market of the London Stock Exchange and admitted to the Official List of the UK Listing Authority and the Official List of The International Stock Exchange ("TISE"). Its Ordinary Shares also have a secondary listing on the main board of the Johannesburg Stock Exchange and the Moscow Stock Exchange. Its convertible preference shares are admitted to the Official List of TISE and to trading on the SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow and Cyprus and has an investment portfolio of circa 1.9 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novgorod and 49,000 square metres of commercial office space in St Petersburg. For further information visit the Company's website: www.theravenpropertygroup.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
RAGUAAORKBAVOAR
(END) Dow Jones Newswires
May 31, 2019 10:00 ET (14:00 GMT)
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