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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 |
TIDMRAV
RNS Number : 3295P
Raven Property Group Limited
09 October 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
9 October 2019
Raven Property Group Limited
("Raven" or the "Company")
Proposed Purchase of 1 in every 44 Ordinary Shares of 1p each in the Company ("Ordinary Shares") at 55p per share by way of a tender offer (the "Tender Offer")
Notice of General Meeting
Raven is today posting a circular to its shareholders containing full details of the Tender Offer and a notice of General Meeting convened for 10.30 a.m. Greenwich Mean Time ("GMT") on Friday 8 November 2019.
On 27 August 2019, the Board of Raven announced in its Interim Results for the six months ended 30 June 2019, that the Company intended to offer to purchase 1 in every 44 Ordinary Shares by way of a tender offer at a price of 55p per share. The Tender Offer will also present tendering shareholders with an opportunity to sell more than their pro rata entitlement (up to their entire holding of Ordinary Shares) to the extent that other shareholders tender less than their pro rata entitlement. In such case, surplus tenders will be accepted in proportion to the number of additional Ordinary Shares tendered so that the total number of Ordinary Shares purchased does not exceed 11,621,569 (assuming no valid conversion of the Company's Convertible Preference Shares in the period).
If the maximum number of 11,621,569 Ordinary Shares is acquired (assuming no valid conversion of the Company's Convertible Preference Shares in the period), this will result in an amount of approximately GBP6.4 million being paid by the Company to its shareholders. It is intended that the Ordinary Shares purchased under the Tender Offer will be cancelled and not available for re-issue.
The Tender Offer is open to all holders of Ordinary Shares on the Company's register at 6.00 p.m. GMT on Thursday 7 November 2019, who may participate by tendering all or a proportion of their holding of Ordinary Shares at 55p per share. Holders of Convertible Preference Shares who wish to participate in the Tender Offer will be required to convert their shares by Friday 1 November 2019 in accordance with the terms of the Company's Articles. No Ordinary Shares will be purchased in relation to the Tender Offer unless the relevant resolution to be proposed at the General Meeting is passed.
Shareholders on the Company's South African register should refer to the separate Letter to South African Shareholders for details of the action to be taken in relation to the Tender Offer and the General Meeting.
Copies of the circular, tender offer forms and form of proxy will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. In addition, the documents will be available on the Company's website (www.theravenpropertygroup.com/investors) and may also be obtained from the Company Secretary.
Enquiries
Raven Property Group Limited Anton Bilton Glyn Hirsch Tel: +44 (0) 1481 712955 Novella Communications (public relations adviser) Tim Robertson +44 (0) 203 151 Toby Andrews Tel: 7008 N+1 Singer (UK joint broker) Corporate Finance - James Maxwell / James Moat +44 (0) 20 7496 Sales - Alan Geeves / James Waterlow Tel: 3000 Numis Securities (UK joint broker) Alex Ham / Jamie Loughborough / +44 (0) 207 260 Alasdair Abram Tel: 1000 Renaissance Capital (South African broker) Yvette Labuschagne Tel: +27 (11) 750 1448 Renaissance Capital (Russian broker) David Pipia Tel: +7 495 258 7770 Ravenscroft (TISE sponsor) Jade Cook Tel: +44 (0) 1481 729100
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.
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October 09, 2019 10:00 ET (14:00 GMT)
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