Raven Property Group Limited Tender Offer and Notice of GM (5308Y)

TIDMRAV

RNS Number : 5308Y

Raven Property Group Limited

09 September 2020

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 September 2020

Raven Property Group Limited

("Raven" or the "Company")

Proposed Purchase of 1 in every 16 Ordinary Shares of 1p each in the Company ("Ordinary Shares") at 36p per share by way of a tender offer (the "Tender Offer")

Notice of General Meeting

Raven is today publishing a circular to its shareholders containing full details of the Tender Offer and a notice of General Meeting convened for 10.30 a.m. on Tuesday 29 September 2020.

On 1 September 2020, the Board announced in its Interim Results for the six months ended 30 June 2020, that the Company intended to offer to purchase 1 in every 16 Ordinary Shares by way of a tender offer at a price of 36p per share.

If the maximum number of 30,609,126 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 GBP11 million being paid by the Company to its shareholders. It is intended that up to 6,000,000 Ordinary Shares purchased under the Tender Offer will be held as treasury shares, and thereafter, the remainder 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. on Monday 28 September 2020, who may participate by tendering up to their pro rata entitlement of their holding of Ordinary Shares at 36p per share. Holders of Convertible Preference Shares who wish to participate in the Tender Offer will be required to convert their shares by Wednesday 23 September 2020 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.

A copy of the circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism In addition, the document 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                Tel: + 44 (0) 1481 712955 
  Anton Bilton 
  Glyn Hirsch 
 Novella Communications (public relations    Tel: [phone] 
  adviser) 
  Tim Robertson 
  Fergus Young 
 N+1 Singer (UK joint broker)                Tel: [phone] 
  Corporate Finance - James Maxwell 
  / James Moat 
  Sales - Alan Geeves / James Waterlow 
 Numis Securities Limited (UK joint         Tel: + 44 (0) 207 260 1000 
  broker) 
  Alex Ham / Jamie Loughborough / 
  Alasdair Abram 
  Nathan Brown / George Shiel 
 Renaissance Capital (South African             Tel: [phone] 
  broker) 
  Yvette Labuschagne 
 Renaissance Capital (Russian broker)            Tel: + 7 495 258 7770 
  David Pipia 
 Ravenscroft (TISE sponsor)                  Tel: + 44 (0) 1481 729100 
  Emma Ozanne 
 

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

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September 09, 2020 12:00 ET (16:00 GMT)