Raven Russia Share Discussion Threads

[hectorp] 13/5/2011 13:01

I can't answer that one..

[hieronymous1] 12/5/2011 18:29

How does the dollar / sterling exchange rate affect the share price? Is there any hedging in place? I note a $1.95m foreign currency profit in the accounts but is this Roubles to dollars or what? There has been a rise in the dollar recently.

[hectorp] 12/5/2011 17:31

Hmm seems its a tad volatile.

[hectorp] 05/5/2011 10:48

Helpful, partridge.
- Chart shows that rising support here, I am adding again.

[partridge1948] 04/5/2011 17:32

Minority shareholder has agreed to match the RUS offer for Karta, yet to be finalised. If they do go ahead, Karta pays RUS $2.5M break fee, so a result either way. Also shows potential hidden value in rest of portfolio.

[hectorp] 03/5/2011 13:12

I don't know....
- however well worth holding, back in at 69p, remember this stock is ISA ble.
Moscow let voids only 3%. 2011 looks very promising... target maybe 100p or above.

[jbarcroftr] 08/4/2011 22:06

Is the Karta aquisition now unconditional?

[ygor705] 01/3/2011 07:52

They look to be making a strategic property acquisition in front of increased economic activity driven by the Russians having won World Cup rights. Looks good to me.

[jbarcroftr] 28/2/2011 15:46

Seems a great deal to me.The whole portfolio is on a very undemanding yield and oil troubles can only help the Russian economy

[praipus] 28/2/2011 15:31

Only recently noticed Laxey have a holding here. To take a peak at the rest of their known holdings see post 1 on the following thread

[energiser01] 28/2/2011 14:05

looks like a good deal for Raven if its get the ok.

ERV yield of 13.7%



RAVEN RUSSIA LIMITED (the "Company")



Acquisition



Raven Russia Limited has today signed a conditional Sale and Purchase Agreement to purchase Karta Realty Limited, the ultimate owner of the Southgate warehouse project in the Domodedovo district of Southern Moscow, close to the international airport.



The Southgate project comprises a completed Grade A warehouse complex of 76,550 square metres, currently 88% let to John Deere, and 88 hectares of permitted land capable of producing a further 440,000 square metres of completed logistics space once fully developed.



Karta Realty Limited is majority owned by two limited partnerships, one registered in Delaware and the other in England and Wales, managed by Cypress Grove International ("CGI"). CGI have been advised by Renaissance Capital.



The purchase price for the acquisition is $54.5 million, the gross value of property and land being $99.3million. Existing debt facilities of approximately $43.5 million with Unicredit will be acquired with the Group. The facilities are for a 5 year term from December 2006 with a margin of 650 basis points over US Libor. Terms to roll over the facility for a further 5 years have been agreed with Unicredit, reducing the margin to 430 basis points over US Libor on meeting letting criteria.



The purchase price implies an ERV yield of 13.7% on the completed property and a capital value of $840 per square metre. Net operating income on the let space generates $6.4 million per annum.



Consideration will be satisfied by the issue of up to 25.9 million ordinary shares in Raven Russia Limited (at the election of selling shareholders) and the balance in cash. The purchaser has agreed certain share sale restrictions.



The principal condition of the acquisition involves the right of a minority shareholder group to match any formal offer for Karta Realty Limited made by a third party. If this right to match is exercised within 30 business days after the signing of this Sale and Purchase Agreement then CGI will be obliged to sell Karta Realty Limited to the minority shareholder group.



Raven Russia limited will be announcing its results for the year to 31 December 2010 on 14 March 2011.



Glyn Hirsch Chief Executive Officer said



"This potential acquisition consolidates our position as the major owner and supplier of Grade A Logistics Warehouse space in Moscow. Coupled with our existing Moscow permitted land holdings we now have the ability to bring almost 500,000 square metres of completed space into the currently tightly supplied market".

[ygor705] 04/1/2011 14:01

On the way up again. Nothing new in the news background but looks good to me.

[mlangton1] 03/1/2011 18:04

one of the "tips of the year" in yesterdays Sunday Times

[loganair] 02/1/2011 20:25

I see back in the papers to day as a BUY as Raven are going to build 11 million square meters of warehousing in both St Petersburg and Moscow and at some point in the future the directors would like to sell-out by the whole company being taken-over.

[ygor705] 21/12/2010 16:51

Good turnaround today after a sticky start............encouraging.

[ygor705] 18/12/2010 12:34

Agree with you Topvest. The company has a lot of debt but has recently cut a deal to sell of a lump of the property portfolio at well above book value. The preference shares carry a good yield and I notice that one of the directors recently bought a decent chunk. The World Cup is a long way off but infrastructure is requied and the first thing that you need to do is to get your storage/prefabrication capability sorted out. We've held this one for quite a while in our investment club and I'm now in pa. Good two way bet for 2011.

[topvest] 16/12/2010 12:48

Bought a few of these, so I thought I would start a thread with the charts etc. Looks a well run company this. Russia is a country that is well positioned to grow going forwards given its very strong financial position compared with many other indebted countries. Any views?

[ygor705] 13/12/2010 10:04

Volume picking up...looks interesting.

[ygor705] 08/12/2010 14:44

The Russian stock market has been doing well since the Ruskies won the World Cup hosting rights and propery lettings/sales will probably also pick up on the back of it. The share price has been firm since the dividend by way of a limited right to sell shares back to the company at premium pricing was effectively turned down by shareholders at a price in the late 50s. Have bought some today as I think the shares are set for a rerating.

[don muang] 18/11/2010 08:30

Russian stocks, the cheapest worldwide, are getting cheaper after the nation's companies posted record profits that topped analysts' estimates by the widest margin in emerging markets.