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Conditional purchase of its own preference shares and convertible preference shares
Raven Property Group Limited
Incorporated in Guernsey
Company number 43371
LSE share code: RAV; JSE share code: RAV
ISIN:GB00B0D5V538
(“Raven” or the “Company”)
Conditional purchase of its own preference shares and convertible preference shares
The Board of Raven refers to the announcement it made yesterday morning and can now confirm that it
has entered into conditional agreements to purchase off-market 41,803,518 of its preference shares and
42,118,860 of its convertible preference shares from Invesco Asset Management Limited (acting as agent
for its underlying funds) (“IAML”). The purchase prices for the shares to be acquired by the Company are
115 pence per preference share and 92.5 pence per convertible preference share payable in cash.
The shares proposed to be acquired represent all of the preference shares and convertible preference
shares in the Company held by funds managed by IAML. The proposed purchase of these shares will be
a related party transaction under the FCA’s Listing Rules as IAML and its underlying funds are together a
substantial shareholder of the Company for the purposes of the Listing Rules.
The Company is progressing negotiations regarding the financing required to purchase the shares and
will provide an update in due course.
The purchase will be conditional, inter alia, on ordinary shareholders and convertible preference
shareholders passing the resolutions necessary to authorise the transaction and on the purchase by the
Company of ordinary shares from IAML, as announced by the Company on 2 December 2019, having
completed.
The Company intends to post circulars (including notices of meetings) to ordinary shareholders and
convertible preference shareholders in respect of the transactions outlined above in January 2020 and a
further announcement will be made at such time.
The Company will make a decision about holding the preference shares and convertible preference
shares purchased in treasury or cancelling them in due course.
The information contained within this announcement relating to the purchase by the Company of its own
shares is considered by Raven Property Group Limited to constitute inside information as stipulated
under the Market Abuse Regulation (EU) No.596/2014. Upon the publication of this announcement via a
Regulatory Information Service, this inside information will be considered to be in the public domain.
The person responsible for arranging for the release of this announcement on behalf of the Company is
Benn Garnham, Company Secretary.
12 December 2019
JSE Sponsor: Rencap Securities (Pty) Limited
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
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
Date: 12-12-2019 02:02:00
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