Wrap Text
Proposed Purchase of 1 in every 16 Ordinary Shares of 1p each in the Company
Raven Property Group Limited
Incorporated in Guernsey
Company number 43371
LSE share code: RAV; JSE share code: RAV
ISIN:GB00B0D5V538
(“Raven” or the “Company”)
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
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 £11 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.
The expected timetable of events for SA Shareholders is set out below:
2020
Announcement on SENS of the posting of the Wednesday 9 September
Circular incorporating a Notice of General
Meeting and the Tender Forms to
shareholders on or about
Tender Offer open at 9.00 am Wednesday 9 September
Announcement of the Rand-equivalent Monday, 21 September
Tender Price on SENS
Last day to trade in order to be eligible to vote Monday, 21 September
at the General Meeting
Last day to trade on the JSE in order to Monday, 21 September
participate in the Tender Offer
Shares trade “ex” the Tender Offer Tuesday, 22 September
No removal requests permitted between the Tuesday, 22 September –
UK Register and the SA Branch Register
Tuesday, 29 September
(both dates inclusive)
Record Date in order to be eligible to vote at Friday, 25 September
the General Meeting
Record Date and closing the Tender Offer 8:00 p.m. on
Friday, 25 September
Latest time and date for receipt of forms of 11.30 a.m. on
proxy for the General Meeting
Friday, 25 September
Latest time and date for receipt of Tender 12.00 noon on
Forms and instructions from dematerialised
Monday, 28 September
SA Shareholders
11:30 a.m. on
General Meeting Tuesday, 29 September
Results of General Meeting and outcome of By 9:00 a.m. on
Tender Offer announced Thursday, 1 October
Accounts credited for Ordinary Shares Friday, 9 October
purchased pursuant to Tender Offer by
Accounts of dematerialised SA Shareholders Friday, 9 October
credited for revised holdings of Ordinary
Shares by
Despatched of balance share certificates for Friday, 9 October
unsold Ordinary Shares by
Cancellation and termination of SA listing of Friday, 9 October
Ordinary Shares repurchased in terms of the
Tender Offer expected on or about
If any of the above times and/or dates change, the revised times and/or dates will be notified
to SA Shareholders by an announcement via SENS. All references in this document to
specific times are to SAST unless otherwise stated.
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.
9 September 2020
JSE Sponsor: Rencap Securities (Pty) Limited
Enquiries
Raven Property Group Limited Tel: + 44 (0) 1481 712955
Anton Bilton
Glyn Hirsch
Novella Communications (public relations adviser) Tel: +44 (0) 203 151 7008
Tim Robertson
Fergus Young
N+1 Singer (UK joint broker) Tel: +44 (0) 20 7496 3000
Corporate Finance - James Maxwell / James Moat
Sales - Alan Geeves / James Waterlow
Numis Securities Limited (UK joint broker) Tel: + 44 (0) 207 260 1000
Alex Ham / Jamie Loughborough / Alasdair Abram
Nathan Brown / George Shiel
Renaissance Capital (South African broker) Tel: +27 (11) 750 1448
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
Date: 10-09-2020 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
