RAVEN PROPERTY GROUP LIMITED - Restatement of Headline earnings per share for the six months ended 30 June 2019

Restatement of Headline earnings per share for the six months ended 30 June 2019

Raven Property Group Limited
Incorporated in Guernsey
Company number 43371
LSE share code: RAV; JSE share code: RAV
ISIN:GB00B0D5V538
(“Raven” or the “Company”)


Restatement of Headline earnings per share for the six months ended 30 June 2019

Shareholders are referred to the 2020 Interim Results announcement released on the Stock Exchange News
Service on 1 September 2020 and are advised that the calculation of Headline earnings, and the resulting
Headline basic earnings per share and Headline diluted earnings per share, for the six months ended 30 June
2019 was incorrectly calculated in the Company’s 2019 Interim Results. This has been corrected and restated
in the Company’s 2020 Interim Results.

Below is an extract of the table that changed as a result of this correction:

                                                                                          Six           Six
                                                                                        months       months
                                                                                       ended 30     ended 30
                                                                                         June          June
                                                                                         2019          2018
 Calculation of Headline earnings                                                        £’000        £’000
 Net profit / (loss) for the period prepared under IFRS                                   26,215      (28,836)
 Adjustments to arrive at Headline earnings:
 Unrealised (profit) / loss on revaluation of investment property                       (18,073)      26,537
 Unrealised profit on revaluation of investment property under construction                  (92)       (459)
 Movement on deferred tax arising on revaluation of investment property                      198      (2,739)
 Headline earnings                                                                         8,248      (5,497)


                                                      30 June 2019                         30 June 2018
                                                         Weighted                             Weighted
                                                          average                              average
                                               Earnings   shares    EPS            Earnings    shares    EPS
 Headline earnings                              £’000     No. ‘000 Pence            £’000      No. ‘000 Pence
 Basic                                            8,248    610,057   1.35            (5,497)    653,093  (0.84)
 Effect of dilutive potential ordinary
 shares:
 Warrants (note 14)                                    -          603                      -          -
 LTIP (note 17)                                        -          197                      -          -
 2016 Retention Scheme (note 17)                       -        2,047                      -          -
 Diluted                                           8,248      612,904       1.35     (5,497)    653,093     (0.84)



10 September 2020
JSE Sponsor: Rencap Securities (Pty) Limited

Date: 10-09-2020 05:30:00
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