RAVEN PROPERTY GROUP LIMITED - Update on conditional purchase of its own ordinary shares

Update on conditional purchase of its own ordinary 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”)

                     Update on conditional purchase of its own ordinary shares

On 1 July 2019, the Board of Raven announced that the Company had entered into conditional
agreements to purchase off-market up to 106,230,374 of its ordinary shares from two of its institutional
shareholders at a price of 36 pence in cash per ordinary share. The first agreement provided for the
purchase of 72,144,978 ordinary shares from Woodford Investment Management Limited (“WIM”) (acting
on behalf of certain underlying funds) and the second agreement comprised the purchase of a minimum
of 17,000,000 ordinary shares and not more than 34,08,396 ordinary shares from Invesco Asset
Management Limited (“IAML”) (acting as an agent for its underlying funds).

The Company can now confirm that, in accordance with the terms of the agreement with IAML, the
number of ordinary shares to be purchased from IAML has been fixed at the minimum amount, being
17,000,000 ordinary shares. As a result, the Company will be seeking authority from its ordinary
shareholders, preference shareholders and convertible preference shares to purchase 89,144,978 of its
ordinary shares, representing 14.8% of the Company’s current issued ordinary share capital.

The Company intends to cancel all of the ordinary shares acquired on completion of the transactions.

A further announcement will be made upon posting of the circulars (including notices of the meetings) to
ordinary shareholders, preference shareholders and convertible shareholders.

24 July 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
 Jade Cook


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: 24/07/2019 08:00:00
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