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Property valuation update
Raven Property Group Limited
Incorporated in Guernsey
Company number 43371
LSE share code: RAV; JSE share code: RAV
ISIN:GB00B0D5V538
(“Raven” or the “Company”)
Property valuation update
The Company has undertaken a valuation of its property portfolio as at 31 May 2019, as part of the
process to prepare the circular to ordinary shareholders regarding the purchase of ordinary shares from
two of its institutional shareholders, which was announced on 1 July 2019. The valuation was prepared by
Jones Lang LaSalle and undertaken in accordance with the appropriate sections of the current Practice
Statements contained in the Royal Institution of Chartered Surveyors Valuation – Global Standards, 2017
(the “Red Book”).
As the Company announced on 1 July 2019 the Russian economy and its logistics real estate market
continue to improve, market rental levels are increasing and vacancy is decreasing. Accordingly, the
Company can report an increase in the Rouble valuation of its portfolio of 1.1% to Roubles 109.5 billion,
equating to a revaluation gain of £14.4 million at the Rouble sterling exchange rate of 82.2 on 31 May
2019. This represents an increase, before any associated tax and the impact of the strengthening of the
Rouble, in net asset value per share of 2.4p for ordinary shares in issue today.
Further, and as explained in the Company’s announcement on 1 July 2019, the weak Rouble at 31
December 2018 had a detrimental impact on the value of the Group’s property portfolio when translated
into Sterling at an exchange rate of 88.35. Since then, the Rouble has since returned to its three year
average of 80 Roubles to a pound, which will have a further beneficial impact on the property valuations
when translated into Sterling.
The information contained within this announcement relating to a valuation of the Company’s property
portfolio 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.
30 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: 30/07/2019 08:00:00
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