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RAVEN PROPERTY GROUP LIMITED - Result of General Meeting and Tender Offer

Release Date: 08/11/2019 17:30
Code(s): RAV     PDF:  
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Result of General Meeting and Tender Offer

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

                                   Result of General Meeting and Tender Offer

Raven announces that, at the General Meeting of the Company held at 10:30 a.m. today, the special
resolution put to ordinary shareholders was duly passed.

Defined terms used in this announcement shall have the same meaning as set out in the Tender Offer
circular to shareholders dated 9 October 2019.

A summary of the votes lodged by proxy is as follows:

        For (see note 1)                        Against (see note 1)                  Number       of         Total      Votes
No. of votes     %                         No. of votes    %                          votes withheld          Cast
                                                                                      (see note 2)
367,293,011          98.27                 6,470,279             1.73                 14,568                  373,763,290

1. "Votes For" includes those giving the Chairman discretion and votes "For" and "Against" are expressed as a percentage of votes
2. A "Vote Withheld" is not a vote in law and is not counted in the calculation of the votes "For" and "Against" a resolution.
3. Total number of Ordinary Shares in issue at 10:30 a.m. on 7 November 2019 was 511,349,072 Ordinary Shares. 73.09% of
voting capital was instructed.

Raven can confirm that a total of 437,504,283 Ordinary Shares have been tendered in connection with
the Tender Offer. Tenders for up to and including the Tender Offer Entitlement of 1 Ordinary Share for
every 44 Ordinary Shares at 55 pence per share will be met in full. Tenders received for surplus Ordinary
Shares will be met at the rate of 0.0016754201 Ordinary Shares for each surplus Ordinary Share
tendered over and above the tender offer entitlement of 1 for 44, rounded down to the nearest whole
Ordinary Share.

The 11,621,481 Ordinary Shares purchased by the Company pursuant to the Tender Offer will be
cancelled and this will result in a payment of approximately £6.4 million by the Company. Cheques will be
dispatched for certificated Ordinary Shares and payment will be made through CREST for uncertificated
Ordinary Shares by 15 November 2019.

A copy of the resolution passed at today's General Meeting is available at the National Storage
Mechanism and is available for viewing online at:

Following the Tender Offer and in accordance with the Articles the conversion factor of the Convertible
Preference Shares (ISIN: GG00BYVFCC74) has been adjusted to 1.517.

8 November 2019
JSE Sponsor: Rencap Securities (Pty) Limited


 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

 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:

Date: 08/11/2019 05:30:00
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