Raven Property Group (Рeйвен Проперти Груп)
Result of General Meeting and Tender Offer
8 November 2019
Raven Property Group Limited (“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)
Number of votes 367,293,011
Against (see note 1)
Number of votes 6,470,279
withheld (see note 2)
Number of votes 14,568
Total Votes Cast 373,763,290
1. "Votes For" includes those giving the Chairman discretion and votes "For" and "Against" are expressed as a percentage of votes received.
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: http://www.morningstar.co.uk/uk/NSM
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.
Raven Property Group Limited
Tel: + 44 (0) 1481 712955
Novella Communications (public relations adviser)
Tel: +44 (0) 203 151 7008
N+1 Singer (UK joint broker)
Corporate Finance - James Maxwell / James Moat
Sales - Alan Geeves / James Waterlow
Tel: +44 (0) 20 7496 3000
Numis Securities Limited (UK joint broker)
Alex Ham / Jamie Loughborough / Alasdair Abram
Tel: + 44 (0) 207 260 1000
Renaissance Capital (South African broker)
Tel: +27 (11) 750 1448
Renaissance Capital (Russian broker)
Tel: + 7 495 258 7770
Ravenscroft (TISE sponsor)
Tel: + 44 (0) 1481 729100
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
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