Source - RNS
RNS Number : 5962J
Raven Russia Limited
12 September 2016
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

12 September 2016

 

Raven Russia Limited ("Raven Russia" or the "Company")

 

Proposed Purchase of 1 in every 80 Ordinary Shares of 1p each in the Company ("Ordinary Shares") at 40p per share by way of a tender offer ("the Tender Offer")

 

Interim Results for the six months ended 30 June 2016

 

Notice of General Meeting

 

Raven Russia is today posting a circular to its shareholders containing full details of the Tender Offer and a notice of General Meeting convened for 12.00 noon on Friday 14 October 2016 together with the Interim Results for the six months ended 30 June 2016.

 

On 30 August 2016, the Board of Raven Russia announced in its Interim Results for the six months ended 30 June 2016, that the Company intended to offer to purchase 1 in every 80 Ordinary Shares by way of a tender offer at a price of 40p per share. If the maximum number of 8,404,204 Ordinary Shares is acquired (assuming no valid exercise or conversion of the Company's Warrants or Convertible Preference Shares respectively in the period), this will result in an amount of approximately £3.4 million being paid by the Company to its shareholders. It is intended that the Ordinary Shares purchased under the Tender Offer will be cancelled and not available for re-issue.

 

The Tender Offer is open to all holders of Ordinary Shares on the Company's register at 6pm on Thursday 13 October 2016, who may participate by tendering all or a proportion of their holding of Ordinary Shares at 40p per share. Warrantholders who wish to participate in the Tender Offer will be required to exercise their warrants by 1pm on Friday 30 September 2016 in accordance with the terms of the Warrant Instrument. Holders of Convertible Preference Shares who wish to participate in the Tender Offer will be required to convert their shares by 1pm on Thursday 6 October 2016 in accordance with the terms of the Company's Articles. No Ordinary Shares will be purchased in relation to the Tender Offer unless the relevant resolution to be proposed at the General Meeting is passed.

 

Copies of the circular, tender offer forms, form of proxy and Interim Results will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM . In addition, the documents will be available on the Raven Russia website (www.ravenrussia.com) and may also be obtained from the Company Secretary.

 

 

 

Enquiries

 

 

Raven Russia Limited                                                                           Tel: + 44 (0) 1481 712955

Anton Bilton                                                                                       

Glyn Hirsch

 

Novella Communications                                                                      Tel: +44 (0) 203 151 7008

Tim Robertson

Toby Andrews

 

N+1 Singer                                                                                          Tel: +44 (0) 20 7496 3000  

Corporate Finance - James Maxwell / Liz Yong

Sales - Alan Geeves / James Waterlow

 

Barclays Bank Plc                                                                               Tel: +44 (0) 20 7623 2323

Tom Boardman / Tom Macdonald                                                         

 

Ravenscroft                                                                                         Tel: + 44 (0) 1481 729100         

David McGall

 

About Raven Russia

 

Raven Russia was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, Preference Shares and Warrants are listed on the Main Market of the London Stock Exchange and admitted to the official list of the Channel Islands Securities Exchange Authority Limited ("CISEA"). Its Convertible Preference Shares are admitted to the CISEA Official List and trading on the SETSqx market of the London Stock Exchange.  The Company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.5 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk. For further information visit the Company's website: www.ravenrussia.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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