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25 May 2021 15:00
25 May 2021
Raven Property Group Limited
("Raven" or the "Company")
Transfers for the 2019 and 2020 Annual Performance Incentive, transfer of shares into treasury (LR 12.6.4) and cancelation of ordinary shares
Pursuant to the Disclosure Guidance and Transparency Rule 3.1.2-A, the following information falls to be disclosed:
The Company has settled the 2019 Annual Performance Incentive ("2019 API") by transferring the following ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") to certain directors as set out in the table below. The Company was also notified by the trustees of the Raven Russia Employee Benefit Trust No 2 ("the Trustees"), that they have transferred Cumulative Redeemable Preference Shares of 1p each in the capital of the Company ("Preference Shares") to certain directors of the Company in satisfaction of the 2020 Annual Performance Incentive ("2020 API"). Details of the 2019 API and 2020 API can be found in the Company's 2020 Annual Report.
Details of the transfers and the Directors' interests in Ordinary Shares and Preference Shares are set out in the table below:
Ordinary Shares | Total interest in Ordinary Shares | Percent of Ordinary Shares in issue | Preference Shares | Total interest in Preference Shares | Percentage of Preference Shares in issue | |
Anton Bilton(1,2) | 2,558,664 | 6,757,842 | 1.17 | 0 | 11,162,188 | 5.16 |
Glyn Hirsch(1,2) | 2,558,664 | 2,950,156 | 0.51 | 0 | 4,179,830 | 1.93 |
Mark Sinclair(1,2) | 1,293,026 | 1,804,665 | 0.31 | 206,008 | 1,662,313 | 0.77 |
Colin Smith(1,2) | 1,145,102 | 1,365,613 | 0.24 | 206,008 | 1,185,206 | 0.55 |
(1) includes Ordinary Shares and Preference Shares held by trusts where the individual or close family members are beneficiaries
(2) does not include the interests of Ordinary and Preference shares held through Raven Holdings Limited as set out in the Company's announcement dated 11 May 2021 with RNS reference 2270Y and repeated below
Each of the Executive Directors has an interest in Raven Holdings Limited as disclosed in the table below:
Interest in Raven Holdings Limited | |
Anton Bilton | 34.30% |
Glyn Hirsch | 7.25% |
Mark Sinclair | 2.48% |
Colin Smith | 0.94% |
Raven Holdings Limited holds 153,030,301 Ordinary Shares (26.42%) and 32,500,000 Preference Shares (15.02%).
Pursuant to Listing Rule 12.6.4, Raven announces the Ordinary Shares used for the 2019 API awards settled above were purchased from its wholly owned subsidiary, RPG Holdings Limited. The Company has at the same time cancelled 2,212,974 Ordinary Shares which were held as treasury shares.
Date of transfer | Number of Ordinary Shares transferred into treasury
| Number of Ordinary Shares transferred out of treasury for settlement of 2019 API | Transfer price | Number of Ordinary Shares held in treasury following the transfer in and settlement of 2019 API and cancelation | Total number of Ordinary Shares in issue less the total number of Ordinary Shares held in treasury following the transfers and cancelation |
24 May 2021 | 7,701,961 | 11,488,987 | 29.3p (being the closing price on 18.05.2021) | - | 579,290,442 |
Enquiries
Raven Property Group Limited Anton Bilton Glyn Hirsch
| Tel: + 44 (0) 1481 712955 |
Novella Communications (public relations adviser) Tim Robertson Fergus Young
| Tel: +44 (0) 203 151 7008 |
N+1 Singer (UK joint broker) Corporate Finance - James Maxwell / Alex Bond Sales - Alan Geeves / James Waterlow
| Tel: +44 (0) 20 7496 3000 |
Numis Securities Limited (UK joint broker) Alex Ham / Jamie Loughborough Nathan Brown / George Shiel
| Tel: + 44 (0) 207 260 1000 |
Java Capital (South African Sponsor) Jean Tyndale-Biscoe / Andrew Brooking
| Tel: +27 (11) 722 3050 |
Renaissance Capital (South African broker) Yvette Labuschagne
| Tel: +27 (11) 750 1448 |
Renaissance Capital (Russian broker) David Pipia
| Tel: + 7 495 258 7770 |
Ravenscroft (TISE sponsor) Semelia Hamon
| Tel: + 44 (0) 1481 732746 |
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. 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
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Praxis Trustees Limited and Truchot Trustees Limited | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PCA of Anton Bilton, a PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Raven Property Group Limited | ||||
b)
| LEI
| 213800YJ5HI5CBXCYJ65 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 1p each
GB00B0D5V538
| ||||
b)
| Nature of the transaction
| Award of 2019 API | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 24/05/2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Glyn Hirsch | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/ PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Raven Property Group Limited | ||||
b)
| LEI
| 213800YJ5HI5CBXCYJ65 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 1p each
GB00B0D5V538
| ||||
b)
| Nature of the transaction
| Award of 2019 API | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 24/05/2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Mark Sinclair | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/ PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Raven Property Group Limited | ||||
b)
| LEI
| 213800YJ5HI5CBXCYJ65 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 1p each
GB00B0D5V538
| ||||
b)
| Nature of the transaction
| Award of 2019 API | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 24/05/2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Colin Smith | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/ PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Raven Property Group Limited | ||||
b)
| LEI
| 213800YJ5HI5CBXCYJ65 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Ordinary shares of 1p each
GB00B0D5V538
| ||||
b)
| Nature of the transaction
| Award of 2019 API | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 24/05/2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Colin Smith | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/ PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Raven Property Group Limited | ||||
b)
| LEI
| 213800YJ5HI5CBXCYJ65 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Cumulative Redeemable Preference Shares of 1p each
GG00B55K7B92 | ||||
b)
| Nature of the transaction
| Award of 2020 API | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 24/05/2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Mark Sinclair | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Director/ PDMR | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| Raven Property Group Limited | ||||
b)
| LEI
| 213800YJ5HI5CBXCYJ65 | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| |||||
a)
| Description of the financial instrument, type of instrument
Identification code
|
Cumulative Redeemable Preference Shares of 1p each
GG00B55K7B92 | ||||
b)
| Nature of the transaction
| Award of 2020 API | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
Not applicable
| ||||
e)
| Date of the transaction
| 24/05/2021 | ||||
f)
| Place of the transaction
| Outside of trading venue | ||||
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