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8 Apr 2013 16:47
8 April 2013
Raven Russia Limited ("Raven Russia" or the "Company")
Directors Dealing
The Company announces today that the first tranche of contingent awards under the Combined Bonus and Long Term Incentive Scheme 2012 to 2014 ("the Scheme") have vested. Details of the Scheme were set out in the 2011 Remuneration Report which was approved at the AGM on 30 May 2012. The Company has notified the trustees of the Employee Benefit Trust (the "EBT") that operates the Scheme and has requested that they arrange for the following transfers from shares held by the EBT and allocated to the Scheme, in accordance with the Scheme rules:
Director | Preference shares awarded* | Interest in preference shares | Percentage of issued preference shares |
Anton Bilton** | 610,455 | 28,235,851 | 14.5241% |
Glyn Hirsch | 610,455 | 4,173,033 | 2.1465% |
Mark Sinclair | 519,410 | 678,022 | 0.3488% |
Colin Smith | 344,149 | 434,921 | 0.2237% |
* The scheme allows for rewards to be made in any of the Company's capital instruments and the award of preference shares above equates to the value of ordinary shares specified in the Remuneration Report of the financial statements for the year ended 31 December 2012
** The contingent award in respect of Anton Bilton was granted to a discretionary trust of which Anton Bilton is the principal beneficiary.
The Company has been notified today that on 8 April 2013 Glyn Hirsch, Mark Sinclair and Colin Smith have sold ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at a price of 70p per Ordinary Share, to meet tax liabilities that fall due as a result of bonus scheme awards and other incentive scheme vesting. Details of the Ordinary Shares sold and their interests in Ordinary Shares following the disposals are set out below:
Director | Ordinary Shares sold | Interest in Ordinary Shares | Percentage of issued Ordinary Shares |
Glyn Hirsch | 300,000 | 3,207,209 | 0.5438% |
Mark Sinclair | 300,000 | 2,117,348 | 0.3590% |
Colin Smith | 185,000 | 324,094 | 0.0550% |
Enquiries
Raven Russia Limited Tel: + 44 (0) 1481 712955
Anton Bilton
Glyn Hirsch
Cardew Group Tel: + 44 (0) 207 930 0777
Alexandra Stoneham
James Clark
N+1 Singer Tel: +44 (0) 20 7496 3000
Corporate Finance- James Maxwell
Sales - Alan Geeves / James Waterlow
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 with a market capitalisation of approximately £400 million. The company operates out of offices in Guernsey, Moscow and Cyprus and has to date completed a portfolio of circa 1.3 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
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