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30 Mar 2022 07:00
30 March 2022
Raven Property Group Limited
(the "Company")
Preference Shares dividend
Further to the Company's announcement on 17 March 2022, the economic uncertainty surrounding its business in Russia caused by current sanctions and counter sanctions continues to severely limit the Company's ability to access funds from its Russian subsidiaries and to convert roubles into alternative currencies, even at punitive exchange rates. In the same announcement the Company indicated that it was unlikely that the Company would pay the preference share dividend for the quarter ended 31 March 2022.
In light of the continuing uncertainty and in order to conserve liquidity, the Board has therefore resolved that payment of the preference share dividend for the period from 31 December 2021 up to, but excluding, 31 March 2022 will not be made and this will accumulate in accordance with the terms of the instrument.
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 |
Singer Capital Markets (UK broker) Investment Banking - James Maxwell / Alex Bond Markets - Alan Geeves / James Waterlow
| Tel: +44 (0) 207 496 3000 |
Java Capital (South African Sponsor) Jean Tyndale-Biscoe / Andrew Brooking
| Tel: +27 (11) 722 3050 |
Renaissance Capital (Russian broker) David Pipia
| Tel: + 7 495 258 7770 |
Ravenscroft Consultancy & Listing Services Limited (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
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