20 Aug 2019 15:00
20 August 2019
Raven Property Group Limited ("Raven" or the "Company")
Result of General Meeting and Class Meetings
Raven is pleased to announce that at the General Meeting of the Company and Class Meetings of Preference Shareholders and Convertible Preference Shareholders held earlier today, all the resolutions put to Ordinary Shareholders, Preference Shareholders and Convertible Preference Shareholders were duly passed.
Following the approvals at the General and Class Meetings described above, the conditions necessary for each of the buybacks to complete have been satisfied and completion will occur on 21 August 2019. All 89,144,978 Ordinary Shares purchased by the Company pursuant to the buybacks will be cancelled.
The General Meeting poll results are set out below:
Resolution | For (see note 1) | Against (see note 1) | Number of votes withheld (see note 2) | Total votes cast | |||
Number of votes | % | Number of votes | % | ||||
1* | That the Woodford buy back be approved | 514,287,122 | 97.94% | 10,842,800 | 2.06% | 3,252 | 525,129,922 |
2* | That the Invesco buy back be approved | 514,287,202 | 97.94% | 10,842,720 | 2.06% | 3,252 | 525,129,922 |
3 | That the Woodford related party transaction be approved | 442,142,144 | 97.61% | 10,842,800 | 2.39% | 3,252 | 452,984,944 |
4 | That the Invesco related party transaction be approved | 328,052,709 | 96.80% | 10,842,720 | 3.20% | 3,252 | 338,895,429 |
*Special Resolution
WIM and the Woodford Funds, who are interested in 72,144,978 Ordinary Shares representing approximately 12 per cent. of the Ordinary Share Capital, were not eligible to vote on Resolution 3 (the Woodford RPT Resolution) at the General Meeting.
IAM and the Invesco Funds, who are interested in 186,234,493 Ordinary Shares representing approximately 31 per cent. of the Ordinary Share Capital, were not eligible to vote on Resolution 4 (the Invesco RPT Resolution) at the General Meeting.
The Preference Share Class Meeting poll results are set out below:
Resolution | For (see note 1) | Against (see note 1) | Number of votes withheld (see note 2) | Total votes cast | |||
Number of votes | % | Number of votes | % | ||||
1* | To approve the distributions arising as a result of the Woodford Buyback Agreement and the Invesco Buyback Agreement | 62,656,992 | 91.70% | 5,669,262 | 8.30% | 28,301 | 68,326,254 |
*Special Resolution
The Convertible Preference Share Class Meeting poll results are set out below:
Resolution | For (see note 1) | Against (see note 1) | Number of votes withheld (see note 2) | Total votes cast | |||
Number of votes | % | Number of votes | % | ||||
1* | To approve the distributions arising as a result of the Woodford Buyback Agreement and the Invesco Buyback Agreement | 167,825,124 | 99.73% | 450,000 | 0.27% | 0 | 168,275,124 |
*Special Resolution
Notes:
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 10.00a.m. on 16 August 2019 was 600,494,050 Ordinary Shares. 87.45% of voting capital was instructed.
4 Total number of Preference Shares in issue at 10.30a.m. on 16 August 2019 was 99,853,303 Preference Shares. 68.43% of voting capital was instructed.
5 Total number of convertible preference shares in issue at 10.45a.m. on 16 August 2019 was 198,189,014 Convertible Preference Shares. 84.91% of voting capital was instructed.
Copies of the resolutions concerning special business and passed at today's General Meeting and Class Meetings are available at the National Storage Mechanism and are available for viewing online at:www.morningstar.co.uk/uk/NSM.
Defined terms used in this announcement shall have the same meaning as set out in the Circular to Ordinary Shareholders dated 31 July 2019.
Enquiries
Raven Property Group Limited Anton Bilton Glyn Hirsch
| Tel: + 44 (0) 1481 712955 |
Novella Communications Tim Robertson Fergus Young
| Tel: +44 (0) 203 151 7008 |
N+1 Singer Corporate Finance - James Maxwell / James Moat Sales - Alan Geeves / James Waterlow
| Tel: +44 (0) 20 7496 3000 |
Numis Securities Limited Alex Ham / Jamie Loughborough / Alasdair Abram
| Tel: + 44 (0) 207 260 1000 |
Renaissance Capital (South Africa) Yvette Labuschagne
| Tel: +27 (11) 750 1448 |
Renaissance Capital (Moscow) David Pipia
| Tel: + 7 495 258 7770 |
Ravenscroft Jade Cook
| 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