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6 Jul 2016 15:00
6 July 2016
Raven Russia Limited ("Raven Russia" or the "Company")
Result of General Meeting and Class Meeting
Raven Russia is pleased to announce that at the General Meeting of the Company and Class Meeting of Preference Shareholders held earlier today, all the resolutions put to Ordinary Shareholders and Preference Shareholders were duly passed.
A summary of the votes lodged by proxy at the General Meeting is 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 Rule 9 Waiver be approved | 273,633,741 | 94.99 | 14,423,930 | 5.01 | 2,753,631 | 288,057,671 |
2 | That the proposed participation by Invesco Perpetual High Income Fund in the Placing be approved | 287,522,329 | 99.81 | 535,342 | 0.19 | 2,753,631 | 288,057,671 |
3 | To authorise the Directors to issue up to 108,689,501, Convertible Preference Shares and to issue the requisite number of Ordinary Shares upon Conversion | 502,304,506 | 99.29 | 3,603,723 | 0.71 | 50,000 | 505,908,229 |
4* | To adopt new articles of incorporation | 502,355,104 | 99.29 | 3,602,570 | 0.71 | 555 | 505,957,674 |
5* | To dis-apply pre-emption rights on the issue of Ordinary Shares following Conversion | 502,355,104 | 99.29 | 3,602,570 | 0.71 | 555 | 505,957,674 |
The Invesco Funds, who are interested in 215,146,927 Ordinary Shares representing approximately 31.99 per cent. of the Ordinary Share Capital, were not eligible to vote on Resolution 1 (the Waiver Resolution) or Resolution 2 (the RPT Resolution) at the General Meeting.
A summary of the votes lodged by proxy at the Class Meeting is 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 variation of rights attaching to the Preference Shares arising out of the issue of Convertible Preference Shares | 58,751,335 | 99.63 | 219,965 | 0.37 | 15,447 | 58,971,300 |
*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 6.00p.m. on 4 July 2016 was 672,336,366 Ordinary Shares. 75.25% of voting capital was instructed.
4 Total number of preference shares in issue at 6.00p.m. on 4 July 2016 was 98,567,943 Preference Shares. 59.83% of voting capital was instructed.
Copies of the resolutions concerning special business and passed at today's General Meeting and Class Meeting are available at the National Storage Mechanism and are available for viewing online at: http://www.hemscott.com/nsm.do.
Raven Russia also announces that it has published the listing document in respect of the admission of 108,689,501 Convertible Preference Shares to the Official List of the CISEA ("Listing Document"). Copies of the Listing Document are available from the registered office of the Company at P.O. Box 522, Second Floor, La Vieille Cour, La Plaiderie, St. Peter Port, Guernsey, GY1 6EH, Channel Islands.
Application has been made for the 108,689,501 Convertible Preference Shares to be admitted to the CISEA Official List and to trading on the SETSqx platform of the London Stock Exchange ("Admission"). It is expected that Admission will become effective and that dealings in the Convertible Preference Shares will commence on 7 July 2016.
Defined terms used in this announcement shall have the same meaning as set out in the Circular to Ordinary Shareholders dated 16 June 2016.
Expected Timetable and Selected Security Information
Admission and commencement of dealings in Convertible Preference Shares on CISEA and SETSqx
| 8.00 a.m. on 7 July 2016 |
CREST accounts expected to be credited with Convertible Preference Shares
| 7 July 2016 |
ISIN | GG00BYVFCC74 |
SEDOL (Trading venue: XLON) | BYVFCG1 |
SEDOL (Trading venue: XCIE) | BYVFCC7 |
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
Ravenscroft (CISE Sponsor) 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 CISEA Official List. 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
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