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31 Aug 2018 17:00
31 August 2018
Raven Property Group Limited
("Raven" or the "Company")
As previously announced, the Company has been pursuing secondary listings of all of its issued ordinary shares of 1p each ("Ordinary Shares") on the exchange operated by the JSE Limited ("JSE") (the "JSE Secondary Listing") and the Moscow Stock Exchange ("MOEX") (the "MOEX Secondary Listing").
The Company is pleased to announce that it has today received formal approval from the JSE in respect of the JSE Secondary Listing.
In addition, the Company notes that the Financial Surveillance Department of the South African Reserve Bank has approved the JSE Secondary Listing and has classified the JSE Secondary Listing as "domestic" for exchange control purposes.
It is anticipated that a full pre-listing announcement will be released on the Stock Exchange News Service of the JSE on or about 3 September 2018, a copy of which will be available at the Company's website www.theravenpropertygroup.com/investors, with the JSE Secondary Listing expected to take place on 10 September 2018 ("JSE Admission").
In connection with and as a requirement of the JSE Secondary Listing, RPG Holdings Limited (a wholly owned subsidiary of the Company incorporated in Guernsey) has entered into a scrip lending agreement (the "Scrip Lending Agreement") with the JSE, pursuant to which RPG Holdings Limited has agreed to make available by way of a loan to the JSE of up to 400,000 Ordinary Shares ("Custody Shares"), such Custody Shares to be held in a custody account with Rencap Securities Proprietary Limited (the "Scrip Lending Arrangement").
The purpose of the Scrip Lending Arrangement is to enable the JSE to facilitate the settlement of any trades which take place on the JSE during the six month period from JSE Admission. Once the Scrip Lending Arrangement comes to an end then the JSE will return back to RPG Holdings Limited any Ordinary Shares it has borrowed pursuant to the Scrip Lending Agreement.
The Company continues to progress the MOEX Secondary Listing and will provide a further update to the market in due course.
Enquiries
Raven Property Group LimitedAnton BiltonGlyn Hirsch | Tel: +44 (0) 1481 712955 |
Novella Communications (public relations adviser)Tim RobertsonToby Andrews | Tel: +44 (0) 203 151 7008 |
N+1 Singer (UK joint broker) Corporate Finance - James Maxwell / James MoatSales - Alan Geeves / James Waterlow | Tel: +44 (0) 20 7496 3000
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Numis Securities (UK joint broker)Alex Ham / Jamie Loughborough / Alasdair Abram | Tel: +44 (0) 207 260 1000 |
Renaissance Capital (South African broker)Yvette Labuschagne | Tel: +27 (11) 750 1448 |
Ravenscroft (TISE sponsor)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, preference shares and warrants 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 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 1.8 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk 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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