RAV.L Regulatory News (RAV)

12 December 2019

Raven Property Group Limited ("Raven" or the "Company")

Conditional purchase of its own preference shares and convertible preference shares

The Board of Raven refers to the announcement it made yesterday morning and can now confirm that it has entered into conditional agreements to purchase off-market 41,803,518 of its preference shares and 42,118,860 of its convertible preference shares from Invesco Asset Management Limited (acting as agent for its underlying funds) ("IAML"). The purchase prices for the shares to be acquired by the Company are 115 pence per preference share and 92.5 pence per convertible preference share payable in cash.

The shares proposed to be acquired represent all of the preference shares and convertible preference shares in the Company held by funds managed by IAML. The proposed purchase of these shares will be a related party transaction under the FCA's Listing Rules as IAML and its underlying funds are together a substantial shareholder of the Company for the purposes of the Listing Rules.

The Company is progressing negotiations regarding the financing required to purchase the shares and will provide an update in due course.

The purchase will be conditional, inter alia, on ordinary shareholders and convertible preference shareholders passing the resolutions necessary to authorise the transaction and on the purchase by the Company of ordinary shares from IAML, as announced by the Company on 2 December 2019, having completed.

The Company intends to post circulars (including notices of meetings) to ordinary shareholders and convertible preference shareholders in respect of the transactions outlined above in January 2020 and a further announcement will be made at such time.

The Company will make a decision about holding the preference shares and convertible preference shares purchased in treasury or cancelling them in due course.

The information contained within this announcement relating to the purchase by the Company of its own shares is considered by Raven Property Group Limited to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

The person responsible for arranging for the release of this announcement on behalf of the Company is Benn Garnham, Company Secretary.

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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