RAV Raven Property Group Limited

TIDMRAV

RNS Number : 1133F

Raven Property Group Limited

17 March 2022

17 March 2022

Raven Property Group Limited

(the "Company")

Suspension of trading of Ordinary Shares and Preference Shares on the London Stock Exchange

As announced on 2 March 2022, current sanctions and counter sanctions are severely limiting the Company's ability to access funds from its Russian subsidiaries and exchange controls are limiting the ability to convert roubles into alternative currencies, even at the current punitive exchange rates.

In a short timeframe of just two weeks, the impact of the actions of Russia on Ukraine has completely compromised the Company's business model and its ability to assess its current financial position and ability to inform the market accordingly. The recent performance of its listed securities confirms the market's view. Given that sanctions have only just been introduced and that they are expected to be in place for the foreseeable future, their impact on the Company's market and financial position is unquantifiable at this time. Therefore any estimate of the net asset value of the Company today or certainty of its future income profile is not possible in the current circumstances.

Consequently, the Company has requested from the FCA a suspension of listing of its ordinary shares and preference shares and a suspension to trading on the London Stock Exchange of the same shares. The suspension will take effect from 7.30 a.m. this morning in accordance with LR 5.3.

Similar suspensions will apply to the Company's listings on TISE, JSE and MOEX.

A further announcement will be made in due course.

The information contained within this announcement is considered by Raven Property Group Limited to constitute inside information pursuant to Article 7 of EU Regulation No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. 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.

Enquiries

 
 Raven Property Group Limited               Tel: + 44 (0) 1481 712955 
  Anton Bilton 
  Glyn Hirsch 
 Novella Communications (public relations   Tel: +44 (0) 203 151 7008 
  adviser) 
  Tim Robertson 
  Fergus Young 
 Singer Capital Markets (UK broker)         Tel: +44 (0) 207 496 3000 
  Investment Banking - James Maxwell 
  / Alex Bond 
  Markets - Alan Geeves / James Waterlow 
 Java Capital (South African Sponsor)          Tel: +27 (11) 722 3050 
  Jean Tyndale-Biscoe / Andrew Brooking 
 Renaissance Capital (Russian broker)           Tel: + 7 495 258 7770 
  David Pipia 
 Ravenscroft Consultancy & Listing          Tel: + 44 (0) 1481 732746 
  Services Limited (TISE sponsor) 
  Semelia Hamon 
 

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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END

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(END) Dow Jones Newswires

March 17, 2022 03:43 ET (07:43 GMT)

Grafico Azioni Raven Property (LSE:RAV)
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Da Dic 2024 a Gen 2025

Grafico Azioni Raven Property (LSE:RAV)
Storico
Da Gen 2024 a Gen 2025