TIDMRAV

RNS Number : 3268L

Raven Property Group Limited

12 May 2022

12 May 2022

Raven Property Group Limited

(the "Company")

Preference Shares dividend

Further to the Company's announcement on 30 March 2022, the economic uncertainty surrounding its business in Russia caused by current sanctions and counter sanctions continues to severely limit the Company's ability to access funds from its Russian subsidiaries and to convert roubles into alternative currencies. The Company confirmed that payment of the preference share dividend for the period from 31 December 2021 up to, but excluding, 31 March 2022 ("March 2022 Preference Dividend") would not be made and accumulate in accordance with the terms of the instrument. The record date for such dividend was 18 February 2022 and in the event the Company is in a position to pay the March 2022 Preference Dividend (and any interest accrued thereon in accordance with the Company's articles of incorporation) it will be paid to the preference shareholders of the Company on the register on such record date.

In respect of future quarterly instalments of the preference share dividend, in light of the continued uncertainty, the Company does not currently anticipate paying any such future instalments of preference dividends. It will continue to monitor the situation and should the position change it will notify preference shareholders and where it expects to pay such preference dividends it will set out the record date for such dividend in any such notification. However, should the Company determine that it is in a position to resume paying preference dividends it will first pay the preference dividends which have been outstanding the longest (including any interest accrued thereon) starting with the March 2022 Preference Dividend.

Enquiries

 
 Raven Property Group Limited              Tel: + 44 (0) 1481 712955 
  Anton Bilton 
  Glyn Hirsch 
 Novella Communications (public            Tel: +44 (0) 203 151 7008 
  relations 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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