History

The Raven Property Group was founded in 2005 to build and acquire an investment portfolio of Class "A" warehouse complexes in Russia under the brand Raven Russia. 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 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 TISE Official List and 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 Class "A" warehouses in Moscow, St Petersburg, Rostov-on-Don, Novosibirsk and Nizhny Novogorod and 49,000 square metres of commercial office space in St Petersburg.

  • 4 July 2005

    Raven Russia (“RR”) incorporated

  • 29 July 2005

    153m ordinary shares (“RUS”) admitted to trading on AIM

  • 27 April 2006

    Further 269.5m RUS placed and admitted to trading on AIM

  • 27 Nov 2008

    RR completes internalisation of its property adviser

  • 24 March 2009

    RR issues 76m preference shares ("RUSP") and warrants ("RUSW") and they start to trade on AIM

  • 9 July 2009

    RR completes the takeover of Raven Mount ("RM")

  • 2 August 2010

    RUS and RUSW are admitted to trading on the main market of the LSE

  • 27 July 2011

    RUSP is admitted to trading on the main market of the LSE

  • 26 June 2012

    RR places further 48.4m RUSP and completes acquisition of Pushinko Logistics Park, a class 1 transation

  • 31 December 2013

    50% of RUSP in issue converted into RUS (1 RUSP for 2 RUS)

  • 7 July 2016

    Raven Russia's 108.7m Convertible Preference Shares admitted to the CISEA Official List and to trading on the SETSqx platform of the London Stock Exchange

  • 26 April 2017

    RR completes the acquisition of a portfolio of three high quality income producing properties in St Petersburg: Gorigo, Kellerman and Primium

  • 28 November 2017

    RR completes the acquisition of Sever 2 - Grade “A” logistics park of 195,132 square metres in Moscow

  • 1 June 2018

    Raven Russia Limited changes name to Raven Property Group Limited

  • 4 June 2018

    London Stock Exchange Tradeable Instrument Display Mnemonics (“TIDM”) change from RUS, RUSC, RUSP and RUSW to RAV, RAVC, RAVP and RAVW respectively

  • 10 September 2018

    RAV admitted to the main board of the Johannesburg Stock Exchange as a secondary listing

  • 13 September 2018

    RPG completes acquisition for further phase of Sever grade "A" logistics park of 58,850 square metres in Moscow

  • 3 October 2018

    RAV admitted to trading on the Moscow Stock Exchange as a secondary listing

  • 19 December 2018

    RPG completes acquisition of a grade "A" logistics warehouse complex of 64,375 square metres in Nizhny Novgorod

  • 30 September 2020

    RPG completes re-designation of Convertible Preference Shares (RAVC) in Ordinary (RAV) and Preference (RAVP) Shares

Strategy

The Group runs its property investment portfolio with the objective of delivering progressive distributions to shareholders over the long term.

Since 2005, it has built and acquired circa 1.9 million square metres of space in major Russian cities, with the majority situated in the Moscow Region. Where appropriate opportunities arise, the Group will look to expand its investment portfolio through both development and acquisition. 

Business Model

Our business model aims to generate high rental income yields in the under supplied warehouse logistics market in Russia and principally in the Moscow region.

Tenants tend to be large domestic or international groups with strong underlying covenants. 

We have historically operated within prudent, secured gearing levels.

The most recent update on our strategy and business model can be found in our latest Annual Report and Accounts

Related Businesses

Raven Russia Holdings Cyprus Limited

Raven Russia Holdings Cyprus Limited (“RRHCL”) is the main holding company of the Group’s Russian operations. With offices in Limassol and Nicosia it has 5 Directors and 25 staff overseeing the Group’s Russian businesses and joint ventures.

For more information visit: www.rrhcyprus.com

Raven Russia Property Advisors Limited

Raven Russia Property Advisors Limited (“RRPA”) carries out the property management and marketing requirements of the Group through its branch in Moscow, as directed by and reporting to RRHCL.

For more information visit: www.rrpa.ru

RosLogistics

RosLogistics, a wholly owned subsidiary of RRHCL, is a third-party logistics business.

It has traded since 2002 and provides outsourced warehouse storage and transport services, including value-added services such as co-packing and labelling of goods. Its principal centres of operation are in Moscow and St Petersburg.

For more information visit: www.roslogistics.ru

Raven Mount

Raven Mount Group Limited is a wholly owned subsidiary of The Raven Property Group.

Its principal operation is a joint venture providing luxury second homes in a secure 650 acre woodland and lake development in Cotswolds, UK. 

For more information visit: www.thelakesbyyoo.com

Board Of Directors

Sir Richard Jewson

Non Executive Chairman

Sir Richard joined Jewson, the timber and building merchant, in 1965 becoming the Managing Director, then Chairman of its holding group, Meyer International plc, from which he retired in 1993.  Since then he has served as Non Executive Director and Chairman of a number of public companies. He retired in 2004 after 10 years as Chairman of Savills plc and in 2005, after 14 years as a Non Executive Director and Deputy Chairman of Anglian Water plc. He is currently Chairman of Tritax Big Box REIT Plc, and a Non Executive Director of Temple Bar Investment Trust plc. 

He is Chairman of the Nominations Committee and a member of the Remuneration Committee.

Anton Bilton

Executive Deputy Chairman

Anton is an economics graduate from The City University in London. Anton was the founder of The Raven Group. He has also been a founder and director of three other companies that have floated on AIM. Anton is a non-executive Chairman of Sabina Estates Ltd.

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Glyn Hirsch

Group Chief Executive Officer

Glyn qualified as a Chartered Accountant with Peat, Marwick Mitchell & Co in 1985. Until 1995, he worked in the corporate finance department of UBS (formerly Phillips & Drew) latterly as an Executive Director specialising in UK smaller companies. From 1995 until 2001, he was Chief Executive of CLS Holdings plc, the listed property investment company, a former Director of Citadel Holdings plc, the specialist French property investor and former Chairman of Property Fund Management plc, the listed property fund management business. Glyn is a non-executive director of Sabina Estates Ltd.

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Mark Sinclair

Group Chief Financial Officer

Mark is a chartered accountant, and spent 18 years at BDO Stoy Hayward, a leading professional services firm in the UK.  He was a partner in the London real estate group, responsible for a portfolio of large property companies, both listed and private.  He joined Raven Mount in June 2006 as Finance Director of Raven Russia Property Management Ltd, the former Property Adviser to the Company and joined the Board of The Raven Property Group in March 2009.

Colin Smith

Chief Operating Officer

Colin qualified as a Chartered Accountant with BDO Stoy Hayward.  Prior to joining The Raven Property Group, he was a Director in the audit and assurance division of the chartered accountant practice of BDO in Guernsey, having joined it in 1994.  Colin has also been a Non Executive director of a number of offshore investment funds and companies.

David Moore

Non Executive Director

David Moore is an advocate of the Royal Court of Guernsey and is currently a consultant with Collas Crill in Guernsey. He is a former partner of Guernsey law firm Mourant Ozannes, where he had practised since 1993 and before that spent 10 years practising in the City of London, predominantly with Ashurst Morris Crisp. He specialises in corporate and financial matters and is a Non Executive Director of a number of investment, insurance and finance sector-related companies. 

He is a member of the Audit and Remuneration Committees.

Michael Hough

Senior Independent Non Executive Director

Michael Hough previously worked at Goldman Sachs and Drexel Burnham Lambert as well as Apax Partners and Altium Capital.  He subsequently co-founded two private Equity firms; Iceni Capital and Aurora Russia.  He was also, for 5 years, the CEO and President of Henry Technologies, a global manufacturing and technology business.  In addition, he was Chairman of OSG, Russia’s largest document storage business for 5 years prior to its successful sale.

He is Chairman of the Remuneration Committee and a member of the Audit and Nominations Committee.

Russell Field

Non Executive Director

Russell is a chartered accountant, and spent 31 years at BDO LLP, a leading professional services firm in the UK. He spent 25 years as a partner in the Firm’s real estate group, responsible for a portfolio of large property companies, both listed and private. He was also the UK and Global head of real estate and construction for the 4 years ended 30 June 2020. During his long career with BDO he spent 13 years as an elected member of the Firm’s Partnership Council.

He is Chairman of the Audit Committee and a member of the Remuneration Committee.

Philip Swire

Non Executive Director

Philip Swire has more than 25 years of experience placing alternative investment funds. He is Senior Advisor on the Advisory Board to e-Shang Redwood (ESR), the leading Pan Asia Pacific logistics developer and operator which is listed on the Hong Kong Stock Exchange. Philip held senior positions at Lipworth Capital, Campbell Lutyens ,Bankers Trust/Deutsche Bank, Donaldson Lufkin and Jenrette and Hambros Bank. He is presently a partner and regulated by the FCA at Karroo Capital.

Before his commercial career, he served as an officer in the British Army and retired with the rank of Captain.

He is a member of the Nominations Committee.

Corporate Governance

The Board is collectively charged with governance of the Group, providing leadership and direction for management. It develops the Group’s strategy, values, standards and culture and ensures the resources and controls are in place to implement these. 

Our full Corporate Governance report can be found on the below link:

Corporate Governance Report

Board Committees terms of reference

The Board has also delegated certain aspects of its responsibilities to the Audit, Remuneration and Nominations Committees through terms of reference. The Board and its Committees have regular scheduled meetings and together with the schedule of matters reserved for the Board, the Committees allow the Board to discharge its duties effectively.

The terms of reference for the Board Committees can be found on the links below:

Audit Committee Terms of Reference

Nomination Committee Terms of Reference

Remuneration Committee Terms of Reference

Corporate Responsibility and Environmental report

Corporate responsibility covers different aspects of the business but our primary focus is on the environmental impact of our activities and properties and the social impact in the jurisdictions in which the Group operates. It is the responsibility of the Board to manage the environmental, economic and social impact of the Group’s business strategy.

Our report on Corporate Responsibility and Greenhouse Gases and Carbon Reporting can be found on the link below:

Corporate Responsibility Report

Risk management

The Board places significant importance on identifying and managing the risks facing the business. These encompass the risks, real and perceived, of operating in a foreign market such as Russia, and the more obvious cyclical, property specific risks, presented by the development and investment in a large property portfolio. Risk and uncertainties are accepted as part of doing business and managed accordingly.

Our principle risks and uncertainties report can be found on the link below:

Risk Report