Raven Russia Limited MoU signed with Russian Co-Op (3449F)
17 May 2017 - 4:00PM
UK Regulatory
TIDMRUS
RNS Number : 3449F
Raven Russia Limited
17 May 2017
17 May 2017
Raven Russia Limited ("Raven Russia" or the "Company")
Signing of Memorandum of Understanding with the Russian
Co-Op
The Board of Raven Russia is pleased to announce that it has
signed a memorandum of understanding ("MOU") with the Central Union
of Consumer Cooperatives for the Russian Federation ("the Co-Op")
to develop a nationwide network of wholesale distribution centres
for agricultural products.
The MOU provides for the parties to create a network of modern
warehouse storage, primary processing and distribution facilities
for a full range of agricultural and grocery products in different
regions of the Russian Federation. Raven Russia will own these
facilities and the Co-Op will lease and operate the wholesale
distribution centres.
The parties envisage that the properties will comprise
traditional warehouses, together with specialised storage
facilities for different types of products including fresh fruit,
vegetables, fresh meat and fish products and grain.
It is anticipated that Raven Russia will provide financing to
the project, to permit the acquisition and development of sites
along with external project finance. Unleveraged target returns are
a minimum of 12% in Rouble terms.
The Co-Op has a 185 year history and is the central body for the
consumer cooperative system in the Russian Federation that unites
more than two thousand six hundred consumer societies and more than
2.5million unit holders countrywide. These consumer societies
include production organisations, purchasing centres for
agricultural products, domestic services centres, public catering
establishments, and shops. The member organisations provide jobs
for around 200,000 people.
Anton Bilton, Executive Deputy Chairman of Raven Russia said:
"We are delighted to sign this MOU with the Co-Op and anticipate
developing a large scale network of distribution centres across the
Russian Federation."
Dmitriy Zubov, Chairman of the Council of the Co-Op said: "The
cooperation in this area will help optimise the storage, primary
processing and distribution of food and facilitate access to
markets for small, medium and large agricultural producers."
Enquiries
Raven Russia Limited Tel: + 44 (0) 1481 712955
Anton Bilton
Glyn Hirsch
Novella Communications Tel: +44 (0) 203 151 7008
Tim Robertson
Toby Andrews
N+1 Singer Tel: +44 (0) 20 7496 3000
Corporate Finance - James Maxwell / Liz Yong
Sales - Alan Geeves / James Waterlow
Ravenscroft Tel: + 44 (0) 1481 729100
Semelia Hamon
About Raven Russia
Raven Russia 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 International Stock Exchange ("TISE"). Its
Convertible Preference Shares are admitted to the Official List of
TISE and trading on the SETSqx market of the London Stock Exchange.
The Company operates out of offices in Guernsey, Moscow and Cyprus
and has an investment portfolio of circa 1.6 million square metres
of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and
Novosibirsk and 49,200 square metres of commercial office space in
St Petersburg. For further information visit the Company's website:
www.ravenrussia.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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