Raven Russia to buy surplus tendered shares

Raven Russian, the Russia-focused property company, said all shareholders who took advantage of the company's offer to buy back shares at 75p a throw will be able to sell their full entitlement.

The company said 247.9m shares were tendered under its share buy-back scheme announced in September.

Shareholders were offered the opportunity to sell their shares to the company on the basis of one tendered share for every 49 shares held. There was also the option to tender extra shares for repurchase, and the company said tenders received for surplus shares will be met at the rate of 0.00461258147999742 shares for each surplus share tendered.

JH