AIM
26 September 2006
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2
ALL APPLICANTS MUST COMPLETE THE FOLLOWING:
COMPANY NAME: Raven Capital Inc
COMPANY ADDRESS:
Walker House
Mary Street
PO Box 908GT George Town
Grand Cayman, Cayman Islands
COMPANY POSTCODE: n/a
COUNTRY OF INCORPORATION: Cayman Islands
COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
Raven's stated investment strategy at the time of its original AIM admission was to build, largely through acquisition and joint venture transactions, a group specialising in the hedge fund sector.
Since then, the Directors have explored a number of potential opportunities of that type, although none were sufficiently attractive to merit being put before Shareholders.
The Company has now agreed to acquire Upstream Asia Limited, a company which provides a range of corporate and marketing communications services to multinational corporations and Asia-based clients throughout the Asia-Pacific region, with a focus on Greater China. This will result in there being a fundamental change in the business of the Company from that of an investment company specialising in the hedge fund sector to a company providing international corporate and marketing communications services.
DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):
133,541,670 ordinary shares of 0.25p each
CAPITAL TO BE RAISED ON ADMISSION:
£500,000 before expenses
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Directors
Graham Butt (Executive Director and current Chairman)
Joanna Barrett (Executive Director)
Proposed Directors
David Ketchum (Proposed Chief Executive Officer)
Jane McGuire Ketchum (Proposed Non-Executive Director)
Shahed Mahmood (Proposed Non-Executive Chairman)
PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL BEFORE AND AFTER ADMISSION:
| Name | Existing Ordinary Shares | % of current issued share capital | Ordinary Shares on Admission | % of share capital on Admission |
| David Ketchum | 0 | 0 | 20,425,935 | 15.30 |
| techpacific.com (BVI) Investments Limited | 0 | 0 | 20,276,384 | 15.18 |
| Jane McGuire Ketchum | 0 | 0 | 20,079,794 | 15.04 |
| Jonathan Aiman Hakim | 0 | 0 | 7,135,126 | 5.34 |
| Peter Kingsbury | 0 | 0 | 4,079,049 | 3.05 |
| Paul Adams | 0 | 0 | 4,079,049 | 3.05 |
| EP Singapore Pte Limited | 13,300,000 | 29.98 | 13,300,000 | 9.26 |
| W B Nominees Limited* | 12,370,556 | 27.88 | 12,370,556 | 9.26 |
| Pershing Keen Nominees Limited | 4,956,611 | 11.17 | 4,956,611 | 3.71 |
*W B Nominees Limited holds 11,108,332 Ordinary Shares on behalf of Corvus Capital Inc.
NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
Silk Route Investments Limited 6,750,000 Ordinary Shares
Codan Trust Company (Cayman) Limited
P.O. Box 2681 GT
Century Yard, Cricket Square
Hutchins Drive, George Town
Grand Cayman Cayman Islands
The Ordinary Shares above will be issued in consideration of Silk Route having introduced the Company to
Upstream.
Penkenna Limited of Palm Grove House, PO Box 438 Road Town Tortola British Virgin Islands, will receive a fee of
5 per cent of the gross placing proceeds i.e. £25k in consideration of it introducing placees to Raven.
ANTICIPATED ACCOUNTING REFERENCE DATE:
30 September
EXPECTED ADMISSION DATE:
16 October 2006
NAME AND ADDRESS OF NOMINATED ADVISER:
Strand Partners Limited
26 Mount Row
London, W1K 3SQ
NAME AND ADDRESS OF BROKER:
Walker Crips Stockbrokers Limited
Sophia House
76/80 City Road
London EC1Y 2EQ
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
Fladgate Fielder
25 North Row
London W1K 6D
The Admission Document is also available to be inspected at www.corvus.com
DATE OF NOTIFICATION:
26 September 2006
NEW/ UPDATE (see note):
New
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