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Raven Property Group has conditionally agreed terms on the acquisition of a Grade A warehouse in Moscow. The all-cash acquisition is expected to complete by late September and should have a positive effect on earnings and cash flow. Management hopes to announce further accretive acquisitions during the year. We will review our estimates with the interim results, due for publication on 28 August 2018. Despite economic sanctions, the Russian economy has continued to grow and real estate agents forecast that warehouse demand in the key Moscow region will continue to outstrip supply.

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