Reconstruction Capital II Ltd Loan Facility (8335J)
December 15 2022 - 2:59AM
UK Regulatory
TIDMRC2
RNS Number : 8335J
Reconstruction Capital II Ltd
15 December 2022
15 December 2022
Reconstruction Capital II Limited
Loan Facility
Reconstruction Capital II Limited (the "Company") announces that
it has entered into a EUR800,000 unsecured loan facility with Ion
Florescu, a substantial shareholder in the Company (the
"Facility").
The Facility is necessary to support the working capital
requirements of the Company, since the ability of Policolor, its
main investee company, to pay dividends has been negatively
affected by worsening trading conditions since the outbreak of the
war in Ukraine.
The Facility will carry an interest rate of 8% on all amounts
drawn down by the Company, and the loan term is twenty-four months.
There is no arrangement fee and no early repayment fee. The Company
can draw down under the Facility at any time prior to 31(st)
December 2023.
By virtue of the direct and indirect shareholdings held by Ion
Florescu in the Company, the Facility constitutes a related party
transaction pursuant to Rule 13 of the AIM Rules for Companies. The
directors of the Company (other than Zoran Melovski who is also a
director of Portadrix Limited, a company affiliated to Ion
Florescu), having consulted with the Company's nominated adviser,
Grant Thornton UK LLP, consider that the terms of the Facility are
fair and reasonable insofar as the Company's shareholders are
concerned.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
For further information, please contact:
Reconstruction Capital II Limited
Cornelia Oancea/Luca Nicolae
Tel: +40 21 3167680
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett/ George Grainger / Samuel Littler
Tel: +44 (0) 20 7383 5100
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END
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