R.E.A. Holdings plc: Further re circular dated 12 June 2018 (718225)
August 28 2018 - 10:26AM
UK Regulatory
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release.
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: Further re circular dated 12 June 2018
28-Aug-2018 / 16:25 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
R.E.A. Holdings plc ("REA" or the "company")
Further re circular dated 12 June 2018
REA is pleased to announce that certain bank financing discussions referred
to in the circular issued to shareholders on 12 June 2018 (the "circular")
have now been brought to a successful conclusion with execution of a
facility agreement between the company's Indonesian subsidiary company, PT
Sasana Yudha Bhakti ("SYB"), and PT Bank Mandiri (Persero) Tbk. ("Bank
Mandiri").
Pursuant to the facility agreement, Bank Mandiri has advanced to SYB two
medium term Indonesian rupiah loans equivalent in total to some $32.5
million. The loans are repayable over a period of eight years, bear interest
at an initial rate of 11 per cent per annum and are principally secured by
first fixed charges over the assets of SYB and a guarantee from REA.
In anticipation of concluding the facility agreement with Bank Mandiri, on 8
August 2018 SYB repaid the term loan and revolving credit facilities
previously made available to SYB by PT Bank DBS Indonesia, together
amounting to the equivalent of some $10.2 million. The proceeds of the Bank
Mandiri loans will be used to refinance the monies used for that repayment
and, as to the balance, in augmenting the REA group's working capital.
The principal purpose of the circular was to provide information in
connection with the proposed sale by the company's subsidiary, PT REA Kaltim
Plantations ("REA Kaltim") of REA Kaltim's 95 per cent interest in PT Putra
Bongan Jaya ("PBJ") to Kuala Lumpur Kepong Berhad (the "proposed sale").
It remains expected that the proposed sale of PBJ will complete in
accordance with the previously indicated timetable. The company will issue a
further update when completion occurs.
Enquiries
R.E.A. Holdings plc
Tel: 020 7436 7877
ISIN: GB0002349065
Category Code: FUR - Further re circular dated 12 June 2018
TIDM: RE.
Sequence No.: 5928
EQS News ID: 718225
End of Announcement EQS News Service
(END) Dow Jones Newswires
August 28, 2018 11:26 ET (15:26 GMT)
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