REG-R.E.A. Holdings plc R.E.A. Holdings plc: Further re circular dated 12 June 2018

R E A HoldingsAnnouncement

28/08/2018 16:30

============

   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

   ══════════════════════════════════════════════════════════════════════════

    1 fncls.ssp?fn=show_t_gif&application_id=718225&application_name=news&site_id=reuters8

References

   Visible links


============