REG-R.E.A. Holdings plc R.E.A. Holdings plc: proposed issue of $3 million nominal of 7.5 per cent dollar notes 2022

R E A HoldingsAnnouncement

25/09/2019 11:35

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   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: proposed issue of $3 million nominal of 7.5 per cent
   dollar notes 2022

   25-Sep-2019 / 11:34 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.

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   R.E.A. Holdings plc ("REAH" or the "company")

    

   Proposed issue by REAH of $3 million nominal of 7.5 per cent dollar notes
   2022

   As stated in the company's half yearly report published on 20 September
   2019, an agreement has been reached with a customer of the group pursuant
   to which the customer will enter into an advance supply arrangement for
   the purchase by the customer of CPO from the group.  In connection with
   such arrangement, it has been agreed that the customer should subscribe $3
   million of new 7.5 per cent dollar notes 2022 of the company (the "dollar
   notes").

   Accordingly, the company proposes today to issue $3 million nominal of new
   dollar notes by way of a placing and the customer will subscribe such
   notes for $3 million in cash, plus an amount equal to the interest accrued
   on the existing issued dollar notes in respect of the period from 1 July
   2019 to the date of issue of the new dollar notes.  The subscription
   monies for the new dollar notes, which are payable in full on allotment,
   reflect the value of the new dollar notes, the value of the CPO supply
   arrangements agreed by the group and an agreement by the company to
   repurchase the new dollar notes up to an amount equal to the balance of
   the dollar notes then held by the customer should the supply arrangements
   terminate before 30 June 2022 (being, the redemption date of the dollar
   notes). 

   The new dollar notes will rank pari passu with the US$24,035,218 original
   dollar notes currently in issue.  Interest on the new dollar notes is
   payable semi-annually in arrears on 30 June and 31 December in each year,
   commencing on 31 December 2019.   

    

   It is expected that dealings in the fully paid new dollar notes issued
   pursuant to the placing will commence on or about 30 September 2019.

    

   Application has been made to the Financial Conduct Authority under Part VI
   of the Financial Services and Markets Act 2000 for the new dollar notes to
   be admitted to the Official List of the UK Listing Authority and to the
   London Stock Exchange plc for such notes to be admitted to trading on the
   Regulated Market of the London Stock Exchange plc.  The proposed issue is
   conditional upon the admission of the new dollar notes allotted pursuant
   to the placing to the Official List and to trading on the Regulated Market
   of the London Stock Exchange.

    

    

   Enquiries:

   R.E.A Holdings plc

   Tel: 020 7436 7877

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   ISIN:          GB0002349065
   Category Code: IOD
   TIDM:          RE.
   LEI Code:      213800YXL94R94RYG150
   Sequence No.:  21267
   EQS News ID:   879661


    
   End of Announcement EQS News Service

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