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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.
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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
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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
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