REG-R.E.A. Holdings plc R.E.A. Holdings plc: Further re further investment by DSN in REA Kaltim

R E A HoldingsAnnouncement

29/02/2024 07:15

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   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: Further re further investment by DSN in REA Kaltim

   29-Feb-2024 / 07:00 GMT/BST

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

    

   Closing of subscription agreement with PT Dharma Nusantara Satya ("DSN")

   Dividend in respect of 9 per cent cumulative preference shares (the
   “preference shares”)

    

   As detailed in the company’s circular to shareholders, dated 25 January
   2024,  the company has entered into a share subscription agreement with
   DSN pursuant to which it has been agreed, inter alia, that a subsidiary of
   DSN will subscribe for additional shares in the company’s principal
   operating subsidiary, PT REA Kaltim Plantations ("REA Kaltim"), so as to
   increase DSN's interest in REA Kaltim from 15 per cent to 35 per cent (the
   "DSN share subscription").

    

   Following the previously announced approval of the share subscription
   agreement at the REA general meeting held on 12 February 2024, REA is now
   pleased to announce that all conditions of the DSN share subscription have
   been satisfied. Closing is expected to take place on 8 March 2024 with the
   immediate financial settlements due on closing expected to be completed by
   15 March 2024.

    

   Upon full settlement of the immediate amounts due on closing, the
   directors intend to declare a dividend in respect of all of the
   outstanding arrears of dividends on the preference shares (amounting in
   aggregate to 11.5p per preference share) for payment on a date to be
   determined in accordance with the London Stock Exchange’s dividend
   procedure timetable. Accordingly, payment of the preference dividend may
   be expected to be made by 15 April 2024.

    

   Enquiries:

   R.E.A. Holdings plc

   Tel: 020 7436 7877

    

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB0002349065
   Category Code: FUR - -
   TIDM:          RE.
   LEI Code:      213800YXL94R94RYG150
   Sequence No.:  306654
   EQS News ID:   1847687


    
   End of Announcement EQS News Service

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