REG-R.E.A. Holdings plc R.E.A. Holdings plc: Statement regarding bank financing

R E A HoldingsAnnouncement

12/08/2021 07:05

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   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: Statement regarding bank financing

   12-Aug-2021 / 07:00 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 statement regarding bank financing

   It was announced on 24 June 2021 that discussions between REA's
   subsidiary, PT REA Kaltim Plantations ("REA Kaltim"), and the REA group's
   Indonesian bankers, PT Bank Mandiri (Persero) Tbk ("Mandiri"), had been
   successfully concluded with an agreement that the Indonesian rupiah
   denominated loan and working capital facility previously provided by
   Mandiri to REA Kaltim would be replaced with two new loans and a new
   working capital facility, denominated in Indonesian rupiah, but that
   completion of the agreement remained subject to satisfaction of a number
   of technical conditions.

   With one exception, all of the technical conditions have now been
   satisfied.  The one exception is the registration of a charge in favour of
   Mandiri over one title deed that remains pending at the relevant local
   land office.  Notwithstanding that this condition has still to be
   satisfied, Mandiri agreed that the arrangements with them could be
   completed.  Accordingly, the two new loans and working capital facility
   have been drawn down and the previous loan and working capital facility
   repaid.

   REA expects to publish its 2021 half yearly report in September in
   accordance with the company's usual reporting timetable.

    

    

   Enquiries:

   R.E.A. Holdings plc

   Tel: 020 7436 7877

    

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   ISIN:          GB0002349065
   Category Code: FUR - .
   TIDM:          RE.
   LEI Code:      213800YXL94R94RYG150
   Sequence No.:  119770
   EQS News ID:   1225735


    
   End of Announcement EQS News Service

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