REG-R.E.A. Holdings plc R.E.A. Holdings plc: Further re sale of PBJ

R E A HoldingsAnnouncement

31/08/2018 11:15

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   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: Further re sale of PBJ

   31-Aug-2018 / 11:12 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 sale of PBJ

    

   REA is pleased to announce that the 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 Taiko Plantations Pte Ltd, a
   wholly owned subsidiary of Kuala Lumpur Kepong Berhad group ("KLK")
   incorporated in Singapore, was completed on 31 August 2018.  Details of
   the proposed sale were set out in the circular to shareholders dated 12
   June 2018. 

    

   The purchase consideration has been settled on an estimated basis and is
   subject to adjustment in due course following the agreement or
   determination of certain figures as at the date of completion.  The bank
   debt and the net intra-group debt owed by PBJ have also been settled in
   full.

    

   Pursuant to the agreed terms of the sale, the purchase consideration is
   subject to reduction if the additional area of oil palms planted at PBJ
   during 2018 ahead of completion falls short of 520 hectares.  Such
   additional area remains subject to final survey but the company estimates
   that it is in excess of 520 hectares.

    

   The company expects to release its 2018 half yearly report on or around 21
   September 2018.

    

   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.:  5944
   EQS News ID:   719525


    
   End of Announcement EQS News Service

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