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REG-R.E.A. Holdings plc R.E.A. Holdings plc: Placing of preference shares <Origin Href="QuoteRef">REAH.L</Origin>

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   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: Placing of preference shares

   09-Oct-2017 / 09:48 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")

    

   Placing of new 9 per cent cumulative preference shares and purchase of
   sterling notes

    

   In the company's half yearly report 2017 published in September 2017, the
   directors stated that, to the extent that markets permitted, they would
   seek to refinance a proportion of the £8.3 million nominal of 9.5 per cent
   guaranteed sterling notes 2015/17 issued by the subsidiary company, REA
   Finance N.V. ("REAF") and falling due for redemption on 31 December 2017
   ("2017 sterling notes"), by placing additions to existing issues of fixed
   interest securities.

    

   REA announces that Guy Butler Limited ("Guy Butler") has today placed firm
   for cash 8,358,768 new 9 per cent cumulative preference shares of £1 each
   (the "new preference shares") at a price per share of £1 plus accrued
   dividend up to the date of settlement.

    

   At the same time, the company has today purchased through Guy Butler
   £248,000 nominal of 2017 sterling notes at 100 per cent of their principal
   amount, together with accrued interest up to and including the date of
   settlement. 

    

   The date of settlement for the placing of the new preference shares and
   the purchase of 2017 sterling notes is expected to be 16 October 2017.

    

   The new preference shares are fungible with, and amount to 13.1 per cent
   of, the existing preference shares already admitted to trading.  In
   accordance with the Prospectus Rules issued by the Financial Conduct
   Authority in compliance with relevant European law, no prospectus is
   required to be published, and it should be noted that the company is not
   publishing a prospectus, in connection with the placing of new preference
   shares.

    

   The placing remains conditional only upon the new preference shares being
   admitted to the standard listing segment of the Official List and to
   trading on the London Stock Exchange's main market for listed securities. 
   Application for admission is being made and it is expected that admission
   will become effective, and that dealings in the new preference shares will
   commence, on 16 October 2017.

    

   The preference shares entitle the holders to be paid out of the profits of
   the company available for dividend and resolved to be distributed, in
   priority to the payment of any dividend to the holders of any other class
   of shares in the capital of the company, a fixed cumulative preferential
   dividend of 9 per cent per annum on the nominal amount paid up on such
   preference shares payable half-yearly in equal amounts on 30 June and 31
   December.  The preference shares are not redeemable.

    

   The new preference shares will, upon issue, rank pari passu in all
   respects with the preference shares already in issue, including as regards
   payment of the preferential dividend due for payment in respect of the six
   month period to 31 December 2017.

    

   As a result of the issue of new preference shares, REA's issued share
   capital will comprise 40,509,529 ordinary shares of 25p each and
   72,000,000 9 per cent cumulative preference shares of £1 each.  The number
   of votes that may ordinarily be cast on a poll at a general meeting of REA
   and that attach to the issued ordinary shares is 40,509,529 (of which
   132,500 are currently held as treasury shares) and to the issued
   preference shares is nil. 

    

   The above figures may be used by REA shareholders for the calculations by
   which they determine whether they are required to notify their interest
   in, or change of interest in, shares of REA, under the Financial Conduct
   Authority's Disclosure and Transparency Rules.

    

    

    

   Enquiries:

   R.E.A. Holdings plc    

   Tel: 020 7436 7877

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   ISIN:          GB0002349065
   Category Code: MSCH
   TIDM:          RE.
   LEI Code:      213800YXL94R94RYG150
   Sequence No.:  4712


    
   End of Announcement EQS News Service

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   616867  09-Oct-2017 

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