REG-R.E.A. Holdings plc R.E.A. Holdings plc: Result of Meeting concerning enhanced proposals in respect of 8.75 percent guaranteed sterling notes 2020

R E A HoldingsAnnouncement

31/03/2020 12:10

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   R.E.A. Holdings plc (RE.)
   R.E.A. Holdings plc: Result of Meeting concerning enhanced proposals in
   respect of 8.75 percent guaranteed sterling notes 2020

   31-March-2020 / 12:07 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 Holdings")
   REA Finance B.V. ("REA Finance")

   Enhanced proposals to extend the date  for repayment of the 8.75 per  cent
   guaranteed sterling notes 2020 issued by REA Finance B.V. and  irrevocably
   and unconditionally guaranteed by R.E.A. Holdings plc and R.E.A.  Services
   Limited (the "sterling notes")

   Results of general meeting of the holders of the sterling notes

   At the general meeting  of the holders of  the sterling notes held  today,
   the  requisite  extraordinary  resolution  approving  the  proposals  for,
   amongst other things, the extension of the repayment date for the sterling
   notes from 31 August 2020 to 31 August 2025 was duly passed.

   The holders of a total of  £30,852,000 nominal of the sterling notes  were
   eligible to  vote at  the general  meeting, with  each £1,000  nominal  of
   sterling notes carrying  one vote  on a  poll.  The  vote was  taken on  a
   poll.  Proxies  were  received for  use  in connection  with  the  general
   meeting  with  the   following  instructions   (treating  proxies   giving
   discretion to the chairman as a "for" instruction):

                                  Votes   For Votes
                                  (including  Discretion  Votes     Votes
                                  Chairman's  Third Party Against   Withheld
                                  discretion)
   Extraordinary  resolution   to
   sanction     the      proposed
   extension  to  the   repayment                                    
   date for  the  sterling  notes
   from  31  August  2020  to  31 20,320,000  0           1,600,000 4,875,000
   August 2025 and other  matters
   as detailed in  the notice  of
   meeting

    

   Implementation of the enhanced proposals

   Accordingly,  it  is   expected  that  the   proposals  detailed  in   the
   announcement by REA Holdings and REA  Finance on 6 March 2020 as  enhanced
   as detailed in  the announcement  by REA Holdings  and REA  Finance on  20
   March 2020 (the  "enhanced proposals")  will become effective  on 1  April
   2020.

   Warrant strike price

   Pursuant to the  enhanced proposals, REA  Holdings will issue  Noteholders
   with a total of 4,010,760 warrants each entitling the holder to  subscribe
   one new ordinary share in the capital of REA Holdings at a price equal  to
   20 per cent  above the  average of the  middle market  quotations for  the
   ordinary shares on each of the  dealing days between 26 February 2020  and
   26 March  2020 (inclusive)  (as  derived from  the Daily  Official  List),
   payable in full on subscription. 

   Such subscription  price has  now  been calculated  to  be £1.26  per  new
   ordinary share.

   Enquiries:
   R.E.A Holdings plc
   Tel: 020 7436 7877

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   ISIN:          GB0002349065
   Category Code: ROM
   TIDM:          RE.
   LEI Code:      213800YXL94R94RYG150
   Sequence No.:  55608
   EQS News ID:   1011585


    
   End of Announcement EQS News Service

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