REG - Reconstruction CapII - Extension of maturity date of loans to Telecredit

Reconstruction Capital IIAnnouncement

14/11/2022 17:00

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RNS Number : 3593G  Reconstruction Capital II Ltd  14 November 2022

14 November 2022

 

Reconstruction Capital II Limited

 

Extension of the maturity date of loans to Telecredit IFN S.A.

 

Reconstruction Capital II Limited (the "Company") announces that the following
parties have entered into agreements to provide unsecured loans to Telecredit
IFN S.A. ("Telecredit") (the "Connected Loans"), extending existing loans that
were announced on 16 November 2021 and 22 December 2021:

 

 Lender                                                                        Amount      Loan Term
 Ion Florescu - a substantial shareholder in the Company                       €250,000    23 December 2022 - 22 March 2024
                                                                               €100,000    17 November 2022 - 16 February 2024
 Cornelia Oancea - CEO of New Europe Capital SRL and a director of Telecredit  €100,000    17 November 2022 - 16 February 2024

 

Interest on the Connected Loans will accrue at 9.2%.  The loans will be used
to support the working capital requirements of Telecredit related to its SMEs
factoring and discounting operations.

 

The terms of the Connected Loans constitute a related party transaction
pursuant to Rule 13 of the AIM Rules for Companies. The independent directors
of the Company (other than Zoran Melovski being a director of Portadrix
Investments Limited, the majority shareholder of New Europe Capital SRL),
having consulted with the Company's nominated adviser, Grant Thornton UK LLP,
consider that the terms of the Loan are fair and reasonable insofar as the
Company's shareholders are concerned.

 

For further information, please contact:

 

Reconstruction Capital II Limited

Cornelia Oancea / Luca-Cristian Nicolae

Tel: +40 21 3167680

 

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / George Grainger / Samuel Littler

Tel: +44 (0) 20 7383 5100

 

 

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