REG - Reconstruction CapII - Loan Facility

Reconstruction Capital IIAnnouncement

15/12/2022 09:00

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RNS Number : 8335J  Reconstruction Capital II Ltd  15 December 2022

15  December 2022

 

Reconstruction Capital II Limited

 

Loan Facility

 

Reconstruction Capital II Limited (the "Company") announces that it has
entered into a €800,000 unsecured loan facility with Ion Florescu, a
substantial shareholder in the Company (the "Facility").

 

The Facility is necessary to support the working capital requirements of the
Company, since the ability of Policolor, its main investee company, to pay
dividends has been negatively affected by worsening trading conditions since
the outbreak of the war in Ukraine.

 

The Facility will carry an interest rate of 8% on all amounts drawn down by
the Company, and the loan term is twenty-four months. There is no arrangement
fee and no early repayment fee.  The Company can draw down under the Facility
at any time prior to 31(st) December 2023.

 

By virtue of the direct and indirect shareholdings held by Ion Florescu in the
Company, the Facility constitutes a related party transaction pursuant to Rule
13 of the AIM Rules for Companies.  The directors of the Company (other than
Zoran Melovski who is also a director of Portadrix Limited, a company
affiliated to Ion Florescu), having consulted with the Company's nominated
adviser, Grant Thornton UK LLP, consider that the terms of the Facility are
fair and reasonable insofar as the Company's shareholders are concerned.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

For further information, please contact:

 

Reconstruction Capital II Limited

Cornelia Oancea/Luca 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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