REG - Reconstruction CapII - Loans to Telecredit IFN S.A.

Reconstruction Capital IIAnnouncement

23/06/2023 17:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230623:nRSW7941Da&default-theme=true

RNS Number : 7941D  Reconstruction Capital II Ltd  23 June 2023

23 June 2023

 

Reconstruction Capital II Limited

 

Loans to Telecredit IFN S.A.

 

Reconstruction Capital II Limited (the "Company") announces that the following
parties have entered into agreements to provide a total of €400,000 in
unsecured loans to Telecredit IFN S.A. ("Telecredit"):  Ion Florescu (a
substantial shareholder in the Company) €150,000, and Cornelia Oancea (an
officer of New Europe Capital SRL, Adviser to the Company) €100,000 (the
"Connected Loans"), in addition to €150,000 from a third party (the
"Loans").

 

The Loans mature in June 2024 and carry an annual interest rate of 8% and were
granted to support the working capital requirements of Telecredit related to
its SME factoring and discounting operations.

 

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 connected to Ion Florescu), having
consulted with the Company's nominated adviser, Grant Thornton UK LLP,
consider that the terms of the Connected Loans are fair and reasonable insofar
as the Company's shareholders are concerned.

 

 

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

Tel: +44 (0) 20 7383 5100

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IODPPUBAQUPWGAW