R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: proposed issue of $3 million nominal of 7.5 per cent
dollar notes 2022
25-Sep-2019 / 11:34 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.
R.E.A. Holdings plc ("REAH" or the "company")
Proposed issue by REAH of $3 million nominal of 7.5 per cent dollar notes
2022
As stated in the company's half yearly report published on 20 September
2019, an agreement has been reached with a customer of the group pursuant to
which the customer will enter into an advance supply arrangement for the
purchase by the customer of CPO from the group. In connection with such
arrangement, it has been agreed that the customer should subscribe $3
million of new 7.5 per cent dollar notes 2022 of the company (the "dollar
notes").
Accordingly, the company proposes today to issue $3 million nominal of new
dollar notes by way of a placing and the customer will subscribe such notes
for $3 million in cash, plus an amount equal to the interest accrued on the
existing issued dollar notes in respect of the period from 1 July 2019 to
the date of issue of the new dollar notes. The subscription monies for the
new dollar notes, which are payable in full on allotment, reflect the value
of the new dollar notes, the value of the CPO supply arrangements agreed by
the group and an agreement by the company to repurchase the new dollar notes
up to an amount equal to the balance of the dollar notes then held by the
customer should the supply arrangements terminate before 30 June 2022
(being, the redemption date of the dollar notes).
The new dollar notes will rank pari passu with the US$24,035,218 original
dollar notes currently in issue. Interest on the new dollar notes is payable
semi-annually in arrears on 30 June and 31 December in each year, commencing
on 31 December 201 9.
It is expected that dealings in the fully paid new dollar notes issued
pursuant to the placing will commence on or about 30 September 2019.
Application has been made to the Financial Conduct Authority under Part VI
of the Financial Services and Markets Act 2000 for the new dollar notes to
be admitted to the Official List of the UK Listing Authority and to the
London Stock Exchange plc for such notes to be admitted to trading on the
Regulated Market of the London Stock Exchange plc. The proposed issue is
conditional upon the admission of the new dollar notes allotted pursuant to
the placing to the Official List and to trading on the Regulated Market of
the London Stock Exchange.
Enquiries:
R.E.A Holdings plc
Tel: 020 7436 7877
ISIN: GB0002349065
Category Code: IOD
TIDM: RE.
LEI Code: 213800YXL94R94RYG150
Sequence No.: 21267
EQS News ID: 879661
End of Announcement EQS News Service
(END) Dow Jones Newswires
September 25, 2019 06:34 ET (10:34 GMT)
