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.
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 GBP30,852,000 nominal of the sterling notes were
eligible to vote at the general meeting, with each GBP1,000 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 Votes Votes
(including Discretion Against Withheld
Chairman's Third
discretion) Party
Extraordinary
resolution to
sanction the
proposed extension
to the repayment 20,320,000 0 1,600,000 4,875,000
date for the
sterling notes
from 31 August
2020 to 31 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 GBP1.26 per new ordinary
share.
Enquiries:
R.E.A Holdings plc
Tel: 020 7436 7877
ISIN: GB0002349065
Category Code: ROM
TIDM: RE.
LEI Code: 213800YXL94R94RYG150
Sequence No.: 55608
EQS News ID: 1011585
End of Announcement EQS News Service
(END) Dow Jones Newswires
March 31, 2020 07:07 ET (11:07 GMT)
