DJ Amendments to loan facilities
Arricano Real Estate Plc (ARO)
Amendments to loan facilities
10-Sep-2020 / 07:00 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.
This announcement contains inside information for the purposes of Article 7
of EU Regulation 596/2014.
10 September 2020
Arricano Real Estate Plc
("Arricano" or the "Group")
Amendments to loan facilities
The Board of Arricano (AIM: ARO) is pleased to announce that it yesterday
secured agreement to (i) repayment extensions (ii) coupon amendments and
(iii) the capitalisation of accrued interest in respect of the following
loan facility and deferred consideration agreements:
Lender Original Original New Previous New Previous New
agreemen and fac coupon coupon repayment repayment
t current ili pa pa date date
amount ty
includin siz
g e
capitali (US
sed D)
interest
(USD)
Retail Real Loan Initial 28, 12% 10.50% 30/06/2020 USD
Estate OU agreemen loan, 292 6,872,394,
("RRE") t, 18,000,0 ,77 01/08/2021
29/05/20 00 9 Remaining
14 As at balance,
31/07/20 01/08/2023
,
28,292,7
79
RRE Loan Initial 3,1 10.50% 10.50% 23/09/2019 01/08/2021
agreemen loan, 27,
t, 10,000,0 606
18/09/20 00
14 As at
31/07/20
,
3,127,60
6
Vunderbuilt Share Initial 31, 9.75% 10.50% 30/06/2020 01/08/2023
S.A. exchange deferred 305
agreemen consider ,24
t ation, 9
,05/09/2 20,000,0
013 00
As at
31/07/20
,
31,305,2
49
Vunderbuilt Loan Initial 24, 9.55% 10.50% 31/07/2020 01/08/2023
S.A. agreemen loan, 545
t, 15,300,0 ,02
05/07/20 00 7
13 As at
31/07/20
,
24,545,0
26
In addition, each provider of finance agreed to capitalise any future unpaid
interest.
The amendments to the loan agreements with RRE, which is interested in 55.04
per cent of the Company's issued share capital, represent related party
transactions in accordance with AIM Rule 13. The Directors consider, having
consulted with the Company's nominated adviser, that the amendments are fair
and reasonable insofar as shareholders are concerned.
For further information, please contact:
Arricano Real Estate plc
Tel: +357 25 582 535
Ganna Chubotina
Nominated Adviser and Broker:
WH Ireland Limited Chris Fielding Tel: +44 (0)20 7220 1666
Financial PR:
Novella Communications Limited Tim Robertson/ Fergus Young
Tel: +44 (0)20 3151 7008
ISIN: CY0102941610
Category Code: MSCM
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 83805
EQS News ID: 1129359
End of Announcement EQS News Service
(END) Dow Jones Newswires
September 10, 2020 02:00 ET (06:00 GMT)
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