DJ R.E.A. Holdings plc: Further re further investment by DSN in REA Kaltim
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: Further re further investment by DSN in REA Kaltim
29-Feb-2024 / 07:00 GMT/BST
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R.E.A. Holdings plc ("REA" or the "company")
Closing of subscription agreement with PT Dharma Nusantara Satya ("DSN")
Dividend in respect of 9 per cent cumulative preference shares (the "preference shares")
As detailed in the company's circular to shareholders, dated 25 January 2024, the company has entered into a share
subscription agreement with DSN pursuant to which it has been agreed, inter alia, that a subsidiary of DSN will
subscribe for additional shares in the company's principal operating subsidiary, PT REA Kaltim Plantations ("REA
Kaltim"), so as to increase DSN's interest in REA Kaltim from 15 per cent to 35 per cent (the "DSN share subscription"
).
Following the previously announced approval of the share subscription agreement at the REA general meeting held on 12
February 2024, REA is now pleased to announce that all conditions of the DSN share subscription have been satisfied.
Closing is expected to take place on 8 March 2024 with the immediate financial settlements due on closing expected to
be completed by 15 March 2024.
Upon full settlement of the immediate amounts due on closing, the directors intend to declare a dividend in respect of
all of the outstanding arrears of dividends on the preference shares (amounting in aggregate to 11.5p per preference
share) for payment on a date to be determined in accordance with the London Stock Exchange's dividend procedure
timetable. Accordingly, payment of the preference dividend may be expected to be made by 15 April 2024.
Enquiries:
R.E.A. Holdings plc
Tel: 020 7436 7877
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Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse
Regulation (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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ISIN: GB0002349065
Category Code: FUR - -
TIDM: RE.
LEI Code: 213800YXL94R94RYG150
Sequence No.: 306654
EQS News ID: 1847687
End of Announcement EQS News Service
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(END) Dow Jones Newswires
February 29, 2024 02:00 ET (07:00 GMT)
