Last checked at 2 Sep 2015 12:59
R.E.A. Holdings plc ("REAH" or the "company")
REA Finance BV ("REA Finance")
Proposed issue by REA Finance of up to £40 million nominal of 8.75 per cent guaranteed sterling notes 2020
Further to announcements made on 3 August 2015, 26 August 2015 and 27 August 2015 in connection with a proposed issue by REA Finance of up to £40 million nominal of 8.75 per cent guaranteed sterling notes 2020 ("new sterling notes"), by way of an exchange offer under which the company has offered to acquire all of the £34.54 million nominal of outstanding 9.5 per cent sterling notes 2015/2017 of REA Finance ("existing sterling notes") and a placing of up to £5.46 million nominal of new sterling notes, REA Finance announces today that it has received acceptances under the exchange offer in respect of £26,216,000 nominal of existing sterling notes and that £336,000 nominal of new sterling notes have been placed firm by Guy Butler on behalf of the company at 100 per cent of their principal amount.
Accordingly, REA Finance is now issuing new sterling notes in an aggregate amount of £26,552,000 nominal (the "tranche 1 new sterling notes"), subject only to the admission of the £26,552,000 nominal new sterling notes to the Official List and to trading on the London Stock Exchange's market for listed securities. It is expected that admission will become effective and that dealings in the new sterling notes will commence on 3 September 2015. All conditions of the issue other than admission have been satisfied
Supplementary prospectus and further placing
The company further announces that REA Finance is today publishing a supplementary prospectus (the "supplementary prospectus") in respect of the proposed issue.
The purpose of the supplementary prospectus is to permit further placing of new sterling notes (the "extended placing") until midday (BST) on 4 September 2015.
New sterling notes issued pursuant to the extended placing will be issued as a second tranche of new sterling notes (the "tranche 2 new sterling notes"), in an aggregate nominal amount not exceeding £5,124,000, to be consolidated and form a single series with the tranche 1 new sterling notes. REA Finance will announce the results of the extended placing on or about 7 September 2015 and the tranche 2 new sterling notes are expected to be admitted to the Official List and to trading on the Regulated Market of the London Stock Exchange on or about 9 September 2015.
The nominal amount of tranche 2 new sterling notes to be issued pursuant to the extended placing will, when aggregated with the £336,000 nominal amount of the tranche 1 new sterling notes already placed, not exceed the limit of £5,460,000 in nominal amount as stated in the prospectus and the aggregate nominal amount of existing sterling notes and new sterling notes on completion of the extended placing will not exceed £40,000,000.
A copy of the supplementary prospectus has been filed with the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/nsm. Copies of the supplementary prospectus may be obtained (without charge) from the website of the Regulatory News Service operated by the London Stock Exchange at www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-home.html and the website of the company at www.rea.co.uk.
The supplementary prospectus is supplemental to, and should be read and construed together with, the prospectus.
Save as disclosed in the supplementary prospectus, no other significant new factor, material mistake or inaccuracy relating to information included in the prospectus has arisen or been noted, as the case may be, since the publication of the prospectus.
http://www.rns-pdf.londonstockexchange.com/rns/8665X_-2015-9-2.pdf
Enquiries:
R.E.A. Holdings plc
Tel: 020 7436 7877