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21 Aug 2008 17:23
Proposed issue of further 9.5 per cent guaranteed sterling notes 2015/2017 by R.E.A. Finance B.V. ("REAF"), a wholly owned subsidiary of R.E.A. Holdings plc ("REAH")
It was announced on 29 July 2008 that REAF was proposing to create £28,000,000 nominal of further notes ("further notes") ranking pari passu with and forming a single series with the £22,000,000 nominal of 9.5 per cent guaranteed sterling notes 2015/17 of the issuer that are already in issue (the "original notes") with a view to issuing an initial tranche of up to £15,000,000 nominal of the further notes for cash at 99.8682 per cent of par and having the balance available for issue pursuant to an offering programme.
It was also announced that, in connection with the proposed creation and issue of the further notes, REAF had convened a meeting of holders of the original notes to consider a resolution (the "noteholder resolution") to approve certain proposed amendments to, and re-statement of, the trust deed constituting the original notes (as amended) and certain proposed amendments to the terms of a loan agreement between REAF, PT REA Kaltim Plantations and REAH relating to loans that form the principal security for the original notes.
The convened meeting of noteholders was held today and the noteholder resolution was duly passed. As a result, all conditions precedent to the creation of further notes have now been satisfied. The whole of the proposed initial tranche of £15,000,000 nominal of further notes has been placed firm and has now been allotted subject only to admission to the Official List and to trading on the Regulated Market of the London Stock Exchange plc becoming effective. It is expected that this will occur, and that dealings in the £15,000,000 nominal of further notes will commence, tomorrow, Friday, 22 August 2008.
Copies of the noteholder resolution are being submitted to, and will be available for inspection at, the UK Listing Authority's Document Viewing Facility at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Telephone: (0) 20 7676 1000
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