Last checked at 6 Oct 2015 16:30
R.E.A. Holdings plc ("REA" or the "company")
Placing of ordinary shares
The company announced on 2 October 2015 that, pursuant to a proposed placing of 1,754,260 new ordinary shares of 25p each of the company (the "new ordinary shares") at a subscription price of 260p per share (the "placing price"), a total of 1,288,840 new ordinary shares had been placed firm by Mirabaud Securities LLP at the placing price (the "institutional placing").
At the same time, the company announced that REA had agreed with Emba Holdings Limited ("Emba"), a company connected with Mr R Robinow, chairman of REA and a substantial shareholder of REA, that, subject to compliance with the relevant regulatory requirements applicable to smaller related party transactions, Emba would participate in the proposed placing, which participation would entail REA issuing to Emba a further 465,420 new ordinary shares (the "related party placing").
The company now announces certain amendments to the above arrangements. First, the institutional placing has been increased to 1,295,600 new ordinary shares. Secondly, direct applications to subscribe a further 104,740 new ordinary shares have been accepted at the placing price payable in full on allotment (the "further subscription").
Accordingly, having complied with the relevant regulatory requirements applicable to smaller related party transactions, the company will be issuing new ordinary shares to Emba in the adjusted amount of 353,920 (the "adjusted related party placing") and to the further subscribers in the amount of 104,740, in each case at the placing price payable in full on allotment.
The institutional placing, the further subscription and the adjusted related party placing, comprising in aggregate 1,754,260 new ordinary shares, remain conditional upon admission of the new ordinary shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities. It is expected that admission, for which the company will make application, will become effective and that dealings in the new ordinary shares will commence at 8.00 am on 15 October 2015.
Enquiries:
R.E.A Holdings plc
Tel: 020 7436 7877
Mirabaud Securities LLP
Tel: 020 7878 3360