Last checked at 27 Aug 2015 13:01
R.E.A. Holdings plc ("REAH" or the "company")
REA Finance BV ("REA Finance")
Results of a meeting regarding a proposed issue by REA Finance of up to £40 million nominal of 8.75 per cent guaranteed sterling notes 2020
It was announced on 3 August 2015 that REA Finance, a wholly owned subsidiary of REAH, had convened a meeting of holders of the 9.5 per cent guaranteed sterling notes 2015/2017 issued by REA Finance (the "existing sterling notes") to consider and, if thought fit, approve a resolution (the "proposed resolution") in connection with the proposed creation by REA Finance of up to £40 million nominal of 8.75 per cent guaranteed sterling notes 2020 ("new sterling notes"), to be issued pursuant to an exchange offer for the existing sterling notes and a cash placing.
It was further announced on 26 August 2105 that a supplementary prospectus in connection with the proposed issue was being published to incorporate by reference the company's 2015 half yearly report also published on 26 August 2015.
At the meeting of holders of the existing sterling notes convened earlier today, the proposed resolution was duly carried on a show of hands.
Conditions
The exchange offer remains conditional upon acceptances being received by not later than 11.00 a.m. on 1 September 2015 (or such later time(s) and/or date(s) as REA Finance may decide, being not later than 11.00 a.m. on 18 December 2015) in respect of not less than £10,000,000 nominal amount of existing sterling notes or such lesser amount as REA Finance may decide, provided that this condition will not be satisfied unless REA Finance will have in issue, at the time that the exchange offer becomes unconditional, at least £10,000,000 nominal amount of new sterling notes (whether issued pursuant to the exchange offer or the exchange offer in conjunction with the placing).
The placing remains conditional upon there being in issue, at the time that the placing becomes unconditional, at least £10 million nominal of new sterling notes (including those issued pursuant to the offer).
Both the exchange offer and placing remain conditional upon admission of the new sterling notes allotted pursuant to the exchange offer and the placing to the Official List and to trading on the Regulated Market of the London Stock Exchange, such admissions becoming effective on or before 8.00 a.m. on 3 September 2015 (or such later time and/or date as REA Finance may decide, being not later than 5.00 p.m. on 21 December 2015).
Both the exchange offer and the placing also remain conditional upon the execution of all documentation necessary to create and constitute the new sterling notes and to effect amendments to the trust deed constituting the existing sterling notes.
Enquiries:
R.E.A Holdings plc
Tel: 020 7436 7877