RNS Number : 8488B
REA Finance B.V.
21 August 2008
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
This information is provided by RNS
The company news service from the London Stock Exchange
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