R.E.A. Holdings plc: Further re circular dated 12 June 2018 (718225)

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 R.E.A. Holdings plc (RE.) 
R.E.A. Holdings plc: Further re circular dated 12 June 2018 
 
28-Aug-2018 / 16:25 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
R.E.A. Holdings plc ("REA" or the "company") 
 
Further re circular dated 12 June 2018 
 
REA is pleased to announce that certain bank financing discussions referred 
to in the circular issued to shareholders on 12 June 2018 (the "circular") 
have now been brought to a successful conclusion with execution of a 
facility agreement between the company's Indonesian subsidiary company, PT 
Sasana Yudha Bhakti ("SYB"), and PT Bank Mandiri (Persero) Tbk. ("Bank 
Mandiri"). 
 
Pursuant to the facility agreement, Bank Mandiri has advanced to SYB two 
medium term Indonesian rupiah loans equivalent in total to some $32.5 
million. The loans are repayable over a period of eight years, bear interest 
at an initial rate of 11 per cent per annum and are principally secured by 
first fixed charges over the assets of SYB and a guarantee from REA. 
 
In anticipation of concluding the facility agreement with Bank Mandiri, on 8 
August 2018 SYB repaid the term loan and revolving credit facilities 
previously made available to SYB by PT Bank DBS Indonesia, together 
amounting to the equivalent of some $10.2 million. The proceeds of the Bank 
Mandiri loans will be used to refinance the monies used for that repayment 
and, as to the balance, in augmenting the REA group's working capital. 
 
The principal purpose of the circular was to provide information in 
connection with the proposed sale by the company's subsidiary, PT REA Kaltim 
Plantations ("REA Kaltim") of REA Kaltim's 95 per cent interest in PT Putra 
Bongan Jaya ("PBJ") to Kuala Lumpur Kepong Berhad (the "proposed sale"). 
 
It remains expected that the proposed sale of PBJ will complete in 
accordance with the previously indicated timetable. The company will issue a 
further update when completion occurs. 
 
Enquiries 
 
R.E.A. Holdings plc 
 
Tel: [phone] 
 
ISIN:          GB0002349065 
Category Code: FUR - Further re circular dated 12 June 2018 
TIDM:          RE. 
Sequence No.:  5928 
EQS News ID:   718225 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 28, 2018 11:26 ET (15:26 GMT)