R.E.A. Holdings plc: Placing of preference shares

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 R.E.A. Holdings plc (RE.) 
R.E.A. Holdings plc: Placing of preference shares 
 
09-Oct-2017 / 09:48 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") 
 
Placing of new 9 per cent cumulative preference shares and purchase of 
sterling notes 
 
In the company's half yearly report 2017 published in September 2017, the 
directors stated that, to the extent that markets permitted, they would seek 
to refinance a proportion of the GBP8.3 million nominal of 9.5 per cent 
guaranteed sterling notes 2015/17 issued by the subsidiary company, REA 
Finance N.V. ("REAF") and falling due for redemption on 31 December 2017 
("2017 sterling notes"), by placing additions to existing issues of fixed 
interest securities. 
 
REA announces that Guy Butler Limited ("Guy Butler") has today placed firm 
for cash 8,358,768 new 9 per cent cumulative preference shares of GBP1 each 
(the "new preference shares") at a price per share of GBP1 plus accrued 
dividend up to the date of settlement. 
 
At the same time, the company has today purchased through Guy Butler 
GBP248,000 nominal of 2017 sterling notes at 100 per cent of their principal 
amount, together with accrued interest up to and including the date of 
settlement. 
 
The date of settlement for the placing of the new preference shares and the 
purchase of 2017 sterling notes is expected to be 16 October 2017. 
 
The new preference shares are fungible with, and amount to 13.1 per cent of, 
the existing preference shares already admitted to trading. In accordance 
with the Prospectus Rules issued by the Financial Conduct Authority in 
compliance with relevant European law, no prospectus is required to be 
published, and it should be noted that the company is not publishing a 
prospectus, in connection with the placing of new preference shares. 
 
The placing remains conditional only upon the new preference shares being 
admitted to the standard listing segment of the Official List and to trading 
on the London Stock Exchange's main market for listed securities. 
Application for admission is being made and it is expected that admission 
will become effective, and that dealings in the new preference shares will 
commence, on 16 October 2017. 
 
The preference shares entitle the holders to be paid out of the profits of 
the company available for dividend and resolved to be distributed, in 
priority to the payment of any dividend to the holders of any other class of 
shares in the capital of the company, a fixed cumulative preferential 
dividend of 9 per cent per annum on the nominal amount paid up on such 
preference shares payable half-yearly in equal amounts on 30 June and 31 
December. The preference shares are not redeemable. 
 
The new preference shares will, upon issue, rank pari passu in all respects 
with the preference shares already in issue, including as regards payment of 
the preferential dividend due for payment in respect of the six month period 
to 31 December 2017. 
 
As a result of the issue of new preference shares, REA's issued share 
capital will comprise 40,509,529 ordinary shares of 25p each and 72,000,000 
9 per cent cumulative preference shares of GBP1 each. The number of votes that 
may ordinarily be cast on a poll at a general meeting of REA and that attach 
to the issued ordinary shares is 40,509,529 (of which 132,500 are currently 
held as treasury shares) and to the issued preference shares is nil. 
 
The above figures may be used by REA shareholders for the calculations by 
which they determine whether they are required to notify their interest in, 
or change of interest in, shares of REA, under the Financial Conduct 
Authority's Disclosure and Transparency Rules. 
 
Enquiries: 
 
R.E.A. Holdings plc 
 
Tel: [phone] 
 
ISIN:          GB0002349065 
Category Code: MSCH 
TIDM:          RE. 
LEI Code:      213800YXL94R94RYG150 
Sequence No.:  4712 
 
End of Announcement EQS News Service 
 
616867 09-Oct-2017 
 
 

(END) Dow Jones Newswires

October 09, 2017 04:50 ET (08:50 GMT)