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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Reconstruction Capital Ii Limited | LSE:RC2 | London | Ordinary Share | KYG741521028 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.035 | 0.025 | 0.045 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trusts | -2.1M | -2.94M | -0.0217 | -1.38 | 4.07M |
TIDMRC2
RNS Number : 3593G
Reconstruction Capital II Ltd
14 November 2022
14 November 2022
Reconstruction Capital II Limited
Extension of the maturity date of loans to Telecredit IFN S.A.
Reconstruction Capital II Limited (the "Company") announces that the following parties have entered into agreements to provide unsecured loans to Telecredit IFN S.A. ("Telecredit") (the "Connected Loans"), extending existing loans that were announced on 16 November 2021 and 22 December 2021:
Lender Amount Loan Term Ion Florescu - a substantial EUR250,000 23 December 2022 - 22 March 2024 shareholder in the Company ----------- --------------------------------- EUR100,000 17 November 2022 - 16 February 2024 ----------- --------------------------------- Cornelia Oancea - CEO of New EUR100,000 17 November 2022 - 16 February Europe Capital SRL and a director 2024 of Telecredit ----------- ---------------------------------
Interest on the Connected Loans will accrue at 9.2%. The loans will be used to support the working capital requirements of Telecredit related to its SMEs factoring and discounting operations.
The terms of the Connected Loans constitute a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The independent directors of the Company (other than Zoran Melovski being a director of Portadrix Investments Limited, the majority shareholder of New Europe Capital SRL), having consulted with the Company's nominated adviser, Grant Thornton UK LLP, consider that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned.
For further information, please contact:
Reconstruction Capital II Limited
Cornelia Oancea / Luca-Cristian Nicolae
Tel: +40 21 3167680
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / George Grainger / Samuel Littler
Tel: +44 (0) 20 7383 5100
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(END) Dow Jones Newswires
November 14, 2022 11:59 ET (16:59 GMT)
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