R.E.A. Trading plc (.)
19-Jul-2021 / 15:00 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. Trading plc ("REAT" or the "company")
Proposed issue by REAT of £4 million nominal of 9.5 per cent sterling notes 2024
REAT proposes to issue £4 million nominal of 9.5 per cent sterling notes ("Notes") by way of a placing at par with professional investors. The placing is being arranged on the company's behalf by the company's brokers, Guy Butler Limited.
The net proceeds of the placing, estimated at £3,800,000 on the assumption that all of the £4,000,000 nominal of the Notes are successfully placed with third parties, will be progressively applied in funding the continued development of the REAT group's abaca project in Indonesia. Pending application for this purpose, the net proceeds will be used to augment the group's working capital.
Interest on the Notes will be payable half yearly in arrear on 30 June and 31 December in each year. The first payment of interest will be on 31 December 2021 in respect of the period from the date of issue of the Notes to 31 December 2021.
The obligations of the company in respect of the new loan notes are primary obligations of the company. Such obligations will not be secured by the company or any other person, and will not be guaranteed by any other person. The obligations will not be subordinated to any other present or future unsecured obligations of the company, save to the extent provided by law.
Application will be made to the London Stock Exchange for the Notes to be admitted to trading on the International Securities Market of the London Stock Exchange.
It is expected that dealings in the Notes issued pursuant to the placing will commence on or about 4 August 2021.
Admission particulars relating to the proposed issue, together with a final draft of the loan note instrument to constitute the Notes, are available for review on, and downloading from, the company's website at www.reatrading.co.uk.
R.E.A Trading plc
Tel: 020 7436 7877