Business
Placing of preference shares
Placing of preference shares.
About this update from R.e.a. Holdings Plc
[{"type":"text","content":"\n \nR.E.A. Holdings plc (RE.)R.E.A. Holdings plc: Placing of preference shares09-Oct-2017 / 09:48 GMT/BSTDissemination 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.\n\nR.E.A. Holdings plc (\"REA\" or the \"company\")\n\n \n\nPlacing of new 9 per cent cumulative preference shares and purchase of sterling notes\n\n \n\nIn 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 £8.3 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.\n\n \n\nREA announces that Guy Butler Limited (\"Guy Butler\") has today placed firm for cash 8,358,768 new 9 per cent cumulative preference shares of £1 each (the \"new preference shares\") at a price per share of £1 plus accrued dividend up to the date of settlement.\n\n \n\nAt the same time, the company has today purchased through Guy Butler £248,000 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. \n\n \n\nThe 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.\n\n \n\nThe 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. \n\n \n\nThe 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...