Loan to Klas (7692P)
07 October 2011 - 7:08PM
UK Regulatory
TIDMRC2
RNS Number : 7692P
Reconstruction Capital II Ltd
07 October 2011
Reconstruction Capital II Limited
("RC2" or the "Company")
7 October 2011
Loan to Klas d.o.o. ("Klas")
In order to help fund Klas's investment commitments to the
Serbian Privatization Agency, RC2 has made a short term loan of EUR
0.95million to Klas, which in turn has been financed by a
EUR0.95million unsecured bridging loan to RC2 from certain of its
directors (the "Loan"). The Loan has a 1% arrangement fee and an
annual interest rate of 8% if the loan is repaid within six months,
9% if the loan is repaid within nine months, and 10% if the loan is
repaid within twelve months. The Loan is necessary because RC2 is
fully invested and is currently selling down its investments held
under the Trading Programme to meet its own working capital
needs.
The Loan constitutes a Related Party transaction under AIM Rule
13. The independent director of RC2 who did not participate in the
provision of the Loan considers, having consulted with its
Nominated Adviser, that the terms of the Loan to be fair and
reasonable in so far as its shareholders are concerned.
For further information, please contact:
Reconstruction Capital II Limited
Ion Florescu / Anca Moraru
Tel: +44 (0) 207 244 0088/ +40 21 3167680
Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett / David Hignell
Tel: +44 (0) 20 7383 5100
LCF Edmond de Rothschild Securities (Broker)
Hiroshi Funaki
Tel: +44 (0) 20 7845 5960
This information is provided by RNS
The company news service from the London Stock Exchange
END
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