R.E.A. Holdings plc: Further re sale of PBJ (719525)
31 August 2018 - 8:13PM
UK Regulatory
Dow Jones received a payment from EQS/DGAP to publish this press
release.
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc: Further re sale of PBJ
31-Aug-2018 / 11:12 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")
Further re sale of PBJ
REA is pleased to announce that the sale by the company's subsidiary, PT REA
Kaltim Plantations ("REA Kaltim"), of REA Kaltim's 95 per cent interest in
PT Putra Bongan Jaya ("PBJ") to Taiko Plantations Pte Ltd, a wholly owned
subsidiary of Kuala Lumpur Kepong Berhad group ("KLK") incorporated in
Singapore, was completed on 31 August 2018. Details of the proposed sale
were set out in the circular to shareholders dated 12 June 2018.
The purchase consideration has been settled on an estimated basis and is
subject to adjustment in due course following the agreement or determination
of certain figures as at the date of completion. The bank debt and the net
intra-group debt owed by PBJ have also been settled in full.
Pursuant to the agreed terms of the sale, the purchase consideration is
subject to reduction if the additional area of oil palms planted at PBJ
during 2018 ahead of completion falls short of 520 hectares. Such additional
area remains subject to final survey but the company estimates that it is in
excess of 520 hectares.
The company expects to release its 2018 half yearly report on or around 21
September 2018.
Enquiries
R.E.A. Holdings plc
Tel: 020 7436 7877
ISIN: GB0002349065
Category Code: FUR - .
TIDM: RE.
LEI Code: 213800YXL94R94RYG150
Sequence No.: 5944
EQS News ID: 719525
End of Announcement EQS News Service
(END) Dow Jones Newswires
August 31, 2018 06:13 ET (10:13 GMT)
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