Reconstruction Capital II Ltd Extension of maturity date of loans to Telecredit (3593G)
November 14 2022 - 11:59AM
UK Regulatory
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
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