R.E.A. Holdings plc: Further re sale of PBJ (719525)

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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