R.E.A. Holdings plc: Further investment by DSN in REA Kaltim
The DSN subscription will increase the investment of the DSN group in the share capital of REA Kaltim from 15 per cent to 35 per cent.
- The DSN subscription will increase the investment of the DSN group in the share capital of REA Kaltim from 15 per cent to 35 per cent.
- The DSN group's current investment in REA Kaltim is held through AP (which currently holds 5 per cent of the current issued share capital of REA Kaltim) and a sister company to AP, PT Swakarsa Sinarsentosa ("SWA") (which holds 10 per cent of the current issued share capital of REA Kaltim).
- The pre-closing loan will facilitate satisfaction of conditions to the DSN subscription, including the intended rationalisation of subsidiaries of REA Kaltim as described below.
- The balance of the debt owed by REA Kaltim to CDM will be funded from the proceeds of the DSN subscription.