RNS Number : 0270O
Reconstruction Capital II Ltd
28 September 2023
 

28 September 2023

 

Reconstruction Capital II Limited

 

Loan to Telecredit IFN S.A.

 

Reconstruction Capital II Limited (the "Company") announces that Ion Florescu (a substantial shareholder in the Company) has entered into an agreement to provide a total of €500,000 in unsecured loans to Telecredit IFN S.A. ("Telecredit") (the "Loan").

 

The Loan matures in September 2024 and carries an annual interest rate of 8% and was granted to support the working capital requirements of Telecredit related to its SME factoring and discounting operations.

 

The Loan constitutes 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 connected to Ion Florescu), 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 Nicolae

Tel: +40 21 3167680

 

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / Samuel Littler

Tel: +44 (0) 20 7383 5100

 

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