Loans to Telecredit IFN S.A.

RNS Number : 5239W
Reconstruction Capital II Ltd
22 December 2021
 

22 November 2021

 

Reconstruction Capital II Limited

 

Loan to Telecredit IFN S.A.

 

Reconstruction Capital II Limited (the "Company") announces that Ion Florescu (a significant shareholder in the Company) has entered into an agreement to provide a total of €250,000 in unsecured loans to Telecredit IFN S.A. ("Telecredit") (the "Loan").

 

The Loan matures in December 2022 and carries an annual interest rate of 8% and was granted to support the working capital requirements of Telecredit related to its SMEs 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 / Anca Moraru

Tel: +40 21 3167680

 

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / George Grainger

Tel: +44 (0) 20 7383 5100

 

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