R.E.A. Holdings plc Announces the Completion of DSN Share Subscription in REA Kaltim

R.E.A. Holdings plc ("REA") disclosed further development in its partnership with PT Dharma Nusantara Satya ("DSN"), following a share subscription agreement aimed at increasing DSN's stake in REA's primary operating subsidiary, PT REA Kaltim Plantations ("REA Kaltim"). Initially revealed to shareholders on 25 January 2024, this agreement has successfully closed, marking a significant expansion of DSN's involvement in REA Kaltim. The agreement results in the upliftment of DSN group's interest in REA Kaltim from 15 per cent to 35 per cent.

The company had previously announced on 29 February 2024 that all conditions relating to the DSN share subscription were satisfactorily met. With the closing now finalized, REA confirms that all immediate financial obligations connected with the closing have been fulfilled. This strategic investment by DSN in REA Kaltim is anticipated to bolster the operational and financial foundation of REA's principal operating subsidiary.