In order to comply with Article 4 paragraph (1) of Financial Services Authority Regulation No. 9/POJK.04/2018 on Takeovers of Public Companies (“POJK 9/2018”), we, PT Petrindo Jaya Kreasi Tbk (IDX Ticker: “CUAN”), hereby inform the negotiation in connection to the proposed acquisition (“Proposed Acquisition”) of PT Singaraja Putra Tbk (IDX Ticker: “SINI”).
As of the date of this announcement, CUAN (through its subsidiary namely PT Kreasi Jasa Persada and its affiliates) indirectly holds 19.99% of the issued and paid-up capital of SINI and is currently engaged in negotiations with the controlling shareholders of SINI, to discuss, among other things, arrangements regarding the mechanism, the estimated number of shares, the price and the anticipated completion timeline for the Proposed Acquisition. Subject to the outcome of discussions including the execution of definitive agreements and satisfaction of all the required conditions and approvals, it is expected that upon completion of the Proposed Acquisition, then CUAN and/or its affiliates will hold at least 51% (fifty one percent) of the total shares that have been and/or will be issued by SINI, and will obtain control over the management of SINI.
As required under POJK 9/2018, CUAN, as the new prospective controller of SINI will, or appoint any controlled company by CUAN to, carry out a mandatory tender offer after the Proposed Acquisition has been completed, with due observance of of POJK 9/2018.
The information of CUAN as the new prospective controller of SINI is as follows:
PT Petrindo Jaya Kreasi Tbk
Alamat / Address : Wisma Barito Pacific Tower B, Lt.3 Tower B, Jl. Let. Jend. S. Parman Kav. 62-63, Jakarta 11410
Telp. / Telephone : 021-5308520
Surat elektronik / Email : corsec@petrindo.co.id
Kegiatan Usaha / Business Activities : Aktivitas Perusahaan Holding dan Aktivitas Konsultasi Manajemen Lainnya / Holding Company Activities and Other Management Consulting Activities
The purpose of this Proposed Acquisition among others, increasing CUAN group’s assets, expanding its business network, and serving as part of CUAN group’s long-term business development plan to become an integrated mining and mining services company.
In carrying out the Proposed Acquisition including any development of the negotiation process (if any) of the Proposed Acquisition, CUAN will comply with the applicable laws and regulations, including POJK 9/2018.
We hereby convey this information, thank you for your attention.