PURE - PT. Trinitan Metals and Minerals Tbk

Rp 68

-2 (-3,00%)

JAKARTA – China Keli Electric Company Ltd (China Keli) would acquire business and assets of PT Hydrotech Metal Indonesia (HMI), a subsidiary of PT Trinitan Metals and Minerals Tbk (PURE). The said corporate action would be initiated firstly by completing stock transfer between HMI’s shareholder, PT Trinitan Green Energy Metal (TGEM) and PT Trinitan Resourcetama (TRI), and China Keli.

Desfrina Novita, Corporate Secretary of Trinitan Metals and Minerals, confirmed that the HMI’s shareholders mentioned above had signed a share transfer agreement with China Keli last week (13/10). “Based on the said agreement, TGEM and TRI would transfer 63,964,999 units of their shares in HMI to China Keli. In return, China Keli would release 70 million common shares of CAD 0.60 per unit. The payment would be prorated based on the number of exchanged shares,” Novita specified further in the information disclosure, quoted Monday (18/10).

In addition, TGEM and TRI would receive performance warrants of 50 million units from China Keli, which could be converted to common shares with the previously set price and prorated. In total, the consideration would amount to 120 million shares, 108,744,000 units of which would go to TGEM, while TRI would lay its hands on the remaining 11,256,000 units.

According to Novita, her company aims to be one of the top nickel suppliers after this major corporate action. For the record, HMI is a research and development (R&D) company that focuses on metal and mineral processing technologies. (LK/ZH)