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Smartel to obtain 20.5% stakes in Moratelindo

31 May 2021 06:17

JAKARTA – PT Smart Telecom (Smartel) would become the minority shareholders of PT Mora Telematika Indonesia (Moratelindo). Henry Rizard Rumopoa, the Corporate Secretary of Moratelindo, announced the news through the information disclosure, quoted Monday (31/5).

Moratelindo; its other stockholders, like PT Candraka Multikreasi (CM) and PT Gema Lintas Buana (GLB); and Smartel had signed the Conditional Shares Subscription Agreement (CSSA) last week (25/5). “[It was] regarding the Smartel’s share capital participation in the new stock to be released by Moratelindo by 20.5% for IDR 360 billion,” Rumopoa explained further.

According to Rumopoa, the participation of Smartel in the company’s shares ownership would shift its composition and structure. However, it would not affect the company’s shares controller. This corporate action would add shares’ classification and capital structure of Moratelindo.

“Smartel would not place its people in the company’s board of directors and commissaries,” Rumopoa added.

In December 2020, Moratelindo reported an authorised capital of IDR 298.75 billion, and the issued and paid-up capital of IDR 298.75 billion. The shares ownership consisted of CM 57.50% and GLB 42.50%. (LK/ZH)

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